Barclays Lowers Accolade (NASDAQ:ACCD) Price Target to $5.00

Accolade (NASDAQ:ACCD) had its target price dropped by research analysts at Barclays from $5.50 to $5.00 in a report issued on Wednesday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price target would suggest a potential upside of 29.20% from the company’s previous close.

ACCD has been the subject of a number of other research reports. Stifel Nicolaus decreased their target price on shares of Accolade from $13.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Guggenheim reduced their price target on Accolade from $13.00 to $6.00 and set a “buy” rating for the company in a report on Friday, June 28th. Truist Financial dropped their price target on shares of Accolade from $14.00 to $9.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Needham & Company LLC restated a “buy” rating and set a $8.00 price objective on shares of Accolade in a research note on Monday. Finally, Canaccord Genuity Group dropped their target price on shares of Accolade from $16.00 to $13.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, Accolade presently has an average rating of “Moderate Buy” and a consensus price target of $9.38.

Accolade Stock Performance

Shares of NASDAQ:ACCD opened at $3.87 on Wednesday. The company has a market cap of $309.63 million, a price-to-earnings ratio of -3.34 and a beta of 1.99. Accolade has a 12 month low of $3.35 and a 12 month high of $15.36. The company has a 50-day moving average price of $4.01 and a 200-day moving average price of $5.78. The company has a current ratio of 2.80, a quick ratio of 2.80 and a debt-to-equity ratio of 0.48.

Accolade (NASDAQ:ACCD) last announced its quarterly earnings results on Tuesday, October 8th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.14. Accolade had a negative net margin of 20.62% and a negative return on equity of 20.30%. The company had revenue of $106.40 million for the quarter, compared to analysts’ expectations of $104.87 million. During the same quarter in the previous year, the company earned ($0.43) earnings per share. Accolade’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, equities analysts anticipate that Accolade will post -1.11 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Swiss National Bank increased its position in Accolade by 1.7% in the first quarter. Swiss National Bank now owns 137,500 shares of the company’s stock worth $1,441,000 after buying an additional 2,300 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Accolade by 15.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,540 shares of the company’s stock worth $205,000 after acquiring an additional 2,586 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Accolade by 13.3% during the second quarter. The Manufacturers Life Insurance Company now owns 29,160 shares of the company’s stock valued at $104,000 after purchasing an additional 3,416 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Accolade by 22.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,373 shares of the company’s stock worth $73,000 after purchasing an additional 3,789 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of Accolade in the first quarter worth $87,000. Institutional investors own 84.99% of the company’s stock.

Accolade Company Profile

Accolade, Inc, together with its subsidiaries, engages in the development and provision of personalized and technology-enabled solutions that help people to understand, navigate, and utilize the healthcare system and their workplace benefits in the United States. The company offers a platform with cloud-based technology and multimodal support from a team of health assistants and clinicians, including registered nurses, physician medical directors, pharmacists, behavioral health specialists, women's health specialists, case management specialists, expert medical opinion providers, and virtual primary care physicians.