Accolade, Inc. (NASDAQ:ACCD) Receives $8.96 Consensus Target Price from Analysts

Shares of Accolade, Inc. (NASDAQ:ACCD) have earned a consensus rating of “Moderate Buy” from the fourteen research firms that are covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $8.96.

Several equities analysts have recently commented on the company. Needham & Company LLC reiterated a “buy” rating and set a $8.00 target price on shares of Accolade in a research note on Monday, October 7th. Wells Fargo & Company reduced their price objective on shares of Accolade from $7.00 to $6.00 and set an “equal weight” rating on the stock in a research note on Friday, October 11th. Barclays dropped their target price on shares of Accolade from $5.50 to $5.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 9th. Truist Financial reduced their price target on shares of Accolade from $9.00 to $7.50 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Finally, Stephens lowered their price objective on Accolade from $10.00 to $8.00 and set an “overweight” rating for the company in a report on Wednesday, October 9th.

Insider Activity

In other news, CEO Rajeev Singh sold 13,357 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $3.60, for a total transaction of $48,085.20. Following the completion of the sale, the chief executive officer now directly owns 814,316 shares of the company’s stock, valued at $2,931,537.60. This trade represents a 1.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold 42,095 shares of company stock worth $150,475 over the last three months. Corporate insiders own 8.20% of the company’s stock.

Hedge Funds Weigh In On Accolade

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC boosted its position in Accolade by 164.4% during the third quarter. Barclays PLC now owns 139,901 shares of the company’s stock valued at $539,000 after purchasing an additional 86,981 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Accolade by 4.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,782,038 shares of the company’s stock valued at $6,862,000 after buying an additional 83,556 shares during the last quarter. Wolverine Trading LLC acquired a new stake in shares of Accolade during the 3rd quarter valued at about $51,000. Stifel Financial Corp increased its holdings in Accolade by 20.8% in 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 last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of Accolade during the 3rd quarter worth $2,378,000. 84.99% of the stock is currently owned by hedge funds and other institutional investors.

Accolade Stock Performance

Accolade stock opened at $3.45 on Friday. Accolade has a 12-month low of $3.08 and a 12-month high of $15.36. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.72 and a quick ratio of 2.72. The company has a market capitalization of $277.85 million, a price-to-earnings ratio of -3.35 and a beta of 2.07. The firm’s fifty day moving average price is $3.51 and its 200 day moving average price is $4.04.

Accolade (NASDAQ:ACCD) last announced its earnings results on Tuesday, October 8th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.14. The business had revenue of $106.40 million for the quarter, compared to analyst estimates of $104.87 million. Accolade had a negative return on equity of 18.43% and a negative net margin of 18.16%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.43) earnings per share. On average, research analysts forecast that Accolade will post -0.92 EPS for the current fiscal year.

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 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.