Accolade (NASDAQ:ACCD) Issues Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Accolade (NASDAQ:ACCD) issued its quarterly earnings results on Friday. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.01, Zacks reports. Accolade had a negative net margin of 18.16% and a negative return on equity of 18.43%.

Accolade Price Performance

NASDAQ ACCD traded down $0.01 during trading hours on Friday, reaching $6.85. 3,656,461 shares of the stock traded hands, compared to its average volume of 5,130,888. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.72 and a quick ratio of 2.72. The stock has a 50 day simple moving average of $3.66 and a two-hundred day simple moving average of $3.83. Accolade has a 1 year low of $3.08 and a 1 year high of $15.21. The company has a market cap of $551.68 million, a price-to-earnings ratio of -6.65 and a beta of 2.08.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ACCD shares. Stifel Nicolaus reissued a “hold” rating and set a $7.03 target price (down previously from $8.00) on shares of Accolade in a report on Thursday. Needham & Company LLC reissued a “hold” rating on shares of Accolade in a report on Wednesday. Morgan Stanley cut their target price on Accolade from $6.00 to $5.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 17th. William Blair cut Accolade from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Finally, Stephens cut their price objective on shares of Accolade from $10.00 to $8.00 and set an “overweight” rating for the company in a research report on Wednesday, October 9th. Ten analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $7.55.

Insider Transactions at Accolade

In other news, CEO Rajeev Singh sold 13,357 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was 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 approximately $2,931,537.60. The trade was a 1.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last three months, insiders sold 40,881 shares of company stock worth $144,987. 8.20% of the stock is currently owned by corporate insiders.

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.