Accolade (NASDAQ:ACCD) PT Lowered to $8.00

Accolade (NASDAQ:ACCD) had its price target lowered by equities research analysts at Stephens from $10.00 to $8.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Stephens’ price target would suggest a potential upside of 95.60% from the stock’s current price.

ACCD has been the subject of a number of other research reports. Morgan Stanley dropped their price target on Accolade from $12.00 to $6.00 and set an “equal weight” rating for the company in a research report on Friday, June 28th. Canaccord Genuity Group cut their price target 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 decreased their price target on shares of Accolade from $13.00 to $6.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Truist Financial dropped their price objective on shares of Accolade from $14.00 to $9.00 and set a “buy” rating for the company in a report on Friday, June 28th. Finally, Barclays reduced their target price on Accolade from $5.50 to $5.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $10.00.

Accolade Price Performance

Accolade stock traded up $0.05 during midday trading on Wednesday, reaching $4.09. 319,211 shares of the stock were exchanged, compared to its average volume of 1,051,143. Accolade has a 52 week low of $3.35 and a 52 week high of $15.36. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.80 and a current ratio of 2.80. The firm has a market cap of $327.23 million, a PE ratio of -3.53 and a beta of 1.99. The company’s fifty day moving average is $4.02 and its 200-day moving average is $5.83.

Accolade (NASDAQ:ACCD) last released its quarterly earnings results on Tuesday, October 8th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.14. The firm had revenue of $106.40 million for the quarter, compared to analysts’ expectations of $104.87 million. Accolade had a negative net margin of 20.62% and a negative return on equity of 20.30%. The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.43) earnings per share. On average, sell-side analysts forecast that Accolade will post -1.11 EPS for the current year.

Hedge Funds Weigh In On Accolade

A number of large investors have recently bought and sold shares of ACCD. SG Americas Securities LLC bought a new position in shares of Accolade in the second quarter worth approximately $43,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Accolade by 22.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,373 shares of the company’s stock worth $73,000 after acquiring an additional 3,789 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Accolade in the first quarter valued at about $87,000. The Manufacturers Life Insurance Company raised its stake in shares of Accolade by 13.3% during the second quarter. The Manufacturers Life Insurance Company now owns 29,160 shares of the company’s stock valued at $104,000 after acquiring an additional 3,416 shares during the last quarter. Finally, Versor Investments LP purchased a new stake in shares of Accolade during the second quarter worth about $150,000. 84.99% of the stock is owned by hedge funds and other 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.