Raymond James Reiterates “Market Perform” Rating for Accolade (NASDAQ:ACCD)

Accolade (NASDAQ:ACCD)‘s stock had its “market perform” rating restated by equities researchers at Raymond James in a research note issued on Thursday,Benzinga reports.

Several other research firms have also recently commented on ACCD. Barclays reduced their price target on Accolade from $5.50 to $5.00 and set an “equal weight” rating for the company in a report on Wednesday, October 9th. Wells Fargo & Company dropped 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. Canaccord Genuity Group reissued a “hold” rating on shares of Accolade in a research report on Wednesday. Truist Financial lowered their price objective on Accolade from $9.00 to $7.50 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Accolade in a research report on Wednesday. Ten analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $7.55.

Accolade Stock Down 0.4 %

Accolade stock opened at $6.83 on Thursday. Accolade has a twelve month low of $3.08 and a twelve month high of $15.21. The stock has a 50 day moving average of $3.73 and a two-hundred day moving average of $3.84. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $550.07 million, a price-to-earnings ratio of -6.63 and a beta of 2.08.

Accolade (NASDAQ:ACCD) last posted its quarterly earnings data on Friday, January 10th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.01. Accolade had a negative return on equity of 18.43% and a negative net margin of 18.16%. As a group, research analysts expect that Accolade will post -0.92 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Rajeev Singh sold 13,357 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $3.60, for a total value of $48,085.20. Following the transaction, the chief executive officer now owns 814,316 shares in the company, valued at approximately $2,931,537.60. The trade was a 1.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold a total of 40,881 shares of company stock worth $144,987 over the last quarter. 8.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Barclays PLC increased its holdings in Accolade by 164.4% in the third quarter. Barclays PLC now owns 139,901 shares of the company’s stock valued at $539,000 after buying an additional 86,981 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Accolade by 4.9% during the third quarter. Geode Capital Management LLC now owns 1,782,038 shares of the company’s stock valued at $6,862,000 after purchasing an additional 83,556 shares during the last quarter. Wolverine Trading LLC acquired a new position in shares of Accolade during the third quarter worth approximately $51,000. Stifel Financial Corp boosted its position in shares of Accolade by 20.8% during the third quarter. Stifel Financial Corp now owns 332,126 shares of the company’s stock worth $1,279,000 after buying an additional 57,239 shares during the period. Finally, Point72 Asset Management L.P. acquired a new position in shares of Accolade during the third quarter worth approximately $2,378,000. Institutional investors and hedge funds 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 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.