Accolade (NASDAQ:ACCD) Receives Hold Rating from Canaccord Genuity Group

Accolade (NASDAQ:ACCD)‘s stock had its “hold” rating reaffirmed by investment analysts at Canaccord Genuity Group in a research report issued to clients and investors on Wednesday,Benzinga reports.

ACCD has been the topic of a number of other reports. Wells Fargo & Company cut their price objective on Accolade from $7.00 to $6.00 and set an “equal weight” rating on the stock in a research note on Friday, October 11th. Stephens dropped their target price on shares of Accolade from $10.00 to $8.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Accolade in a research report on Wednesday. Morgan Stanley cut their price objective on Accolade from $6.00 to $5.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 17th. Finally, Barclays lowered their target price on Accolade from $5.50 to $5.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 9th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Accolade presently has an average rating of “Moderate Buy” and a consensus price target of $8.96.

Accolade Stock Up 104.8 %

ACCD stock traded up $3.51 during trading hours on Wednesday, hitting $6.86. The company’s stock had a trading volume of 24,720,332 shares, compared to its average volume of 5,725,401. The stock has a 50 day moving average price of $3.52 and a two-hundred day moving average price of $3.79. Accolade has a 12 month low of $3.08 and a 12 month high of $15.36. The company has a market capitalization of $552.48 million, a PE ratio of -6.66 and a beta of 2.08. 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 (NASDAQ:ACCD) last posted its earnings results on Tuesday, October 8th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.14. Accolade had a negative net margin of 18.16% and a negative return on equity of 18.43%. The firm had revenue of $106.40 million for the quarter, compared to the consensus estimate of $104.87 million. During the same period in the prior year, the business posted ($0.43) earnings per share. The business’s quarterly revenue was up 9.8% on a year-over-year basis. On average, equities research analysts expect that Accolade will post -0.92 earnings per share for the current year.

Insider Activity

In related news, CEO Rajeev Singh sold 13,357 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $3.60, for a total value of $48,085.20. Following the completion of the sale, the chief executive officer now owns 814,316 shares of the company’s stock, valued at $2,931,537.60. This trade represents a 1.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last ninety days, insiders sold 42,006 shares of company stock worth $149,228. 8.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Mission Creek Capital Partners Inc. acquired a new stake in shares of Accolade during the third quarter worth $38,000. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in shares of Accolade in the 3rd quarter valued at approximately $46,000. Wolverine Trading LLC bought a new position in Accolade during the 3rd quarter worth approximately $51,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in 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 purchasing an additional 3,789 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. increased its stake in Accolade by 1,144.1% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 20,913 shares of the company’s stock valued at $81,000 after purchasing an additional 19,232 shares in the last quarter. 84.99% of the stock is currently owned by institutional investors.

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 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.