Accolade, Inc. (NASDAQ:ACCD) Receives $10.68 Average Price Target from Brokerages

Accolade, Inc. (NASDAQ:ACCD) has received a consensus rating of “Moderate Buy” from the fifteen analysts that are covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $9.04.

A number of brokerages recently commented on ACCD. Stifel Nicolaus dropped their price target on shares of Accolade from $13.00 to $8.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Guggenheim decreased their target price on shares of Accolade from $13.00 to $6.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $8.00 target price on shares of Accolade in a report on Monday, October 7th. Canaccord Genuity Group decreased their target price on shares of Accolade from $13.00 to $7.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Wells Fargo & Company decreased their target price on shares of Accolade from $7.00 to $6.00 and set an “equal weight” rating on the stock in a report on Friday.

Accolade Stock Performance

Shares of ACCD stock opened at $3.79 on Monday. The stock has a market capitalization of $305.25 million, a P/E ratio of -3.68 and a beta of 1.99. The company has a current ratio of 2.72, a quick ratio of 2.80 and a debt-to-equity ratio of 0.49. The firm’s 50 day moving average is $4.01 and its 200 day moving average is $5.77. Accolade has a 12 month low of $3.35 and a 12 month high of $15.36.

Accolade (NASDAQ:ACCD) last announced its quarterly earnings results on Tuesday, October 8th. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.14. The company had revenue of $106.40 million for the quarter, compared to analysts’ expectations of $104.87 million. Accolade had a negative net margin of 18.16% and a negative return on equity of 18.43%. Accolade’s revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.43) EPS. On average, sell-side analysts anticipate that Accolade will post -1.09 earnings per share for the current year.

Institutional Investors Weigh In On Accolade

A number of institutional investors have recently made changes to their positions in the business. ARK Investment Management LLC boosted its position in Accolade by 0.5% during the 2nd quarter. ARK Investment Management LLC now owns 5,641,448 shares of the company’s stock valued at $20,196,000 after buying an additional 28,405 shares during the period. Vanguard Group Inc. boosted its position in Accolade by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 5,403,256 shares of the company’s stock valued at $56,626,000 after buying an additional 77,044 shares during the period. Bellevue Group AG boosted its position in Accolade by 6.6% during the 1st quarter. Bellevue Group AG now owns 4,804,514 shares of the company’s stock valued at $50,351,000 after buying an additional 297,110 shares during the period. Millennium Management LLC boosted its position in Accolade by 244.7% during the 2nd quarter. Millennium Management LLC now owns 2,623,201 shares of the company’s stock valued at $9,391,000 after buying an additional 1,862,178 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in Accolade by 18.5% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,011,931 shares of the company’s stock valued at $7,203,000 after buying an additional 314,371 shares during the period. Hedge funds and other 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.