Morgan Stanley Lowers Accolade (NASDAQ:ACCD) Price Target to $12.00

Accolade (NASDAQ:ACCD) had its price target cut by analysts at Morgan Stanley from $13.00 to $12.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price target points to a potential upside of 52.09% from the company’s previous close.

ACCD has been the topic of several other reports. Raymond James lifted their price objective on Accolade from $12.00 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday, January 9th. Leerink Partnrs reissued an “outperform” rating on shares of Accolade in a research report on Monday, February 26th. Truist Financial dropped their price target on Accolade from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Friday. Piper Sandler boosted their price target on Accolade from $12.00 to $15.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 9th. Finally, Stifel Nicolaus decreased their price objective on shares of Accolade from $15.00 to $13.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $14.80.

Accolade Price Performance

Accolade stock opened at $7.89 on Friday. Accolade has a one year low of $6.33 and a one year high of $17.00. The business has a fifty day moving average price of $9.66 and a 200-day moving average price of $9.92. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.35 and a quick ratio of 2.35. The firm has a market capitalization of $610.76 million, a P/E ratio of -5.93 and a beta of 2.08.

Accolade (NASDAQ:ACCD) last posted its earnings results on Thursday, April 25th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.01. The company had revenue of $124.80 million for the quarter, compared to analysts’ expectations of $123.91 million. Accolade had a negative return on equity of 22.57% and a negative net margin of 24.09%. Accolade’s quarterly revenue was up 26.1% on a year-over-year basis. During the same period last year, the firm earned ($0.42) earnings per share. As a group, equities research analysts forecast that Accolade will post -1.2 EPS for the current year.

Institutional Investors Weigh In On Accolade

A number of hedge funds have recently added to or reduced their stakes in ACCD. Allspring Global Investments Holdings LLC bought a new stake in shares of Accolade during the 1st quarter valued at $87,000. Los Angeles Capital Management LLC boosted its holdings in Accolade by 233.8% in the 1st quarter. Los Angeles Capital Management LLC now owns 56,149 shares of the company’s stock worth $588,000 after buying an additional 39,330 shares during the period. Fairman Group LLC bought a new position in Accolade in the 4th quarter worth $14,139,000. PNC Financial Services Group Inc. boosted its holdings in Accolade by 52,492.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 33,659 shares of the company’s stock worth $404,000 after buying an additional 33,595 shares during the period. Finally, Ieq Capital LLC bought a new position in shares of Accolade during the 4th quarter valued at about $13,387,000. 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.