Accolade (NASDAQ:ACCD) Price Target Cut to $13.00 by Analysts at Guggenheim

Accolade (NASDAQ:ACCD) had its price target decreased by investment analysts at Guggenheim from $17.00 to $13.00 in a report released on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Guggenheim’s price objective indicates a potential upside of 78.33% from the stock’s previous close.

A number of other brokerages have also commented on ACCD. SVB Leerink started coverage on Accolade in a report on Monday, February 26th. They set an “outperform” rating and a $16.00 price target on the stock. Raymond James increased their price target on shares of Accolade from $12.00 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday, January 9th. Piper Sandler lifted their price objective on shares of Accolade from $12.00 to $15.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 9th. Truist Financial dropped their target price on shares of Accolade from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Friday, April 26th. Finally, William Blair restated an “outperform” rating on shares of Accolade in a research note on Tuesday, January 9th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Accolade presently has a consensus rating of “Moderate Buy” and an average target price of $14.14.

Accolade Stock Performance

Shares of ACCD stock opened at $7.29 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.64 and a quick ratio of 2.64. The firm has a 50-day moving average of $9.04 and a 200-day moving average of $9.92. Accolade has a one year low of $6.33 and a one year high of $15.36. The company has a market cap of $571.24 million, a P/E ratio of -5.48 and a beta of 2.15.

Accolade (NASDAQ:ACCD) last issued its quarterly earnings data on Thursday, April 25th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.01. Accolade had a negative net margin of 24.09% and a negative return on equity of 22.53%. The business had revenue of $124.80 million during the quarter, compared to the consensus estimate of $123.91 million. During the same period in the prior year, the firm posted ($0.42) EPS. The firm’s quarterly revenue was up 26.1% compared to the same quarter last year. Equities research analysts forecast that Accolade will post -1.24 EPS for the current fiscal year.

Institutional Trading of Accolade

A number of institutional investors have recently added to or reduced their stakes in ACCD. Nordea Investment Management AB boosted its holdings in Accolade by 1.4% in the 3rd quarter. Nordea Investment Management AB now owns 106,764 shares of the company’s stock valued at $1,148,000 after purchasing an additional 1,423 shares during the period. HighTower Advisors LLC bought a new stake in Accolade during the third quarter valued at $2,354,000. Vanguard Group Inc. grew its position in Accolade by 3.1% during the third quarter. Vanguard Group Inc. now owns 5,283,858 shares of the company’s stock worth $55,903,000 after buying an additional 157,464 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Accolade by 111.1% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,798,993 shares of the company’s stock worth $19,033,000 after acquiring an additional 946,970 shares during the last quarter. Finally, Olympiad Research LP purchased a new stake in shares of Accolade in the 3rd quarter valued at about $171,000. Hedge funds and other institutional investors own 84.99% of the company’s stock.

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.