Accolade, Inc. (NASDAQ:ACCD) Receives $9.04 Average Price Target from Brokerages

Accolade, Inc. (NASDAQ:ACCD) has received a consensus recommendation of “Moderate Buy” from the fifteen analysts that are currently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $9.04.

Several brokerages recently issued reports on ACCD. Canaccord Genuity Group decreased their price target on shares of Accolade from $13.00 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Barclays lowered their price target on shares of Accolade from $5.50 to $5.00 and set an “equal weight” rating for the company in a report on Wednesday, October 9th. Needham & Company LLC reissued a “buy” rating and set a $8.00 price objective on shares of Accolade in a report on Monday, October 7th. Truist Financial reduced their price objective on Accolade from $9.00 to $7.50 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Finally, Stephens dropped their target price on Accolade from $10.00 to $8.00 and set an “overweight” rating for the company in a research report on Wednesday, October 9th.

Hedge Funds Weigh In On Accolade

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new position in shares of Accolade in the 2nd quarter worth $43,000. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in shares of Accolade in the third quarter valued at $46,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Accolade by 22.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,373 shares of the company’s stock valued at $73,000 after buying an additional 3,789 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Accolade during the first quarter valued at about $87,000. Finally, The Manufacturers Life Insurance Company increased its position in shares of Accolade by 13.3% during the second quarter. The Manufacturers Life Insurance Company now owns 29,160 shares of the company’s stock worth $104,000 after acquiring an additional 3,416 shares in the last quarter. Institutional investors own 84.99% of the company’s stock.

Accolade Stock Up 0.9 %

Shares of ACCD opened at $3.20 on Friday. The firm has a 50 day simple moving average of $3.84 and a two-hundred day simple moving average of $5.05. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.72 and a quick ratio of 2.72. Accolade has a one year low of $3.13 and a one year high of $15.36. The company has a market cap of $257.73 million, a P/E ratio of -3.11 and a beta of 2.02.

Accolade (NASDAQ:ACCD) last posted its quarterly earnings results on Tuesday, October 8th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.14. The company had revenue of $106.40 million during the quarter, compared to analysts’ expectations of $104.87 million. Accolade had a negative return on equity of 18.43% and a negative net margin of 18.16%. Accolade’s revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.43) EPS. Research analysts forecast that Accolade will post -0.92 EPS for the current fiscal year.

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 intelligent technology and multimodal support from a team of advocates and clinicians, including registered nurses, physician medical directors, pharmacists, behavioral health specialists, women’s health specialists, case management specialists, expert medical opinion providers, and primary care physicians.