Stephens Reiterates Equal Weight Rating for Accolade (NASDAQ:ACCD)

Accolade (NASDAQ:ACCD)‘s stock had its “equal weight” rating reiterated by research analysts at Stephens in a report issued on Wednesday,Benzinga reports. They currently have a $7.03 price target on the stock. Stephens’ price target suggests a potential upside of 1.88% from the stock’s previous close.

ACCD has been the subject of several other research reports. Morgan Stanley decreased their price objective on Accolade from $6.00 to $5.00 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Stifel Nicolaus reaffirmed a “hold” rating and set a $7.03 target price (down previously from $8.00) on shares of Accolade in a research report on Thursday, January 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Accolade in a research report on Wednesday, January 8th. Truist Financial cut Accolade from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Finally, Leerink Partnrs cut Accolade from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 8th. Twelve research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Accolade presently has a consensus rating of “Hold” and a consensus target price of $7.46.

Accolade Stock Performance

Shares of ACCD stock opened at $6.90 on Wednesday. The company has a market cap of $562.97 million, a P/E ratio of -3.07 and a beta of 2.20. Accolade has a fifty-two week low of $3.08 and a fifty-two week high of $13.47. The stock has a 50 day simple moving average of $5.25 and a two-hundred day simple moving average of $4.31. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.63 and a current ratio of 2.63.

Accolade (NASDAQ:ACCD) last released its quarterly earnings data 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%. Research analysts forecast that Accolade will post -1.2 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Rajeev Singh sold 13,357 shares of the company’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 transaction, the chief executive officer now owns 814,316 shares of the company’s stock, valued at $2,931,537.60. This represents a 1.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last quarter, insiders have sold 41,127 shares of company stock valued at $164,674. Insiders own 8.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Whetstone Capital Advisors LLC bought a new stake in shares of Accolade during the 3rd quarter valued at $3,842,000. Johnson Financial Group LLC bought a new stake in shares of Accolade during the 3rd quarter valued at $1,642,000. Nisa Investment Advisors LLC raised its stake in shares of Accolade by 15,113.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 55,680 shares of the company’s stock valued at $190,000 after purchasing an additional 55,314 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of Accolade during the 3rd quarter valued at $2,378,000. Finally, Barclays PLC raised its stake in shares of Accolade by 164.4% during the 3rd 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 period. Hedge funds and other institutional investors own 84.99% of the company’s stock.

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.