Accolade (NASDAQ:ACCD) Price Target Cut to $8.00

Accolade (NASDAQ:ACCD) had its price objective reduced by Stifel Nicolaus from $13.00 to $8.00 in a report published on Friday, Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also weighed in on ACCD. Barclays reduced their target price on Accolade from $11.00 to $5.50 and set an equal weight rating for the company in a report on Friday. Canaccord Genuity Group reduced their target price on Accolade from $16.00 to $13.00 and set a buy rating for the company in a report on Friday. Guggenheim dropped their price target on Accolade from $13.00 to $6.00 and set a buy rating on the stock in a research report on Friday. Morgan Stanley dropped their price target on Accolade from $12.00 to $6.00 and set an equal weight rating on the stock in a research report on Friday. Finally, Needham & Company LLC reaffirmed a buy rating and issued a $13.00 price target on shares of Accolade in a research report on Monday, June 24th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Accolade currently has an average rating of Moderate Buy and an average price target of $11.65.

Accolade Stock Down 1.1 %

Shares of Accolade stock opened at $3.54 on Friday. The firm has a market cap of $283.24 million, a price-to-earnings ratio of -3.05 and a beta of 2.00. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.80 and a quick ratio of 2.80. Accolade has a 52-week low of $3.48 and a 52-week high of $15.36. The stock has a 50-day simple moving average of $7.09 and a 200-day simple moving average of $9.66.

Accolade (NASDAQ:ACCD) last announced its quarterly earnings results on Thursday, June 27th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.48) by $0.13. Accolade had a negative return on equity of 20.30% and a negative net margin of 20.62%. The business had revenue of $110.50 million during the quarter, compared to analyst estimates of $105.22 million. During the same period in the previous year, the company earned ($0.52) EPS. The firm’s revenue was up 18.6% on a year-over-year basis. On average, equities research analysts expect that Accolade will post -1.23 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Colin Mchugh sold 5,543 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $6.62, for a total transaction of $36,694.66. Following the sale, the chief accounting officer now directly owns 50,177 shares in the company, valued at $332,171.74. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have sold 14,303 shares of company stock worth $100,342. Company insiders own 8.20% of the company’s stock.

Institutional Trading of Accolade

Several institutional investors have recently bought and sold shares of the stock. ARK Investment Management LLC boosted its stake in Accolade by 12.6% in the 4th quarter. ARK Investment Management LLC now owns 6,805,208 shares of the company’s stock valued at $81,731,000 after buying an additional 762,685 shares in the last quarter. Vanguard Group Inc. boosted its stake in Accolade by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 5,403,256 shares of the company’s stock valued at $56,626,000 after buying an additional 77,044 shares in the last quarter. Bellevue Group AG boosted its stake in Accolade by 6.6% in the 1st quarter. Bellevue Group AG now owns 4,804,514 shares of the company’s stock valued at $50,351,000 after buying an additional 297,110 shares in the last quarter. Rock Springs Capital Management LP boosted its stake in Accolade by 3.3% in the 3rd quarter. Rock Springs Capital Management LP now owns 2,913,000 shares of the company’s stock valued at $30,820,000 after buying an additional 93,000 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Accolade by 2.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,921,676 shares of the company’s stock valued at $23,083,000 after buying an additional 50,311 shares in the last quarter. Institutional investors and hedge funds own 84.99% of the company’s stock.

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 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.