Morgan Stanley Issues Pessimistic Forecast for Accolade (NASDAQ:ACCD) Stock Price

Accolade (NASDAQ:ACCD) had its price objective decreased by research analysts at Morgan Stanley from $6.00 to $5.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 52.91% from the company’s previous close.

Several other analysts have also recently commented on ACCD. Wells Fargo & Company decreased their target price on Accolade from $7.00 to $6.00 and set an “equal weight” rating for the company in a research report on Friday, October 11th. Stephens dropped their price objective on shares of Accolade from $10.00 to $8.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. Needham & Company LLC reissued a “buy” rating and set a $8.00 target price on shares of Accolade in a research note on Monday, October 7th. Canaccord Genuity Group cut their price objective on Accolade from $13.00 to $7.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. Finally, Truist Financial lowered their target price on Accolade from $9.00 to $7.50 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $8.96.

Accolade Stock Performance

Shares of ACCD stock opened at $3.27 on Tuesday. Accolade has a 12-month low of $3.08 and a 12-month high of $15.36. The firm has a market capitalization of $263.36 million, a price-to-earnings ratio of -3.17 and a beta of 2.07. The business has a 50 day simple moving average of $3.53 and a 200 day simple moving average of $4.10. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.72 and a quick ratio of 2.72.

Accolade (NASDAQ:ACCD) last released 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 firm 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%. Accolade’s revenue 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, equities research analysts anticipate that Accolade will post -0.92 EPS for the current year.

Insider Activity

In other Accolade news, CEO Rajeev Singh sold 13,357 shares of Accolade stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $3.60, for a total value of $48,085.20. Following the completion of the transaction, the chief executive officer now owns 814,316 shares in the company, valued at approximately $2,931,537.60. The trade was a 1.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last three months, insiders have sold 42,095 shares of company stock worth $150,475. Corporate insiders own 8.20% of the company’s stock.

Institutional Investors Weigh In On Accolade

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ACCD. Barclays PLC increased its position in Accolade by 164.4% in the third quarter. Barclays PLC now owns 139,901 shares of the company’s stock worth $539,000 after purchasing an additional 86,981 shares during the period. Geode Capital Management LLC lifted its holdings in Accolade by 4.9% in the third 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 period. Wolverine Trading LLC bought a new position in Accolade in the third quarter valued at approximately $51,000. Stifel Financial Corp grew its holdings in Accolade by 20.8% during the 3rd quarter. Stifel Financial Corp now owns 332,126 shares of the company’s stock worth $1,279,000 after acquiring an additional 57,239 shares during the period. Finally, Point72 Asset Management L.P. bought a new stake in shares of Accolade during the 3rd quarter valued at $2,378,000. Institutional investors and hedge funds 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.