Shares of Accolade, Inc. (NASDAQ:ACCD – Get Rating) dropped 5.5% during trading on Wednesday after DA Davidson lowered their price target on the stock from $16.00 to $14.00. The company traded as low as $8.94 and last traded at $9.02. Approximately 3,239 shares were traded during mid-day trading, a decline of 100% from the average daily volume of 1,093,438 shares. The stock had previously closed at $9.55.
Other equities analysts also recently issued reports about the company. Needham & Company LLC raised their price target on Accolade from $12.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, October 4th. Piper Sandler lifted their price objective on Accolade from $12.00 to $13.00 and gave the stock an “overweight” rating in a report on Tuesday, October 4th. Canaccord Genuity Group lifted their price objective on Accolade from $12.00 to $15.00 in a report on Monday, October 3rd. Wells Fargo & Company lifted their price objective on Accolade from $8.00 to $10.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 12th. Finally, The Goldman Sachs Group lifted their price objective on Accolade from $14.50 to $16.00 and gave the stock a “buy” rating in a report on Friday, October 7th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $14.60.
Institutional Trading of Accolade
Several institutional investors and hedge funds have recently added to or reduced their stakes in ACCD. Brown Advisory Inc. raised its stake in Accolade by 41.3% during the 2nd quarter. Brown Advisory Inc. now owns 5,813,441 shares of the company’s stock valued at $43,020,000 after purchasing an additional 1,700,239 shares during the period. ARK Investment Management LLC increased its stake in Accolade by 28.8% in the 2nd quarter. ARK Investment Management LLC now owns 6,250,275 shares of the company’s stock worth $40,127,000 after acquiring an additional 1,399,201 shares during the last quarter. Millennium Management LLC increased its stake in Accolade by 65.4% in the 2nd quarter. Millennium Management LLC now owns 2,127,585 shares of the company’s stock worth $15,744,000 after acquiring an additional 840,925 shares during the last quarter. Bellevue Group AG increased its position in shares of Accolade by 24.3% during the 1st quarter. Bellevue Group AG now owns 3,381,507 shares of the company’s stock valued at $59,380,000 after purchasing an additional 660,132 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new position in shares of Accolade during the 3rd quarter valued at approximately $6,372,000. Institutional investors own 79.01% of the company’s stock.
Accolade Trading Down 8.3 %
The stock has a market cap of $630.19 million, a P/E ratio of -1.65 and a beta of 1.36. The company has a current ratio of 3.33, a quick ratio of 3.33 and a debt-to-equity ratio of 0.56. The company has a 50-day moving average price of $8.50 and a two-hundred day moving average price of $10.02.
Accolade (NASDAQ:ACCD – Get Rating) last issued its earnings results on Monday, January 9th. The company reported ($0.56) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($0.13). Accolade had a negative return on equity of 26.12% and a negative net margin of 114.56%. The firm had revenue of $90.95 million during the quarter, compared to analysts’ expectations of $87.53 million. During the same quarter in the prior year, the company posted $0.31 earnings per share. Accolade’s quarterly revenue was up 9.0% compared to the same quarter last year. On average, research analysts expect that Accolade, Inc. will post -6.52 EPS for the current fiscal year.
Accolade Company Profile
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.