Accolade, Inc. (NASDAQ:ACCD) Receives $7.55 Consensus Price Target from Analysts

Shares of Accolade, Inc. (NASDAQ:ACCD) have been given an average recommendation of “Hold” by the thirteen brokerages that are currently covering the firm, MarketBeat reports. Twelve analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $7.55.

A number of equities research analysts recently commented on ACCD shares. Truist Financial downgraded Accolade from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Leerink Partnrs lowered shares of Accolade from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 8th. Stifel Nicolaus restated a “hold” rating and set a $7.03 price objective (down previously from $8.00) on shares of Accolade in a report on Thursday, January 9th. Raymond James reiterated a “market perform” rating on shares of Accolade in a report on Thursday, January 9th. Finally, Canaccord Genuity Group reissued a “hold” rating on shares of Accolade in a report on Wednesday, January 8th.

Accolade Stock Down 0.3 %

ACCD stock opened at $6.87 on Friday. The business’s 50-day simple moving average is $5.11 and its 200 day simple moving average is $4.27. The company has a quick ratio of 2.63, a current ratio of 2.63 and a debt-to-equity ratio of 0.67. The company has a market cap of $560.52 million, a PE ratio of -3.05 and a beta of 2.20. Accolade has a twelve month low of $3.08 and a twelve month high of $13.93.

Accolade (NASDAQ:ACCD) last announced its quarterly earnings results on Friday, January 10th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.01. Accolade had a negative return on equity of 20.74% and a negative net margin of 40.36%. On average, research analysts anticipate that Accolade will post -1.2 earnings per share for the current year.

Insider Buying and Selling at Accolade

In other Accolade news, CEO Rajeev Singh sold 13,357 shares of the 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 sale, the chief executive officer now owns 814,316 shares in the company, valued at $2,931,537.60. This represents a 1.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 40,145 shares of company stock worth $157,917 over the last ninety days. 8.20% of the stock is currently owned by company insiders.

Institutional Trading of Accolade

Institutional investors have recently added to or reduced their stakes in the stock. EntryPoint Capital LLC increased its position in shares of Accolade by 128.5% during the fourth quarter. EntryPoint Capital LLC now owns 83,787 shares of the company’s stock valued at $287,000 after buying an additional 47,113 shares during the period. Intech Investment Management LLC increased its holdings in Accolade by 48.8% during the 4th quarter. Intech Investment Management LLC now owns 36,984 shares of the company’s stock worth $126,000 after acquiring an additional 12,124 shares during the period. Tocqueville Asset Management L.P. increased its holdings in Accolade by 100.0% during the 4th quarter. Tocqueville Asset Management L.P. now owns 580,000 shares of the company’s stock worth $1,984,000 after acquiring an additional 290,000 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Accolade by 84.1% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 634,470 shares of the company’s stock worth $2,170,000 after purchasing an additional 289,747 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Accolade in the 4th quarter valued at $120,000. Hedge funds and other institutional investors own 84.99% of the company’s stock.

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.