Needham & Company LLC Reaffirms “Hold” Rating for Accolade (NASDAQ:ACCD)

Accolade (NASDAQ:ACCD)‘s stock had its “hold” rating restated by stock analysts at Needham & Company LLC in a report released on Wednesday,Benzinga reports.

Other equities research analysts have also issued research reports about the stock. Morgan Stanley cut their price target on shares of Accolade from $6.00 to $5.00 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Stephens cut their target price on shares of Accolade from $10.00 to $8.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. Barclays decreased their price target on shares of Accolade from $5.50 to $5.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 9th. Wells Fargo & Company cut their price objective on Accolade from $7.00 to $6.00 and set an “equal weight” rating for the company in a research note on Friday, October 11th. Finally, Truist Financial decreased their target price on Accolade from $9.00 to $7.50 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Eight research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Accolade presently has an average rating of “Hold” and a consensus target price of $7.55.

Accolade Stock Up 104.8 %

Shares of ACCD opened at $6.86 on Wednesday. The stock’s 50-day moving average price is $3.66 and its 200-day moving average price is $3.83. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $552.48 million, a price-to-earnings ratio of -6.66 and a beta of 2.08. Accolade has a 52 week low of $3.08 and a 52 week high of $15.36.

Accolade (NASDAQ:ACCD) last posted its 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 18.16% and a negative return on equity of 18.43%. The firm had revenue of $106.40 million during the quarter, compared to analysts’ expectations of $104.87 million. During the same period in the previous year, the business posted ($0.43) EPS. The business’s revenue was up 9.8% compared to the same quarter last year. On average, sell-side analysts predict that Accolade will post -0.92 EPS for the current year.

Insider Activity at Accolade

In related news, CEO Rajeev Singh sold 13,357 shares of Accolade stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $3.60, for a total value of $48,085.20. Following the transaction, the chief executive officer now directly owns 814,316 shares in the company, valued at $2,931,537.60. This trade represents a 1.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold a total of 40,881 shares of company stock valued at $144,987 over the last ninety days. Insiders own 8.20% of the company’s stock.

Hedge Funds Weigh In On Accolade

Large investors have recently modified their holdings of the business. Centiva Capital LP grew its stake in shares of Accolade by 5.8% during the 3rd quarter. Centiva Capital LP now owns 59,660 shares of the company’s stock worth $230,000 after purchasing an additional 3,264 shares during the period. The Manufacturers Life Insurance Company boosted 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 worth $104,000 after buying an additional 3,416 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Accolade by 22.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,373 shares of the company’s stock worth $73,000 after buying an additional 3,789 shares during the period. Mission Creek Capital Partners Inc. purchased a new position in Accolade in the third quarter valued at about $38,000. Finally, Inspire Investing LLC lifted its position in shares of Accolade by 11.1% during the 3rd quarter. Inspire Investing LLC now owns 106,679 shares of the company’s stock valued at $411,000 after acquiring an additional 10,658 shares during the period. 84.99% of the stock is owned by hedge funds and other institutional investors.

About Accolade

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 intelligent technology and multimodal support from a team of advocates and clinicians, including registered nurses, physician medical directors, pharmacists, behavioral health specialists, women’s health specialists, case management specialists, expert medical opinion providers, and primary care physicians.