Accolade (NASDAQ:ACCD) Lowered to “Hold” Rating by William Blair

Accolade (NASDAQ:ACCD) was downgraded by research analysts at William Blair from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday,Zacks.com reports.

Several other equities research analysts have also recently commented on the stock. Leerink Partners reiterated a “market perform” rating on shares of Accolade in a research report on Wednesday. Barclays dropped their target price on shares of Accolade from $5.50 to $5.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 9th. Wells Fargo & Company decreased their price objective on Accolade from $7.00 to $6.00 and set an “equal weight” rating for the company in a research note on Friday, October 11th. Truist Financial cut their target price on Accolade from $9.00 to $7.50 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. Finally, Raymond James restated a “market perform” rating on shares of Accolade in a research report on Thursday. Ten equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Accolade has an average rating of “Hold” and an average price target of $7.55.

Accolade Stock Up 104.8 %

Shares of ACCD opened at $6.86 on Wednesday. The business’s fifty day moving average price is $3.66 and its two-hundred day moving average price is $3.83. The firm has a market capitalization of $552.48 million, a price-to-earnings ratio of -6.66 and a beta of 2.08. Accolade has a 52 week low of $3.08 and a 52 week high of $15.36. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.72 and a current ratio of 2.72.

Accolade (NASDAQ:ACCD) last announced its quarterly earnings data on Tuesday, October 8th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.14. Accolade had a negative return on equity of 18.43% and a negative net margin of 18.16%. The firm had revenue of $106.40 million during the quarter, compared to analyst estimates of $104.87 million. During the same period last year, the company earned ($0.43) earnings per share. The company’s revenue was up 9.8% on a year-over-year basis. On average, analysts predict 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 company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 814,316 shares of the company’s stock, valued at approximately $2,931,537.60. This represents a 1.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 40,881 shares of company stock worth $144,987 over the last quarter. 8.20% of the stock is currently owned by company insiders.

Institutional Trading of Accolade

A number of institutional investors have recently modified their holdings of the company. Millennium Management LLC grew its holdings in shares of Accolade by 244.7% during the second quarter. Millennium Management LLC now owns 2,623,201 shares of the company’s stock worth $9,391,000 after buying an additional 1,862,178 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Accolade by 4.9% in the third quarter. Geode Capital Management LLC now owns 1,782,038 shares of the company’s stock valued at $6,862,000 after purchasing an additional 83,556 shares during the last quarter. Clearline Capital LP lifted its position in shares of Accolade by 85.3% in the third quarter. Clearline Capital LP now owns 1,539,578 shares of the company’s stock worth $5,927,000 after purchasing an additional 708,794 shares in the last quarter. Whetstone Capital Advisors LLC acquired a new position in Accolade during the third quarter worth $3,842,000. Finally, Point72 Asset Management L.P. bought a new position in Accolade in the third quarter valued at $2,378,000. 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.