Stifel Nicolaus Reiterates Hold Rating for Accolade (NASDAQ:ACCD)

Accolade (NASDAQ:ACCD)‘s stock had its “hold” rating reaffirmed by research analysts at Stifel Nicolaus in a note issued to investors on Thursday,Benzinga reports. They currently have a $7.03 price objective on the stock, down from their prior price objective of $8.00. Stifel Nicolaus’ price objective indicates a potential upside of 2.93% from the stock’s previous close.

Other research analysts also recently issued reports about the stock. Barclays lowered their price target on shares of Accolade from $5.50 to $5.00 and set an “equal weight” rating for the company in a report on Wednesday, October 9th. Truist Financial cut their price objective on shares of Accolade from $9.00 to $7.50 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Wells Fargo & Company cut their price objective on shares of Accolade from $7.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Friday, October 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of Accolade in a research report on Wednesday. Finally, Stephens dropped their price target on shares of Accolade from $10.00 to $8.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 9th. Ten investment 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 stock presently has an average rating of “Hold” and an average target price of $7.55.

Accolade Price Performance

Shares of NASDAQ ACCD opened at $6.83 on Thursday. The business’s 50 day moving average price is $3.73 and its two-hundred day moving average price is $3.84. The company 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 has a twelve month low of $3.08 and a twelve month high of $15.21.

Accolade (NASDAQ:ACCD) last posted its 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 18.43% and a negative net margin of 18.16%. On average, analysts predict that Accolade will post -0.92 EPS for the current year.

Insider Transactions at Accolade

In related news, CEO Rajeev Singh sold 13,357 shares of Accolade stock in a transaction that occurred on Tuesday, December 3rd. The shares were 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 directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 40,881 shares of company stock worth $144,987 in the last quarter. Insiders own 8.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ACCD. Millennium Management LLC lifted its holdings in shares of Accolade by 244.7% during the 2nd quarter. Millennium Management LLC now owns 2,623,201 shares of the company’s stock worth $9,391,000 after acquiring an additional 1,862,178 shares during the last quarter. Geode Capital Management LLC lifted its stake in Accolade by 4.9% in the third quarter. Geode Capital Management LLC now owns 1,782,038 shares of the company’s stock worth $6,862,000 after purchasing an additional 83,556 shares during the last quarter. Clearline Capital LP lifted its stake in Accolade by 85.3% in the third quarter. Clearline Capital LP now owns 1,539,578 shares of the company’s stock worth $5,927,000 after purchasing an additional 708,794 shares during the last quarter. Whetstone Capital Advisors LLC purchased a new position in shares of Accolade in the third quarter valued at about $3,842,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of Accolade in the third quarter valued at about $2,378,000. 84.99% of the stock is owned by institutional investors.

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.