Shares of Accolade, Inc. (NASDAQ:ACCD – Get Free Report) gapped down before the market opened on Friday after Morgan Stanley lowered their price target on the stock from $13.00 to $12.00. The stock had previously closed at $9.19, but opened at $7.87. Morgan Stanley currently has an equal weight rating on the stock. Accolade shares last traded at $8.19, with a volume of 200,076 shares.
Several other research firms have also commented on ACCD. Wells Fargo & Company lifted their price target on shares of Accolade from $10.00 to $12.00 and gave the company an “equal weight” rating in a report on Tuesday, January 9th. Needham & Company LLC decreased their price target on shares of Accolade from $17.00 to $13.00 and set a “buy” rating for the company in a report on Friday. Leerink Partnrs reaffirmed an “outperform” rating on shares of Accolade in a report on Monday, February 26th. Barclays reduced their target price on shares of Accolade from $13.00 to $11.00 and set an “equal weight” rating for the company in a research note on Friday. Finally, Truist Financial reduced their target price on shares of Accolade from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Friday. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Accolade currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.80.
Institutional Trading of Accolade
A number of hedge funds and other institutional investors have recently made changes to their positions in ACCD. Allspring Global Investments Holdings LLC bought a new stake in shares of Accolade in the 1st quarter worth approximately $87,000. Los Angeles Capital Management LLC raised its holdings in shares of 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 purchasing an additional 39,330 shares in the last quarter. Fairman Group LLC bought a new stake in shares of Accolade in the 4th quarter worth approximately $14,139,000. PNC Financial Services Group Inc. raised its holdings in shares of 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 purchasing an additional 33,595 shares in the last quarter. Finally, Ieq Capital LLC bought a new stake in shares of Accolade in the 4th quarter worth approximately $13,387,000. 84.99% of the stock is currently owned by institutional investors.
Accolade Price Performance
The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.48. The business’s fifty day moving average is $9.66 and its 200 day moving average is $9.91. The firm has a market capitalization of $610.75 million, a P/E ratio of -4.78 and a beta of 2.08.
Accolade (NASDAQ:ACCD – Get Free Report) last released its earnings results on Thursday, April 25th. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.01. Accolade had a negative net margin of 31.59% and a negative return on equity of 27.27%. The business had revenue of $124.80 million for the quarter, compared to the consensus estimate of $123.91 million. During the same period in the previous year, the firm earned ($0.42) EPS. The business’s revenue for the quarter was up 26.1% on a year-over-year basis. As a group, analysts forecast that Accolade, Inc. will post -1.33 EPS for the current 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 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.