Accolade (NASDAQ:ACCD) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Accolade (NASDAQ:ACCDGet Rating) from a hold rating to a sell rating in a research report sent to investors on Tuesday, Zacks.com reports.

According to Zacks, “Accolade Inc. provides personalized, technology-enabled solutions which help people better understand, navigate and utilize the healthcare system. Accolade Inc. is based in SEATTLE. “

ACCD has been the topic of a number of other research reports. SVB Leerink lowered shares of Accolade from an outperform rating to a market perform rating and decreased their target price for the stock from $32.00 to $8.00 in a research report on Friday, April 29th. Wells Fargo & Company raised shares of Accolade from an underweight rating to an equal weight rating and set a $6.00 price target on the stock in a research note on Monday. Piper Sandler cut their price target on shares of Accolade from $22.00 to $11.00 in a research note on Friday, April 29th. Guggenheim started coverage on shares of Accolade in a research note on Wednesday, April 6th. They set a neutral rating on the stock. Finally, The Goldman Sachs Group started coverage on shares of Accolade in a research note on Friday, February 11th. They set a buy rating and a $32.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Hold and an average price target of $24.27.

Shares of NASDAQ ACCD opened at $6.01 on Tuesday. Accolade has a 1 year low of $4.61 and a 1 year high of $55.47. The firm’s 50 day moving average price is $14.82 and its 200 day moving average price is $22.50. The firm has a market cap of $402.42 million, a P/E ratio of -2.99 and a beta of 3.01. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.21 and a current ratio of 2.21.

Accolade (NASDAQ:ACCDGet Rating) last announced its earnings results on Thursday, April 28th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.45) by ($0.06). Accolade had a negative return on equity of 24.32% and a negative net margin of 39.72%. The firm had revenue of $93.76 million for the quarter, compared to analyst estimates of $91.58 million. During the same quarter last year, the business posted ($0.13) EPS. The firm’s revenue was up 58.3% compared to the same quarter last year. As a group, equities analysts predict that Accolade will post -2.01 EPS for the current year.

Hedge funds have recently modified their holdings of the company. Geode Capital Management LLC grew its holdings in Accolade by 59.3% during the 3rd quarter. Geode Capital Management LLC now owns 908,219 shares of the company’s stock valued at $38,299,000 after purchasing an additional 337,914 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Accolade by 4.6% during the 3rd quarter. Principal Financial Group Inc. now owns 391,712 shares of the company’s stock valued at $16,518,000 after purchasing an additional 17,151 shares in the last quarter. First Horizon Advisors Inc. acquired a new stake in Accolade during the 3rd quarter valued at $28,000. Tudor Investment Corp Et Al grew its holdings in Accolade by 10.4% during the 3rd quarter. Tudor Investment Corp Et Al now owns 76,118 shares of the company’s stock valued at $3,210,000 after purchasing an additional 7,184 shares in the last quarter. Finally, BlackRock Inc. grew its holdings in Accolade by 22.1% during the 3rd quarter. BlackRock Inc. now owns 3,290,748 shares of the company’s stock valued at $138,770,000 after purchasing an additional 595,012 shares in the last quarter. 81.43% of the stock is currently owned by institutional investors and hedge funds.

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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