Accolade (NASDAQ:ACCD) Downgraded to Neutral at Bank of America

Accolade (NASDAQ:ACCDGet Rating) was downgraded by investment analysts at Bank of America from a “buy” rating to a “neutral” rating in a research note issued on Friday, The Fly reports. They presently have a $9.00 price objective on the stock, down from their prior price objective of $45.00. Bank of America‘s price target points to a potential downside of 18.63% from the company’s previous close.

Several other analysts also recently weighed in on ACCD. Credit Suisse Group downgraded shares of Accolade from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $33.00 to $9.00 in a research report on Friday. The Goldman Sachs Group assumed coverage on shares of Accolade in a research report on Friday, February 11th. They set a “buy” rating and a $32.00 target price on the stock. Guggenheim assumed coverage on shares of Accolade in a research report on Wednesday, April 6th. They set a “neutral” rating on the stock. Wells Fargo & Company initiated coverage on shares of Accolade in a research report on Monday, April 11th. They set an “underweight” rating and a $9.00 target price on the stock. Finally, Stifel Nicolaus dropped their price objective on shares of Accolade from $40.00 to $34.00 in a report on Tuesday, January 11th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $26.29.

NASDAQ:ACCD opened at $11.06 on Friday. Accolade has a one year low of $9.88 and a one year high of $55.47. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.21 and a current ratio of 2.21. The firm has a market cap of $740.56 million, a P/E ratio of -6.39 and a beta of 2.02. The firm has a 50-day simple moving average of $15.49 and a 200-day simple moving average of $23.30.

Accolade (NASDAQ:ACCDGet Rating) last posted its quarterly earnings data on Thursday, April 28th. The company reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.45) by ($0.06). The firm had revenue of $93.76 million for the quarter, compared to the consensus estimate of $91.58 million. Accolade had a negative return on equity of 20.66% and a negative net margin of 33.86%. The company’s revenue was up 58.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.13) EPS. On average, research analysts predict that Accolade will post -1.87 EPS for the current fiscal year.

A number of large investors have recently bought and sold shares of the business. Knights of Columbus Asset Advisors LLC raised its position in Accolade by 0.6% during the third quarter. Knights of Columbus Asset Advisors LLC now owns 52,960 shares of the company’s stock worth $2,233,000 after acquiring an additional 290 shares during the period. Jump Financial LLC raised its position in shares of Accolade by 3.1% in the third quarter. Jump Financial LLC now owns 10,316 shares of the company’s stock valued at $435,000 after buying an additional 308 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of Accolade by 3.8% in the third quarter. State Board of Administration of Florida Retirement System now owns 11,368 shares of the company’s stock valued at $479,000 after buying an additional 420 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of Accolade by 1.5% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 34,825 shares of the company’s stock valued at $918,000 after buying an additional 503 shares during the last quarter. Finally, Legal & General Group Plc raised its position in shares of Accolade by 1.7% in the fourth quarter. Legal & General Group Plc now owns 38,661 shares of the company’s stock valued at $1,019,000 after buying an additional 646 shares during the last quarter. Institutional investors own 72.18% of the company’s stock.

Accolade Company Profile (Get Rating)

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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