Accolade (NASDAQ:ACCD) Price Target Lowered to $14.00 at Truist Financial

Accolade (NASDAQ:ACCD) had its price target cut by Truist Financial from $16.00 to $14.00 in a research report report published on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts have also weighed in on the stock. Canaccord Genuity Group dropped their price objective on shares of Accolade from $18.00 to $16.00 and set a buy rating on the stock in a research note on Friday. Barclays cut their target price on Accolade from $13.00 to $11.00 and set an equal weight rating on the stock in a research note on Friday. Wells Fargo & Company lifted their price objective on shares of Accolade from $10.00 to $12.00 and gave the company an equal weight rating in a research report on Tuesday, January 9th. SVB Leerink started coverage on shares of Accolade in a research note on Monday, February 26th. They issued an outperform rating and a $16.00 price target on the stock. Finally, Needham & Company LLC reduced their price objective on Accolade from $17.00 to $13.00 and set a buy rating for the company in a research report on Friday. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Accolade has a consensus rating of Moderate Buy and an average price target of $14.80.

Accolade Stock Down 14.1 %

Shares of Accolade stock opened at $7.89 on Friday. The business has a 50-day moving average price of $9.66 and a 200 day moving average price of $9.93. Accolade has a fifty-two week low of $6.33 and a fifty-two week high of $17.00. The firm has a market cap of $610.76 million, a P/E ratio of -5.93 and a beta of 2.08. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.48.

Accolade (NASDAQ:ACCD) last posted 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. Accolade had a negative return on equity of 22.57% and a negative net margin of 24.09%. The business had revenue of $124.80 million for the quarter, compared to analyst estimates of $123.91 million. During the same period in the prior year, the company posted ($0.42) EPS. The business’s revenue was up 26.1% compared to the same quarter last year. On average, sell-side analysts forecast that Accolade will post -1.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Accolade

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nordea Investment Management AB lifted its position in shares of Accolade by 1.4% in the third quarter. Nordea Investment Management AB now owns 106,764 shares of the company’s stock worth $1,148,000 after purchasing an additional 1,423 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in shares of Accolade by 14.8% during the third quarter. Handelsbanken Fonder AB now owns 16,765 shares of the company’s stock worth $177,000 after acquiring an additional 2,165 shares in the last quarter. BluePath Capital Management LLC acquired a new stake in Accolade during the third quarter valued at $28,000. DekaBank Deutsche Girozentrale purchased a new position in Accolade in the third quarter valued at about $28,000. Finally, Barclays PLC increased its position in Accolade by 10.8% in the 3rd quarter. Barclays PLC now owns 37,630 shares of the company’s stock worth $398,000 after purchasing an additional 3,671 shares during the last quarter. Institutional investors and hedge funds 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.