Accolade (NASDAQ:ACCD) Sees Strong Trading Volume

Accolade, Inc. (NASDAQ:ACCD) shares saw an uptick in trading volume on Friday . 70,814 shares were traded during mid-day trading, a decline of 94% from the previous session’s volume of 1,175,640 shares.The stock last traded at $20.05 and had previously closed at $20.98.

Several research firms recently commented on ACCD. Jefferies Financial Group began coverage on shares of Accolade in a research note on Wednesday, December 1st. They issued a “buy” rating and a $33.00 price target on the stock. Piper Sandler reduced their price objective on shares of Accolade from $45.00 to $35.00 in a research note on Tuesday. Robert W. Baird upgraded shares of Accolade from a “neutral” rating to an “outperform” rating and reduced their price objective for the stock from $58.00 to $54.00 in a research note on Friday, September 17th. They noted that the move was a valuation call. Needham & Company LLC reduced their price objective on shares of Accolade from $56.00 to $33.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, BTIG Research reduced their price objective on shares of Accolade from $60.00 to $35.00 in a research note on Tuesday. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Accolade presently has a consensus rating of “Buy” and an average target price of $43.73.

The company has a market cap of $1.31 billion, a price-to-earnings ratio of -11.32 and a beta of 1.82. The company has a current ratio of 2.21, a quick ratio of 1.67 and a debt-to-equity ratio of 0.36. The firm’s 50-day moving average price is $27.31 and its 200 day moving average price is $39.09.

Accolade (NASDAQ:ACCD) last announced its quarterly earnings data on Monday, January 10th. The company reported $0.31 EPS for the quarter, topping the consensus estimate of ($0.68) by $0.99. The company had revenue of $83.45 million during the quarter, compared to the consensus estimate of $75.89 million. Accolade had a negative net margin of 33.86% and a negative return on equity of 20.66%. The company’s quarterly revenue was up 117.1% on a year-over-year basis. During the same quarter last year, the firm posted ($0.32) EPS. Analysts forecast that Accolade, Inc. will post -2.66 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in ACCD. BlackRock Inc. grew its position in shares of Accolade by 40.1% during the 2nd quarter. BlackRock Inc. now owns 2,695,736 shares of the company’s stock worth $146,407,000 after buying an additional 771,578 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Accolade by 66.4% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,397,223 shares of the company’s stock worth $75,883,000 after buying an additional 557,549 shares during the period. Bank of America Corp DE grew its position in shares of Accolade by 835.0% during the 2nd quarter. Bank of America Corp DE now owns 514,574 shares of the company’s stock worth $27,947,000 after buying an additional 459,541 shares during the period. Deutsche Bank AG grew its position in Accolade by 418.8% in the 2nd quarter. Deutsche Bank AG now owns 462,908 shares of the company’s stock valued at $25,141,000 after purchasing an additional 373,676 shares during the period. Finally, Geode Capital Management LLC grew its position in Accolade by 59.3% in the 3rd quarter. Geode Capital Management LLC now owns 908,219 shares of the company’s stock valued at $38,299,000 after purchasing an additional 337,914 shares during the period. 72.11% of the stock is owned by institutional investors.

Accolade Company Profile (NASDAQ:ACCD)

Accolade, Inc develops and provides 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 nurses, physician medical directors, and behavioral health specialists.

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