Accolade (NASDAQ:ACCD) PT Lowered to $14.00

Accolade (NASDAQ:ACCD) had its price target trimmed by Truist Financial from $16.00 to $14.00 in a report released on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

ACCD has been the subject of a number of other research reports. Wells Fargo & Company increased their target price on shares of Accolade from $10.00 to $12.00 and gave the stock an equal weight rating in a research report on Tuesday, January 9th. Canaccord Genuity Group dropped their target price on shares of Accolade from $18.00 to $16.00 and set a buy rating for the company in a research report on Friday. Raymond James increased their target price on shares of Accolade from $12.00 to $16.00 and gave the stock an outperform rating in a research report on Tuesday, January 9th. Piper Sandler increased their target price on shares of Accolade from $12.00 to $15.00 and gave the stock an overweight rating in a research report on Tuesday, January 9th. Finally, Stifel Nicolaus dropped their target price on shares of Accolade from $15.00 to $13.00 and set a buy rating for the company in a research report on Monday, April 22nd. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, Accolade has a consensus rating of Moderate Buy and a consensus target price of $14.80.

Accolade Trading Down 14.1 %

NASDAQ ACCD opened at $7.89 on Friday. Accolade has a 12 month low of $6.33 and a 12 month high of $17.00. The company has a 50-day moving average of $9.66 and a 200-day moving average of $9.91. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.35 and a quick ratio of 2.35. The company has a market cap of $610.75 million, a P/E ratio of -4.78 and a beta of 2.08.

Accolade (NASDAQ:ACCD) last posted its quarterly earnings data on Thursday, April 25th. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. Accolade had a negative net margin of 31.59% and a negative return on equity of 27.27%. The company had revenue of $124.80 million during the quarter, compared to the consensus estimate of $123.91 million. During the same quarter in the prior year, the company posted ($0.42) EPS. The company’s quarterly revenue was up 26.1% compared to the same quarter last year. As a group, equities analysts predict that Accolade will post -1.33 earnings per share for the current year.

Hedge Funds Weigh In On Accolade

Several institutional investors and hedge funds have recently made changes to their positions in the business. Nordea Investment Management AB boosted its stake in shares of Accolade by 1.4% during the 3rd 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 during the last quarter. Handelsbanken Fonder AB boosted its stake in shares of Accolade by 14.8% during the 3rd quarter. Handelsbanken Fonder AB now owns 16,765 shares of the company’s stock valued at $177,000 after buying an additional 2,165 shares during the last quarter. BluePath Capital Management LLC purchased a new position in shares of Accolade during the 3rd quarter valued at approximately $28,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Accolade during the 3rd quarter valued at approximately $28,000. Finally, Barclays PLC boosted its stake in shares of Accolade by 10.8% during the 3rd quarter. Barclays PLC now owns 37,630 shares of the company’s stock valued at $398,000 after buying an additional 3,671 shares during the last quarter. 84.99% of the stock is currently owned by hedge funds and other 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 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.