Accolade (NASDAQ:ACCD) Price Target Cut to $14.00 by Analysts at Truist Financial

Accolade (NASDAQ:ACCD) had its target price lowered by stock analysts at Truist Financial from $16.00 to $14.00 in a report released on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price target suggests a potential upside of 77.44% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. Wells Fargo & Company upped their price target on shares of Accolade from $10.00 to $12.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 9th. Raymond James upped their price target on shares of Accolade from $12.00 to $16.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 9th. Piper Sandler upped their price target on shares of Accolade from $12.00 to $15.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 9th. Stifel Nicolaus lowered their price target on shares of Accolade from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Finally, Barclays lowered their price target on shares of Accolade from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Friday. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $14.80.

Accolade Stock Performance

Shares of ACCD opened at $7.89 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.35 and a current ratio of 2.35. The stock has a market capitalization of $610.76 million, a P/E ratio of -5.93 and a beta of 2.08. The company’s fifty day moving average is $9.66 and its two-hundred day moving average is $9.92. Accolade has a 1 year low of $6.33 and a 1 year high of $17.00.

Accolade (NASDAQ:ACCD) last announced its quarterly earnings data on Thursday, April 25th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.01. Accolade had a negative net margin of 24.09% and a negative return on equity of 22.57%. The company had revenue of $124.80 million for the quarter, compared to analysts’ expectations of $123.91 million. During the same period in the previous year, the company posted ($0.42) EPS. Accolade’s revenue was up 26.1% compared to the same quarter last year. On average, sell-side analysts predict that Accolade will post -1.2 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BluePath Capital Management LLC purchased a new position in Accolade in the 3rd quarter valued at about $28,000. DekaBank Deutsche Girozentrale purchased a new position in Accolade in the 3rd quarter valued at about $28,000. AJOVista LLC purchased a new position in Accolade in the 4th quarter valued at about $68,000. Allspring Global Investments Holdings LLC purchased a new position in Accolade in the 1st quarter valued at about $87,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Accolade by 84.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,928 shares of the company’s stock valued at $126,000 after purchasing an additional 5,455 shares in the last quarter. 84.99% of the stock is currently owned by hedge funds and other 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 technology and multimodal support from a team of health assistants and clinicians, including registered nurses, physician medical directors, pharmacists, behavioral health specialists, women's health specialists, case management specialists, expert medical opinion providers, and virtual primary care physicians.