Accolade, Inc. (NASDAQ:ACCD) Given Average Rating of “Moderate Buy” by Analysts

Shares of Accolade, Inc. (NASDAQ:ACCD) have been given a consensus recommendation of “Moderate Buy” by the sixteen research firms that are presently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $15.67.

ACCD has been the topic of a number of research reports. Raymond James upped their price target on Accolade from $12.00 to $16.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 9th. Leerink Partnrs restated an “outperform” rating on shares of Accolade in a research note on Monday, February 26th. Wells Fargo & Company upped their price target on Accolade from $10.00 to $12.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 9th. William Blair restated an “outperform” rating on shares of Accolade in a research note on Tuesday, January 9th. Finally, Truist Financial upped their price target on Accolade from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday, January 9th.

Accolade Trading Down 5.0 %

Shares of Accolade stock opened at $8.25 on Friday. The firm has a market capitalization of $638.63 million, a price-to-earnings ratio of -5.00 and a beta of 2.08. Accolade has a fifty-two week low of $6.33 and a fifty-two week high of $17.00. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.35 and a current ratio of 2.35. The stock has a 50 day moving average of $10.48 and a 200 day moving average of $9.97.

Institutional Trading of Accolade

Hedge funds and other institutional investors have recently bought and sold shares of the business. Nordea Investment Management AB raised its stake in Accolade by 1.4% in the third quarter. Nordea Investment Management AB now owns 106,764 shares of the company’s stock valued at $1,148,000 after buying an additional 1,423 shares in the last quarter. HighTower Advisors LLC acquired a new stake in Accolade in the third quarter valued at $2,354,000. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Accolade by 111.1% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,798,993 shares of the company’s stock valued at $19,033,000 after buying an additional 946,970 shares in the last quarter. Vanguard Group Inc. raised its stake in Accolade by 3.1% in the third quarter. Vanguard Group Inc. now owns 5,283,858 shares of the company’s stock valued at $55,903,000 after buying an additional 157,464 shares in the last quarter. Finally, Olympiad Research LP purchased a new position in shares of Accolade during the third quarter worth about $171,000. 84.99% of the stock is currently owned by institutional investors and hedge funds.

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 technology and multimodal support from a team of health assistants and clinicians, including registered nurses, physician medical directors, pharmacists, behavioral health specialists, women's health specialists, case management specialists, expert medical opinion providers, and virtual primary care physicians.