Accolade, Inc. (NASDAQ:ACCD) Receives $9.04 Consensus PT from Analysts

Accolade, Inc. (NASDAQ:ACCD) has been assigned a consensus rating of “Moderate Buy” from the fifteen ratings firms that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $9.04.

ACCD has been the subject of a number of research reports. Stephens reduced their target price on shares of Accolade from $10.00 to $8.00 and set an “overweight” rating for the company in a report on Wednesday, October 9th. Needham & Company LLC restated a “buy” rating and issued a $8.00 price objective on shares of Accolade in a research note on Monday, October 7th. Truist Financial lowered their target price on Accolade from $9.00 to $7.50 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Canaccord Genuity Group reduced their price target on Accolade from $13.00 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Finally, Barclays lowered their price objective on Accolade from $5.50 to $5.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 9th.

Institutional Investors Weigh In On Accolade

Institutional investors and hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC bought a new position in shares of Accolade during the first quarter worth $87,000. Principal Financial Group Inc. purchased a new position in shares of Accolade during the first quarter valued at about $259,000. Mckinley Capital Management LLC purchased a new position in shares of Accolade during the first quarter valued at about $1,155,000. GSA Capital Partners LLP increased its holdings in shares of Accolade by 102.8% in the first quarter. GSA Capital Partners LLP now owns 51,374 shares of the company’s stock worth $538,000 after purchasing an additional 26,044 shares during the last quarter. Finally, Swiss National Bank lifted its position in shares of Accolade by 1.7% in the first quarter. Swiss National Bank now owns 137,500 shares of the company’s stock worth $1,441,000 after buying an additional 2,300 shares in the last quarter. Institutional investors own 84.99% of the company’s stock.

Accolade Stock Performance

Shares of ACCD opened at $3.56 on Friday. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 0.49. Accolade has a one year low of $3.08 and a one year high of $15.36. The business has a fifty day moving average of $3.76 and a 200 day moving average of $4.94.

Accolade (NASDAQ:ACCD) last announced its earnings results 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 business had revenue of $106.40 million for the quarter, compared to analysts’ expectations of $104.87 million. During the same period last year, the firm posted ($0.43) earnings per share. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Accolade will post -0.92 earnings per share for the current fiscal year.

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 intelligent technology and multimodal support from a team of advocates and clinicians, including registered nurses, physician medical directors, pharmacists, behavioral health specialists, women’s health specialists, case management specialists, expert medical opinion providers, and primary care physicians.