Stephens Reiterates Equal Weight Rating for Accolade (NASDAQ:ACCD)

Accolade (NASDAQ:ACCD)‘s stock had its “equal weight” rating reaffirmed by research analysts at Stephens in a report released on Wednesday,Benzinga reports. They presently have a $7.03 price target on the stock. Stephens’ price target points to a potential upside of 1.96% from the stock’s previous close.

Other analysts have also issued reports about the stock. Truist Financial lowered shares of Accolade from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Canaccord Genuity Group reiterated a “hold” rating on shares of Accolade in a research note on Wednesday, January 8th. Morgan Stanley dropped their price target on Accolade from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. Stifel Nicolaus reissued a “hold” rating and issued a $7.03 target price (down previously from $8.00) on shares of Accolade in a report on Thursday, January 9th. Finally, Leerink Partnrs downgraded Accolade from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 8th. Twelve equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $7.46.

Accolade Stock Up 0.4 %

Shares of NASDAQ ACCD traded up $0.03 on Wednesday, reaching $6.90. 328,560 shares of the company’s stock traded hands, compared to its average volume of 3,182,999. Accolade has a 12 month low of $3.08 and a 12 month high of $13.47. The company has a quick ratio of 2.63, a current ratio of 2.63 and a debt-to-equity ratio of 0.67. The company has a market cap of $562.56 million, a price-to-earnings ratio of -3.06 and a beta of 2.20. The business’s 50 day simple moving average is $5.18 and its two-hundred day simple moving average is $4.29.

Accolade (NASDAQ:ACCD) last released its earnings results on Friday, January 10th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.01. Accolade had a negative return on equity of 20.74% and a negative net margin of 40.36%. As a group, equities research analysts forecast that Accolade will post -1.2 EPS for the current fiscal year.

Insider Activity

In related news, CEO Rajeev Singh sold 13,357 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $3.60, for a total transaction of $48,085.20. Following the completion of the sale, the chief executive officer now owns 814,316 shares in the company, valued at approximately $2,931,537.60. This trade represents a 1.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 40,145 shares of company stock worth $157,917 in the last three months. Company insiders own 8.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ACCD. Whetstone Capital Advisors LLC purchased a new position in shares of Accolade during the third quarter valued at about $3,842,000. Johnson Financial Group LLC bought a new stake in shares of Accolade during the third quarter worth $1,642,000. Nisa Investment Advisors LLC boosted its stake in shares of Accolade by 15,113.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 55,680 shares of the company’s stock valued at $190,000 after purchasing an additional 55,314 shares during the period. Point72 Asset Management L.P. purchased a new position in Accolade in the 3rd quarter worth about $2,378,000. Finally, Barclays PLC lifted its holdings in Accolade by 164.4% during the 3rd quarter. Barclays PLC now owns 139,901 shares of the company’s stock valued at $539,000 after buying an additional 86,981 shares in the last quarter. 84.99% of the stock is currently owned by institutional investors.

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 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.