Accolade (NASDAQ:ACCD) Given New $7.50 Price Target at Truist Financial

Accolade (NASDAQ:ACCD) had its price target decreased by equities researchers at Truist Financial from $9.00 to $7.50 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s target price points to a potential upside of 88.44% from the stock’s current price.

ACCD has been the topic of several other reports. Needham & Company LLC restated a “buy” rating and issued a $8.00 price target on shares of Accolade in a research report on Monday. Stephens decreased their price target on Accolade from $10.00 to $8.00 and set an “overweight” rating for the company in a research note on Wednesday. Barclays reduced their target price on Accolade from $5.50 to $5.00 and set an “equal weight” rating for the company in a research note on Wednesday. Guggenheim reduced their price objective on shares of Accolade from $13.00 to $6.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Finally, Morgan Stanley reduced their price objective on Accolade from $12.00 to $6.00 and set an “equal weight” rating for the company in a report on Friday, June 28th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $9.38.

Accolade Price Performance

Shares of ACCD stock traded down $0.06 during mid-day trading on Wednesday, reaching $3.98. The company’s stock had a trading volume of 583,366 shares, compared to its average volume of 1,052,497. The company has a market cap of $318.43 million, a P/E ratio of -3.43 and a beta of 1.99. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.80 and a current ratio of 2.80. Accolade has a 1-year low of $3.35 and a 1-year high of $15.36. The firm’s 50-day moving average is $4.02 and its two-hundred day moving average is $5.80.

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

Hedge Funds Weigh In On Accolade

Hedge funds and other institutional investors have recently modified their holdings of the business. Swiss National Bank increased its stake in Accolade by 1.7% during the 1st quarter. Swiss National Bank now owns 137,500 shares of the company’s stock valued at $1,441,000 after purchasing an additional 2,300 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Accolade by 15.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 19,540 shares of the company’s stock valued at $205,000 after purchasing an additional 2,586 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Accolade by 13.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,160 shares of the company’s stock valued at $104,000 after acquiring an additional 3,416 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Accolade by 22.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,373 shares of the company’s stock worth $73,000 after acquiring an additional 3,789 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of Accolade during the first quarter worth $87,000. 84.99% of the stock is currently owned by 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.