Accolade (NASDAQ:ACCD) Cut to Hold at William Blair

William Blair cut shares of Accolade (NASDAQ:ACCD) from a strong-buy rating to a hold rating in a report released on Wednesday morning,Zacks.com reports.

Other equities analysts have also recently issued reports about the stock. Leerink Partnrs cut shares of Accolade from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Raymond James restated a “market perform” rating on shares of Accolade in a research report on Thursday. Truist Financial reduced their price objective on shares of Accolade from $9.00 to $7.50 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Stephens reduced their target price on shares of Accolade from $10.00 to $8.00 and set an “overweight” rating for the company in a research report on Wednesday, October 9th. Finally, Wells Fargo & Company reduced their target price on shares of Accolade from $7.00 to $6.00 and set an “equal weight” rating for the company in a research report on Friday, October 11th. Ten research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $7.55.

Accolade Stock Performance

ACCD opened at $6.83 on Wednesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.72 and a quick ratio of 2.72. The firm has a fifty day moving average price of $3.73 and a 200 day moving average price of $3.84. Accolade has a 1 year low of $3.08 and a 1 year high of $15.21. The stock has a market cap of $550.07 million, a P/E ratio of -6.63 and a beta of 2.08.

Accolade (NASDAQ:ACCD) last posted its earnings results on Friday, January 10th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.01. Accolade had a negative net margin of 18.16% and a negative return on equity of 18.43%. Equities research analysts anticipate that Accolade will post -0.92 earnings per share for the current year.

Insider Activity at Accolade

In other Accolade news, CEO Rajeev Singh sold 13,357 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $3.60, for a total transaction of $48,085.20. Following the completion of the transaction, the chief executive officer now owns 814,316 shares of the company’s stock, valued at $2,931,537.60. This trade represents a 1.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last quarter, insiders sold 40,881 shares of company stock valued at $144,987. 8.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ACCD. Rhumbline Advisers boosted its stake in Accolade by 22.5% during the second quarter. Rhumbline Advisers now owns 124,351 shares of the company’s stock worth $445,000 after buying an additional 22,857 shares during the period. Acadian Asset Management LLC purchased a new position in Accolade during the second quarter worth about $1,229,000. Blair William & Co. IL lifted its position in shares of Accolade by 73.1% during the second quarter. Blair William & Co. IL now owns 79,834 shares of the company’s stock worth $286,000 after purchasing an additional 33,725 shares in the last quarter. XTX Topco Ltd lifted its position in shares of Accolade by 64.4% during the second quarter. XTX Topco Ltd now owns 49,454 shares of the company’s stock worth $177,000 after purchasing an additional 19,369 shares in the last quarter. Finally, Inspire Investing LLC lifted its position in shares of Accolade by 179.7% during the second quarter. Inspire Investing LLC now owns 96,021 shares of the company’s stock worth $344,000 after purchasing an additional 61,688 shares in the last quarter. 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.