Truist Financial Cuts Accolade (NASDAQ:ACCD) Price Target to $7.50

Accolade (NASDAQ:ACCD) had its price target trimmed by Truist Financial from $9.00 to $7.50 in a research note published on Wednesday, Benzinga reports. The firm currently has a buy rating on the stock.

Several other brokerages have also recently commented on ACCD. Barclays reduced their price objective on Accolade from $5.50 to $5.00 and set an equal weight rating for the company in a research note on Wednesday. Guggenheim reduced their target price on shares of Accolade from $13.00 to $6.00 and set a buy rating for the company in a research report on Friday, June 28th. Needham & Company LLC restated a buy rating and set a $8.00 price target on shares of Accolade in a research report on Monday, October 7th. Stephens dropped their price objective on shares of Accolade from $10.00 to $8.00 and set an overweight rating for the company in a research note on Wednesday. Finally, Morgan Stanley decreased their target price on shares of Accolade from $12.00 to $6.00 and set an equal weight rating on the stock in a research note on Friday, June 28th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $9.04.

Accolade Stock Down 2.1 %

Shares of NASDAQ ACCD opened at $3.79 on Wednesday. The firm has a market cap of $305.25 million, a price-to-earnings ratio of -3.68 and a beta of 1.99. The company’s 50-day simple moving average is $4.02 and its 200-day simple moving average is $5.73. The company has a quick ratio of 2.80, a current ratio of 2.72 and a debt-to-equity ratio of 0.49. Accolade has a 52-week low of $3.35 and a 52-week high of $15.36.

Accolade (NASDAQ:ACCD) last posted its quarterly earnings data on Tuesday, October 8th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.14. Accolade had a negative return on equity of 18.43% and a negative net margin of 18.16%. The company had revenue of $106.40 million for the quarter, compared to analysts’ expectations of $104.87 million. During the same period in the previous year, the firm posted ($0.43) EPS. Accolade’s revenue was up 9.8% compared to the same quarter last year. Equities analysts predict that Accolade will post -1.09 EPS for the current fiscal year.

Institutional Investors Weigh In On Accolade

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ACCD. Allspring Global Investments Holdings LLC purchased a new position in shares of Accolade during the 1st quarter worth $87,000. SG Americas Securities LLC acquired a new position in Accolade in the second quarter valued at about $43,000. GGV Capital LLC lifted its position in Accolade by 242.9% in the first quarter. GGV Capital LLC now owns 18,063 shares of the company’s stock valued at $189,000 after buying an additional 12,795 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Accolade by 15.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 19,540 shares of the company’s stock worth $205,000 after buying an additional 2,586 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Accolade by 22.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,373 shares of the company’s stock valued at $73,000 after acquiring an additional 3,789 shares during the last quarter. Hedge funds and other institutional investors 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.