Accolade (ACCD) Scheduled to Post Quarterly Earnings on Thursday

Accolade (NASDAQ:ACCD – Get Rating) will be issuing its quarterly earnings data after the market closes on Thursday, June 30th. Analysts expect the company to announce earnings of ($0.73) per share for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

Accolade (NASDAQ:ACCD – Get Rating) last issued its quarterly earnings data on Thursday, April 28th. The company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.45) by ($0.14). Accolade had a negative return on equity of 22.57% and a negative net margin of 39.72%. The firm had revenue of $93.76 million during the quarter, compared to the consensus estimate of $91.58 million. During the same period in the previous year, the firm earned ($0.13) EPS. The business’s revenue was up 58.3% on a year-over-year basis. On average, analysts expect Accolade to post $-2 EPS for the current fiscal year and $-2 EPS for the next fiscal year.

Shares of ACCD opened at $6.61 on Thursday. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.66 and a quick ratio of 3.66. Accolade has a one year low of $4.61 and a one year high of $55.47. The firm has a market capitalization of $444.82 million, a P/E ratio of -3.29 and a beta of 2.95. The business has a fifty day moving average of $7.50 and a 200 day moving average of $15.41.

ACCD has been the subject of several recent research reports. Canaccord Genuity Group cut their price target on Accolade from $34.00 to $17.00 in a report on Friday, April 29th. SVB Leerink lowered Accolade from an “outperform” rating to a “market perform” rating and cut their price target for the company from $32.00 to $8.00 in a report on Friday, April 29th. Piper Sandler cut their price target on Accolade from $22.00 to $11.00 in a report on Friday, April 29th. Berenberg Bank reissued a “buy” rating and set a $11.00 price target on shares of Accolade in a report on Friday, June 17th. Finally, Needham & Company LLC cut their price target on Accolade from $33.00 to $12.00 in a report on Friday, April 29th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $19.80.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quantamental Technologies LLC purchased a new stake in shares of Accolade in the first quarter worth about $178,000. State Street Corp lifted its position in shares of Accolade by 11.0% in the first quarter. State Street Corp now owns 1,138,870 shares of the company’s stock worth $19,999,000 after buying an additional 112,898 shares in the last quarter. Engineers Gate Manager LP lifted its position in shares of Accolade by 128.8% in the first quarter. Engineers Gate Manager LP now owns 62,851 shares of the company’s stock worth $1,104,000 after buying an additional 35,380 shares in the last quarter. Invesco Ltd. lifted its position in shares of Accolade by 92.0% in the first quarter. Invesco Ltd. now owns 39,037 shares of the company’s stock worth $685,000 after buying an additional 18,710 shares in the last quarter. Finally, Bellevue Group AG lifted its position in shares of Accolade by 24.3% in the first quarter. Bellevue Group AG now owns 3,381,507 shares of the company’s stock worth $59,380,000 after buying an additional 660,132 shares in the last quarter. 81.43% of the stock is owned by hedge funds and other institutional investors.

About Accolade (Get Rating)

Accolade, Inc, together with its subsidiaries, 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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