Accolade (NASDAQ:ACCD) PT Lowered to $13.00

Accolade (NASDAQ:ACCD) had its price objective reduced by Needham & Company LLC from $17.00 to $13.00 in a report issued on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts have also recently commented on the company. Raymond James lifted 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. Leerink Partnrs restated an outperform rating on shares of Accolade in a research report on Monday, February 26th. Truist Financial boosted their price target on Accolade from $15.00 to $16.00 and gave the company a buy rating in a report on Tuesday, January 9th. SVB Leerink initiated coverage on Accolade in a research report on Monday, February 26th. They issued an outperform rating and a $16.00 price objective for the company. Finally, Barclays decreased their price target on Accolade from $13.00 to $11.00 and set an equal weight rating on the stock in a research note on Friday. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Accolade currently has a consensus rating of Moderate Buy and a consensus target price of $14.80.

Accolade Stock Performance

NASDAQ:ACCD opened at $8.19 on Friday. Accolade has a twelve month low of $6.33 and a twelve month high of $15.36. The company has a market capitalization of $633.99 million, a P/E ratio of -6.16 and a beta of 2.08. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.48. The firm has a 50-day moving average price of $9.58 and a two-hundred day moving average price of $9.94.

Accolade (NASDAQ:ACCD) last issued its quarterly earnings data on Thursday, April 25th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.01. The firm had revenue of $124.80 million during the quarter, compared to the consensus estimate 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 quarterly revenue was up 26.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.42) EPS. As a group, research analysts expect that Accolade will post -1.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ACCD. Nordea Investment Management AB raised its stake in shares of Accolade by 1.4% during the third quarter. Nordea Investment Management AB now owns 106,764 shares of the company’s stock valued at $1,148,000 after purchasing an additional 1,423 shares during the period. Handelsbanken Fonder AB increased its stake in Accolade by 14.8% during the 3rd quarter. Handelsbanken Fonder AB now owns 16,765 shares of the company’s stock worth $177,000 after buying an additional 2,165 shares during the period. BluePath Capital Management LLC acquired a new position in Accolade in the 3rd quarter worth $28,000. DekaBank Deutsche Girozentrale purchased a new position in Accolade in the 3rd quarter valued at about $28,000. Finally, Barclays PLC grew its stake in shares of Accolade by 10.8% during the third quarter. Barclays PLC now owns 37,630 shares of the company’s stock valued at $398,000 after acquiring an additional 3,671 shares in the last quarter. 84.99% of the stock is owned by hedge funds and other 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.