Accolade (NASDAQ:ACCD) Price Target Lowered to $11.00 at Barclays

Accolade (NASDAQ:ACCD) had its price target reduced by Barclays from $13.00 to $11.00 in a research note released on Friday morning, Marketbeat reports. Barclays currently has an equal weight rating on the stock.

A number of other brokerages have also weighed in on ACCD. Raymond James boosted their price objective on Accolade from $12.00 to $16.00 and gave the stock an outperform rating in a research report on Tuesday, January 9th. Stifel Nicolaus reduced their price objective on Accolade from $15.00 to $13.00 and set a buy rating on the stock in a research report on Monday, April 22nd. SVB Leerink started coverage on Accolade in a research report on Monday, February 26th. They set an outperform rating and a $16.00 price objective on the stock. Needham & Company LLC restated a buy rating and set a $17.00 price objective on shares of Accolade in a research report on Friday, January 19th. Finally, Piper Sandler lifted their target price on Accolade from $12.00 to $15.00 and gave the stock an overweight rating in a report on Tuesday, January 9th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $14.80.

Accolade Trading Down 14.1 %

Shares of ACCD opened at $7.89 on Friday. Accolade has a 52-week low of $6.33 and a 52-week high of $17.00. The business’s fifty day moving average is $9.66 and its 200-day moving average is $9.93. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.35 and a current ratio of 2.35. The firm has a market cap of $610.76 million, a price-to-earnings ratio of -5.93 and a beta of 2.08.

Accolade (NASDAQ:ACCD) last issued its quarterly earnings results on Thursday, April 25th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.01. The company had revenue of $124.80 million for the quarter, compared to analyst estimates of $123.91 million. Accolade had a negative return on equity of 22.57% and a negative net margin of 24.09%. The company’s revenue for the quarter was up 26.1% compared to the same quarter last year. During the same quarter last year, the company posted ($0.42) EPS. Equities analysts anticipate that Accolade will post -1.2 EPS for the current fiscal year.

Institutional Trading of Accolade

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ACCD. AE Wealth Management LLC bought a new stake in Accolade during the 3rd quarter worth approximately $400,000. Handelsbanken Fonder AB grew its holdings in shares of Accolade by 14.8% in the third quarter. Handelsbanken Fonder AB now owns 16,765 shares of the company’s stock valued at $177,000 after acquiring an additional 2,165 shares in the last quarter. Raymond James & Associates bought a new position in shares of Accolade in the third quarter valued at approximately $272,000. Bank of New York Mellon Corp grew its holdings in shares of Accolade by 2.7% in the third quarter. Bank of New York Mellon Corp now owns 230,092 shares of the company’s stock valued at $2,434,000 after acquiring an additional 6,069 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Accolade by 84.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,928 shares of the company’s stock valued at $126,000 after acquiring an additional 5,455 shares in the last quarter. 84.99% of the stock is 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 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.