Accolade (NASDAQ:ACCD) Price Target Cut to $13.00 by Analysts at Guggenheim

Accolade (NASDAQ:ACCD) had its price objective reduced by analysts at Guggenheim from $17.00 to $13.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Guggenheim’s price objective indicates a potential upside of 81.82% from the company’s current price.

A number of other research analysts have also commented on ACCD. Morgan Stanley decreased their price objective on Accolade from $13.00 to $12.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Canaccord Genuity Group cut their price target on Accolade from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, April 26th. Truist Financial dropped their price objective on Accolade from $16.00 to $14.00 and set a “buy” rating for the company in a report on Friday, April 26th. Stifel Nicolaus decreased their price target on Accolade from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Finally, Raymond James increased their price objective on shares of Accolade from $12.00 to $16.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 9th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $14.14.

Accolade Stock Performance

NASDAQ ACCD traded down $0.29 during trading on Wednesday, reaching $7.15. 287,206 shares of the company’s stock were exchanged, compared to its average volume of 733,334. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.64 and a quick ratio of 2.64. The business has a 50 day moving average price of $9.17 and a 200-day moving average price of $9.96. The stock has a market capitalization of $560.27 million, a P/E ratio of -5.35 and a beta of 2.15. Accolade has a fifty-two week low of $6.33 and a fifty-two week high of $15.36.

Accolade (NASDAQ:ACCD) last announced its quarterly earnings results on Thursday, April 25th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.01. The business had revenue of $124.80 million during the quarter, compared to the consensus estimate of $123.91 million. Accolade had a negative return on equity of 22.53% and a negative net margin of 24.09%. The company’s quarterly revenue was up 26.1% on a year-over-year basis. During the same quarter last year, the firm posted ($0.42) EPS. Sell-side analysts forecast that Accolade will post -1.24 earnings per share for the current fiscal year.

Institutional Trading of Accolade

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ACCD. DekaBank Deutsche Girozentrale acquired a new position in Accolade in the third quarter valued at approximately $28,000. AJOVista LLC bought a new position in Accolade in the 4th quarter valued at about $68,000. Allspring Global Investments Holdings LLC bought a new stake in Accolade during the first quarter worth $87,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Accolade by 84.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,928 shares of the company’s stock valued at $126,000 after purchasing an additional 5,455 shares during the last quarter. Finally, Olympiad Research LP bought a new position in shares of Accolade during the 3rd quarter worth approximately $171,000. Institutional investors and hedge funds own 84.99% of the company’s stock.

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.