Accolade, Inc. (NASDAQ:ACCD) Receives $7.55 Consensus Price Target from Analysts

Shares of Accolade, Inc. (NASDAQ:ACCD) have been assigned a consensus recommendation of “Hold” from the thirteen research firms that are presently covering the stock, MarketBeat.com reports. Twelve research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $7.55.

Several equities analysts have recently commented on the company. Truist Financial cut Accolade from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Leerink Partnrs lowered shares of Accolade from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 8th. William Blair downgraded shares of Accolade from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Accolade in a research report on Wednesday, January 8th. Finally, Morgan Stanley lowered their price objective on Accolade from $6.00 to $5.00 and set an “equal weight” rating for the company in a report on Tuesday, December 17th.

Insider Buying and Selling

In other Accolade news, CEO Rajeev Singh sold 13,357 shares of the 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 sale, the chief executive officer now directly 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 Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders have sold 41,298 shares of company stock valued at $149,987. Insiders own 8.20% of the company’s stock.

Hedge Funds Weigh In On Accolade

Institutional investors have recently modified their holdings of the company. Mission Creek Capital Partners Inc. acquired a new position in Accolade during the 3rd quarter valued at about $38,000. Pallas Capital Advisors LLC acquired a new position in shares of Accolade during the fourth quarter worth approximately $38,000. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in Accolade in the 3rd quarter worth approximately $46,000. Wolverine Trading LLC acquired a new stake in Accolade in the 3rd quarter valued at approximately $51,000. Finally, Point72 Asia Singapore Pte. Ltd. raised 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 valued at $81,000 after acquiring an additional 19,232 shares in the last quarter. Institutional investors own 84.99% of the company’s stock.

Accolade Price Performance

ACCD opened at $6.89 on Wednesday. Accolade has a twelve month low of $3.08 and a twelve month high of $13.93. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 0.49. The firm has a market cap of $562.13 million, a price-to-earnings ratio of -3.06 and a beta of 2.08. The company has a fifty day simple moving average of $4.08 and a 200 day simple moving average of $3.90.

Accolade (NASDAQ:ACCD) last released its quarterly earnings results on Friday, January 10th. The company reported ($0.30) 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 research analysts expect that Accolade will post -0.92 EPS for the current fiscal year.

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.