Accolade, Inc. (NASDAQ:ACCD) Stock Holdings Lifted by Inspire Investing LLC

Inspire Investing LLC grew its stake in shares of Accolade, Inc. (NASDAQ:ACCD) by 179.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 96,021 shares of the company’s stock after acquiring an additional 61,688 shares during the period. Inspire Investing LLC owned about 0.12% of Accolade worth $344,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Swiss National Bank boosted its position in shares of Accolade by 1.7% in the 1st quarter. Swiss National Bank now owns 137,500 shares of the company’s stock valued at $1,441,000 after purchasing an additional 2,300 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Accolade by 15.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 19,540 shares of the company’s stock worth $205,000 after buying an additional 2,586 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Accolade by 22.8% in 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. Allspring Global Investments Holdings LLC purchased a new position in shares of Accolade in the first quarter worth approximately $87,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Accolade during the second quarter valued at approximately $43,000. 84.99% of the stock is currently owned by institutional investors and hedge funds.

Accolade Trading Up 2.1 %

Shares of NASDAQ:ACCD opened at $3.92 on Wednesday. Accolade, Inc. has a 1 year low of $3.35 and a 1 year high of $15.36. The firm has a fifty day moving average price of $4.02 and a 200 day moving average price of $6.20. The company has a current ratio of 2.80, a quick ratio of 2.80 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $313.63 million, a PE ratio of -3.38 and a beta of 2.00.

Accolade (NASDAQ:ACCD) last issued its quarterly earnings data on Thursday, June 27th. The company reported ($0.35) EPS for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.13. Accolade had a negative return on equity of 20.30% and a negative net margin of 20.62%. The business had revenue of $110.50 million for the quarter, compared to analyst estimates of $105.22 million. During the same quarter in the prior year, the firm posted ($0.52) EPS. The firm’s revenue for the quarter was up 18.6% on a year-over-year basis. Analysts expect that Accolade, Inc. will post -1.11 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on ACCD. Canaccord Genuity Group decreased their price objective on shares of Accolade from $16.00 to $13.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Guggenheim lowered their price target on Accolade from $13.00 to $6.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Stifel Nicolaus reduced their price objective on Accolade from $13.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Barclays lowered their target price on Accolade from $11.00 to $5.50 and set an “equal weight” rating on the stock in a research note on Friday, June 28th. Finally, Truist Financial reduced their price target on shares of Accolade from $14.00 to $9.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Accolade currently has an average rating of “Moderate Buy” and an average price target of $11.65.

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.