Barclays Cuts Accolade (NASDAQ:ACCD) Price Target to $5.00

Accolade (NASDAQ:ACCD) had its target price lowered by investment analysts at Barclays from $5.50 to $5.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price target suggests a potential upside of 22.25% from the stock’s current price.

A number of other equities analysts also recently commented on the stock. Truist Financial lowered their target price on shares of Accolade from $14.00 to $9.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $8.00 price target on shares of Accolade in a report on Monday. Stifel Nicolaus dropped their price objective on Accolade from $13.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Canaccord Genuity Group decreased their target price on Accolade from $16.00 to $13.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Finally, Morgan Stanley dropped their price target on shares of Accolade from $12.00 to $6.00 and set an “equal weight” rating on the stock in a research note on Friday, June 28th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $10.00.

Accolade Stock Up 1.2 %

ACCD traded up $0.05 on Wednesday, hitting $4.09. 319,211 shares of the company were exchanged, compared to its average volume of 1,051,143. The firm has a 50-day moving average price of $4.02 and a two-hundred day moving average price of $5.83. The company has a current ratio of 2.80, a quick ratio of 2.80 and a debt-to-equity ratio of 0.48. Accolade has a twelve month low of $3.35 and a twelve month high of $15.36. The company has a market cap of $327.23 million, a price-to-earnings ratio of -3.53 and a beta of 1.99.

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

Hedge Funds Weigh In On Accolade

A number of hedge funds have recently modified their holdings of ACCD. PNC Financial Services Group Inc. boosted its stake in Accolade by 52,492.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 33,659 shares of the company’s stock worth $404,000 after purchasing an additional 33,595 shares during the period. Los Angeles Capital Management LLC grew its holdings in shares of Accolade by 233.8% during the first quarter. Los Angeles Capital Management LLC now owns 56,149 shares of the company’s stock worth $588,000 after buying an additional 39,330 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Accolade in the 1st quarter valued at about $87,000. Principal Financial Group Inc. acquired a new position in Accolade in the 1st quarter valued at about $259,000. Finally, Mckinley Capital Management LLC purchased a new stake in Accolade during the 1st quarter valued at approximately $1,155,000. 84.99% of the stock is currently 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.