Accolade (NASDAQ:ACCD) PT Lowered to $6.00 at Wells Fargo & Company

Accolade (NASDAQ:ACCD) had its price target reduced by Wells Fargo & Company from $7.00 to $6.00 in a research note released on Friday, Benzinga reports. They currently have an equal weight rating on the stock.

Several other equities analysts have also commented on the company. Stephens cut their price target on Accolade from $10.00 to $8.00 and set an overweight rating on the stock in a research note on Wednesday, October 9th. Canaccord Genuity Group lowered their price objective on Accolade from $13.00 to $7.00 and set a buy rating on the stock in a research note on Wednesday, October 9th. Morgan Stanley decreased their target price on Accolade from $12.00 to $6.00 and set an equal weight rating on the stock in a research note on Friday, June 28th. Stifel Nicolaus cut their target price on Accolade from $13.00 to $8.00 and set a buy rating on the stock in a research report on Friday, June 28th. Finally, Barclays cut their price target on Accolade from $5.50 to $5.00 and set an equal weight rating on the stock in a research report on Wednesday, October 9th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, Accolade currently has a consensus rating of Moderate Buy and a consensus target price of $9.04.

Accolade Trading Down 2.1 %

Shares of ACCD stock opened at $3.79 on Friday. Accolade has a 12-month low of $3.35 and a 12-month high of $15.36. The company has a quick ratio of 2.80, a current ratio of 2.72 and a debt-to-equity ratio of 0.49. The business has a 50-day moving average price of $4.02 and a two-hundred day moving average price of $5.67. The firm has a market cap of $305.25 million, a P/E ratio of -3.68 and a beta of 1.99.

Accolade (NASDAQ:ACCD) last posted its earnings results on Tuesday, October 8th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.14. The firm had revenue of $106.40 million for the quarter, compared to the consensus estimate of $104.87 million. Accolade had a negative return on equity of 18.43% and a negative net margin of 18.16%. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.43) EPS. Equities analysts anticipate that Accolade will post -1.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ACCD. SG Americas Securities LLC acquired a new position in Accolade in the 2nd quarter worth approximately $43,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Accolade by 22.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,373 shares of the company’s stock valued at $73,000 after acquiring an additional 3,789 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Accolade during the first quarter worth approximately $87,000. The Manufacturers Life Insurance Company boosted its holdings in Accolade by 13.3% in 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. Finally, Versor Investments LP acquired a new stake in shares of Accolade in the second quarter valued at approximately $150,000. 84.99% of the stock is currently owned by institutional investors.

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.