Accolade (NASDAQ:ACCD) Earns Market Perform Rating from Leerink Partners

Accolade (NASDAQ:ACCD)‘s stock had its “market perform” rating reissued by stock analysts at Leerink Partners in a research note issued to investors on Wednesday,Benzinga reports.

Several other equities research analysts have also commented on the stock. Barclays lowered their price target on shares of Accolade from $5.50 to $5.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 9th. Canaccord Genuity Group dropped their target price on Accolade from $13.00 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Truist Financial decreased their price target on Accolade from $9.00 to $7.50 and set a “buy” rating for the company in a report on Wednesday, October 9th. Wells Fargo & Company dropped 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. Finally, Morgan Stanley decreased their target price on shares of Accolade from $6.00 to $5.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 17th. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $7.55.

Accolade Trading Up 104.8 %

Shares of NASDAQ:ACCD opened at $6.86 on Wednesday. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 0.49. Accolade has a 52-week low of $3.08 and a 52-week high of $15.36. The stock has a market cap of $552.48 million, a price-to-earnings ratio of -6.66 and a beta of 2.08. The business has a 50-day moving average price of $3.66 and a 200-day moving average price of $3.83.

Accolade (NASDAQ:ACCD) last announced its quarterly earnings data on Tuesday, October 8th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.14. The business had revenue of $106.40 million during the quarter, compared to analysts’ expectations of $104.87 million. Accolade had a negative net margin of 18.16% and a negative return on equity of 18.43%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.43) EPS. Equities analysts predict that Accolade will post -0.92 EPS for the current year.

Insider Activity at Accolade

In related news, CEO Rajeev Singh sold 13,357 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $3.60, for a total transaction of $48,085.20. Following the transaction, the chief executive officer now directly owns 814,316 shares in the company, valued at approximately $2,931,537.60. The trade was a 1.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders have sold 40,881 shares of company stock valued at $144,987. 8.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Whetstone Capital Advisors LLC purchased a new stake in shares of Accolade in the third quarter valued at approximately $3,842,000. Clearline Capital LP acquired a new stake in shares of Accolade in the 2nd quarter worth $2,974,000. Cubist Systematic Strategies LLC boosted its position in shares of Accolade by 273.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 260,040 shares of the company’s stock valued at $931,000 after acquiring an additional 190,396 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of Accolade during the 2nd quarter valued at about $1,229,000. Finally, Johnson Financial Group LLC purchased a new stake in shares of Accolade in the third quarter valued at about $1,642,000. 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 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.