Analysts Set Accolade, Inc. (NASDAQ:ACCD) Target Price at $6.51

Shares of Accolade, Inc. (NASDAQ:ACCD) have earned an average rating of “Hold” from the fourteen brokerages that are currently covering the company, Marketbeat Ratings reports. Thirteen investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $6.51.

A number of analysts recently issued reports on ACCD shares. Truist Financial lowered shares of Accolade from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. William Blair lowered shares of Accolade from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 8th. Canaccord Genuity Group restated a “hold” rating on shares of Accolade in a research report on Wednesday, January 8th. Raymond James restated a “market perform” rating on shares of Accolade in a research report on Thursday, January 9th. Finally, Stifel Nicolaus restated a “hold” rating and set a $7.03 target price (down previously from $8.00) on shares of Accolade in a research report on Thursday, January 9th.

Hedge Funds Weigh In On Accolade

A number of hedge funds have recently made changes to their positions in the business. Mackenzie Financial Corp purchased a new position in shares of Accolade in the 4th quarter valued at $456,000. Two Sigma Advisers LP raised its stake in shares of Accolade by 322.6% in the 4th quarter. Two Sigma Advisers LP now owns 194,800 shares of the company’s stock valued at $666,000 after acquiring an additional 148,700 shares during the period. Two Sigma Investments LP raised its stake in shares of Accolade by 302.3% in the 4th quarter. Two Sigma Investments LP now owns 564,743 shares of the company’s stock valued at $1,931,000 after acquiring an additional 424,356 shares during the period. Point72 Asset Management L.P. raised its stake in shares of Accolade by 36.8% in the 4th quarter. Point72 Asset Management L.P. now owns 844,999 shares of the company’s stock valued at $2,890,000 after acquiring an additional 227,420 shares during the period. Finally, ProShare Advisors LLC raised its stake in shares of Accolade by 49.1% in the 4th quarter. ProShare Advisors LLC now owns 20,574 shares of the company’s stock valued at $70,000 after acquiring an additional 6,771 shares during the period. Hedge funds and other institutional investors own 84.99% of the company’s stock.

Accolade Price Performance

ACCD stock opened at $6.97 on Thursday. The company’s 50 day simple moving average is $6.42 and its 200-day simple moving average is $4.67. The firm has a market capitalization of $571.49 million, a PE ratio of -3.10 and a beta of 2.18. Accolade has a 12 month low of $3.08 and a 12 month high of $10.68. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.63 and a quick ratio of 2.63.

Accolade (NASDAQ:ACCD) last released its quarterly 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 net margin of 40.36% and a negative return on equity of 20.74%. Equities analysts expect that Accolade will post -1.2 earnings per share 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.