Accolade (NASDAQ:ACCD) Receives Market Perform Rating from Raymond James

Accolade (NASDAQ:ACCD)‘s stock had its “market perform” rating reaffirmed by investment analysts at Raymond James in a research note issued to investors on Thursday,Benzinga reports.

ACCD has been the topic of a number of other research reports. Wells Fargo & Company dropped their price objective on shares of Accolade from $7.00 to $6.00 and set an “equal weight” rating on the stock in a research note on Friday, October 11th. Leerink Partners reiterated a “market perform” rating on shares of Accolade in a report on Wednesday. Truist Financial lowered their target price on Accolade from $9.00 to $7.50 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Morgan Stanley cut their price target on Accolade from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. Finally, Barclays lowered 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, October 9th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $8.96.

Accolade Stock Up 104.8 %

Shares of NASDAQ ACCD opened at $6.86 on Thursday. The stock has a fifty day moving average price of $3.59 and a 200 day moving average price of $3.81. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 0.49. Accolade has a 12-month low of $3.08 and a 12-month high of $15.36. The company has a market cap of $552.48 million, a P/E ratio of -6.66 and a beta of 2.08.

Accolade (NASDAQ:ACCD) last announced its earnings results on Tuesday, October 8th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.14. The business had revenue of $106.40 million for the quarter, compared to the consensus estimate of $104.87 million. Accolade had a negative return on equity of 18.43% and a negative net margin of 18.16%. The company’s revenue was up 9.8% on a year-over-year basis. During the same period last year, the business posted ($0.43) EPS. Research analysts anticipate that Accolade will post -0.92 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Rajeev Singh sold 13,357 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $3.60, for a total transaction of $48,085.20. Following the sale, the chief executive officer now owns 814,316 shares in the company, valued at $2,931,537.60. This represents a 1.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 42,006 shares of company stock worth $149,228 over the last ninety days. 8.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Accolade

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Millennium Management LLC lifted its holdings in shares of Accolade by 244.7% in the 2nd quarter. Millennium Management LLC now owns 2,623,201 shares of the company’s stock worth $9,391,000 after purchasing an additional 1,862,178 shares during the last quarter. Whetstone Capital Advisors LLC acquired a new stake in Accolade in the third quarter worth $3,842,000. Clearline Capital LP bought a new stake in Accolade in the second quarter valued at $2,974,000. Point72 Asset Management L.P. acquired a new position in shares of Accolade during the third quarter valued at $2,378,000. Finally, Johnson Financial Group LLC bought a new position in shares of Accolade during the third quarter worth about $1,642,000. 84.99% of the stock is currently owned by institutional investors and hedge funds.

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.