Piper Sandler Cuts Accolade (NASDAQ:ACCD) Price Target to $35.00

Accolade (NASDAQ:ACCD) had its price target decreased by Piper Sandler from $45.00 to $35.00 in a report issued on Tuesday, The Fly reports.

Other equities analysts have also issued research reports about the company. Robert W. Baird raised Accolade from a neutral rating to an outperform rating and dropped their price objective for the stock from $58.00 to $54.00 in a report on Friday, September 17th. They noted that the move was a valuation call. dropped their price objective on Accolade from $62.00 to $52.00 and set a buy rating on the stock in a report on Friday, October 8th. Needham & Company LLC dropped their price objective on Accolade from $56.00 to $33.00 and set a buy rating on the stock in a report on Tuesday. Morgan Stanley dropped their price objective on Accolade from $56.00 to $31.00 and set an overweight rating on the stock in a report on Friday, December 17th. Finally, Jefferies Financial Group started coverage on Accolade in a report on Wednesday, December 1st. They set a buy rating and a $33.00 price target on the stock. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Buy and an average target price of $43.73.

Accolade stock opened at $20.21 on Tuesday. Accolade has a 1-year low of $18.72 and a 1-year high of $59.93. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.21 and a quick ratio of 1.67. The stock has a market cap of $1.35 billion, a PE ratio of -11.68 and a beta of 1.82. The stock’s fifty day moving average is $27.31 and its two-hundred day moving average is $39.09.

Accolade (NASDAQ:ACCD) last posted its quarterly earnings results on Monday, January 10th. The company reported $0.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.68) by $0.99. Accolade had a negative return on equity of 20.66% and a negative net margin of 33.86%. The company had revenue of $83.45 million for the quarter, compared to analysts’ expectations of $75.89 million. During the same period last year, the firm earned ($0.32) earnings per share. Accolade’s quarterly revenue was up 117.1% on a year-over-year basis. On average, research analysts expect that Accolade will post -2.66 earnings per share for the current fiscal year.

A number of large investors have recently made changes to their positions in ACCD. Nisa Investment Advisors LLC acquired a new stake in Accolade in the second quarter valued at about $28,000. First Horizon Advisors Inc. acquired a new stake in Accolade in the third quarter valued at about $28,000. US Bancorp DE lifted its position in Accolade by 920.6% in the second quarter. US Bancorp DE now owns 694 shares of the company’s stock valued at $37,000 after purchasing an additional 626 shares during the period. Strs Ohio acquired a new stake in Accolade in the third quarter valued at about $63,000. Finally, Great West Life Assurance Co. Can lifted its position in Accolade by 91.6% in the second quarter. Great West Life Assurance Co. Can now owns 1,767 shares of the company’s stock valued at $96,000 after purchasing an additional 845 shares during the period. Hedge funds and other institutional investors own 72.11% of the company’s stock.

Accolade Company Profile

Accolade, Inc develops and provides 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 nurses, physician medical directors, and behavioral health specialists.

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