Accolade, Inc. (NASDAQ:ACCD) Receives Consensus Rating of “Moderate Buy” from Brokerages

Accolade, Inc. (NASDAQ:ACCD) has been assigned a consensus recommendation of “Moderate Buy” from the sixteen ratings firms that are presently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $14.57.

ACCD has been the subject of several analyst reports. Raymond James increased their price objective on shares of Accolade from $12.00 to $16.00 and gave the company an “outperform” rating in a research note on Tuesday, January 9th. Piper Sandler increased their price objective on shares of Accolade from $12.00 to $15.00 and gave the company an “overweight” rating in a research note on Tuesday, January 9th. Wells Fargo & Company decreased their price target on shares of Accolade from $12.00 to $10.00 and set an “equal weight” rating for the company in a research note on Tuesday. Barclays decreased their price target on shares of Accolade from $13.00 to $11.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. Finally, Truist Financial decreased their price target on shares of Accolade from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, April 26th.

Accolade Stock Performance

Shares of ACCD opened at $7.36 on Thursday. The company has a current ratio of 2.64, a quick ratio of 2.35 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $576.73 million, a P/E ratio of -5.53 and a beta of 2.08. The firm’s fifty day simple moving average is $9.42 and its two-hundred day simple moving average is $9.93. Accolade has a 12 month low of $6.33 and a 12 month high of $15.36.

Accolade (NASDAQ:ACCD) last released its quarterly earnings data on Thursday, April 25th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.01. Accolade had a negative net margin of 24.09% and a negative return on equity of 22.53%. The company had revenue of $124.80 million for the quarter, compared to analysts’ expectations of $123.91 million. During the same quarter in the prior year, the firm earned ($0.42) EPS. The business’s revenue was up 26.1% on a year-over-year basis. As a group, analysts predict that Accolade will post -1.15 EPS for the current year.

Institutional Investors Weigh In On Accolade

Several large investors have recently modified their holdings of the business. Nordea Investment Management AB raised its stake in shares of Accolade by 1.4% during the 3rd quarter. Nordea Investment Management AB now owns 106,764 shares of the company’s stock worth $1,148,000 after acquiring an additional 1,423 shares in the last quarter. HighTower Advisors LLC bought a new position in shares of Accolade during the 3rd quarter worth approximately $2,354,000. Vanguard Group Inc. raised its stake in shares of Accolade by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 5,283,858 shares of the company’s stock worth $55,903,000 after acquiring an additional 157,464 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Accolade by 111.1% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,798,993 shares of the company’s stock worth $19,033,000 after acquiring an additional 946,970 shares in the last quarter. Finally, Olympiad Research LP bought a new position in shares of Accolade during the 3rd quarter worth approximately $171,000. 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 technology and multimodal support from a team of health assistants and clinicians, including registered nurses, physician medical directors, pharmacists, behavioral health specialists, women's health specialists, case management specialists, expert medical opinion providers, and virtual primary care physicians.