Accolade (NASDAQ:ACCD) Given “Equal Weight” Rating at Stephens

Accolade (NASDAQ:ACCD)‘s stock had its “equal weight” rating reissued by analysts at Stephens in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $7.03 target price on the stock. Stephens’ price objective would indicate a potential upside of 1.96% from the stock’s previous close.

ACCD has been the topic of several other reports. Truist Financial downgraded shares of Accolade from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Accolade in a report on Wednesday, January 8th. Leerink Partnrs lowered Accolade from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 8th. Stifel Nicolaus restated a “hold” rating and issued a $7.03 target price (down previously from $8.00) on shares of Accolade in a research note on Thursday, January 9th. Finally, Leerink Partners restated a “market perform” rating on shares of Accolade in a research report on Wednesday, January 8th. Twelve equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $7.46.

Accolade Trading Up 0.4 %

Shares of NASDAQ:ACCD traded up $0.03 during midday trading on Wednesday, reaching $6.90. The company’s stock had a trading volume of 328,560 shares, compared to its average volume of 3,182,999. Accolade has a fifty-two week low of $3.08 and a fifty-two week high of $13.47. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.63 and a current ratio of 2.63. The firm has a 50 day moving average price of $5.18 and a two-hundred day moving average price of $4.29. The firm has a market capitalization of $562.56 million, a price-to-earnings ratio of -3.06 and a beta of 2.20.

Accolade (NASDAQ:ACCD) last released its quarterly earnings results on Friday, January 10th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.01. Accolade had a negative net margin of 40.36% and a negative return on equity of 20.74%. As a group, analysts forecast that Accolade will post -1.2 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 dated Tuesday, December 3rd. The stock was sold at an average price of $3.60, for a total transaction of $48,085.20. Following the transaction, the chief executive officer now directly owns 814,316 shares of the company’s stock, valued at approximately $2,931,537.60. This trade represents a 1.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In the last quarter, insiders have sold 40,145 shares of company stock worth $157,917. 8.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Accolade

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Mission Creek Capital Partners Inc. bought a new stake in shares of Accolade in the 3rd quarter worth approximately $38,000. Pallas Capital Advisors LLC purchased a new position in Accolade in the 4th quarter worth $38,000. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in Accolade in the third quarter worth $46,000. Wolverine Trading LLC purchased a new stake in Accolade during the third quarter valued at about $51,000. Finally, Point72 Asia Singapore Pte. Ltd. grew its stake in shares of Accolade by 1,144.1% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 20,913 shares of the company’s stock valued at $81,000 after buying an additional 19,232 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 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.