Accolade (NASDAQ:ACCD) Price Target Cut to $5.00

Accolade (NASDAQ:ACCD) had its target price cut by Barclays from $5.50 to $5.00 in a research note published on Wednesday, Benzinga reports. They currently have an equal weight rating on the stock.

ACCD has been the topic of a number of other research reports. Truist Financial dropped their price objective on shares of Accolade from $14.00 to $9.00 and set a buy rating on the stock in a report on Friday, June 28th. Canaccord Genuity Group dropped their price target 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. Needham & Company LLC restated a buy rating and issued a $8.00 price objective on shares of Accolade in a research note on Monday, October 7th. Stifel Nicolaus lowered 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, Guggenheim reduced their price target on Accolade from $13.00 to $6.00 and set a buy rating for the company in a research report on Friday, June 28th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $9.04.

Accolade Trading Down 2.1 %

NASDAQ:ACCD opened at $3.79 on Wednesday. The company has a market cap of $305.25 million, a PE 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 company has a 50 day simple moving average of $4.02 and a two-hundred day simple moving average of $5.73. Accolade has a 12 month low of $3.35 and a 12 month high of $15.36.

Accolade (NASDAQ:ACCD) last posted its quarterly earnings data on Tuesday, October 8th. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.14. Accolade had a negative return on equity of 18.43% and a negative net margin of 18.16%. The company had revenue of $106.40 million during the quarter, compared to analysts’ expectations of $104.87 million. During the same quarter in the prior year, the business earned ($0.43) earnings per share. Accolade’s revenue for the quarter was up 9.8% compared to the same quarter last year. Research analysts forecast 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 added to or reduced their stakes in the stock. Swiss National Bank lifted its holdings in shares of 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 increased its holdings in Accolade by 15.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,540 shares of the company’s stock valued at $205,000 after acquiring an additional 2,586 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Accolade by 13.3% during the 2nd 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 during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Accolade by 22.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,373 shares of the company’s stock valued at $73,000 after purchasing an additional 3,789 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Accolade in the first quarter worth about $87,000. 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 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.