Accolade (NASDAQ:ACCD) Earns “Market Perform” Rating from Raymond James

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

Several other equities analysts have also issued reports on the company. Barclays decreased their target price on Accolade from $5.50 to $5.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 9th. Morgan Stanley decreased their target price on Accolade from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. Wells Fargo & Company decreased their target price on Accolade from $7.00 to $6.00 and set an “equal weight” rating on the stock in a research note on Friday, October 11th. Stephens cut their price target on Accolade from $10.00 to $8.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. Finally, Canaccord Genuity Group restated a “hold” rating on shares of Accolade in a report on Wednesday. Ten analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $7.55.

Accolade Stock Performance

Shares of Accolade stock opened at $6.83 on Thursday. Accolade has a 52 week low of $3.08 and a 52 week high of $15.21. The business’s fifty day simple moving average is $3.73 and its 200-day simple moving average is $3.84. The firm has a market cap of $550.07 million, a PE ratio of -6.63 and a beta of 2.08. 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 (NASDAQ:ACCD) last posted its earnings results on Friday, January 10th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.01. Accolade had a negative return on equity of 18.43% and a negative net margin of 18.16%. Equities analysts forecast that Accolade will post -0.92 earnings per share for the current year.

Insider Activity

In other news, CEO Rajeev Singh sold 13,357 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $3.60, for a total value of $48,085.20. Following the transaction, the chief executive officer now owns 814,316 shares in the company, valued at approximately $2,931,537.60. This represents a 1.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last 90 days, insiders have sold 40,881 shares of company stock worth $144,987. 8.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Mission Creek Capital Partners Inc. purchased a new position in Accolade during the 3rd quarter worth approximately $38,000. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in Accolade during the 3rd quarter worth approximately $46,000. Wolverine Trading LLC purchased a new position in Accolade during the 3rd quarter worth approximately $51,000. Point72 Asia Singapore Pte. Ltd. grew its stake in Accolade by 1,144.1% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 20,913 shares of the company’s stock worth $81,000 after buying an additional 19,232 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new position in Accolade during the 3rd quarter worth approximately $96,000. 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.