Accolade (NASDAQ:ACCD) Price Target Cut to $34.00 by Analysts at Stifel Nicolaus

Accolade (NASDAQ:ACCD) had its price target lowered by Stifel Nicolaus from $40.00 to $34.00 in a research report sent to investors on Tuesday morning, The Fly reports.

ACCD has been the topic of several other reports. Berenberg Bank restated a buy rating and set a $61.00 price objective on shares of Accolade in a research note on Friday, October 8th. Needham & Company LLC reduced their price objective on Accolade from $56.00 to $33.00 and set a buy rating on the stock in a research note on Tuesday. Piper Sandler reduced their price objective on Accolade from $45.00 to $35.00 in a research note on Tuesday. Zacks Investment Research cut Accolade from a hold rating to a sell rating in a research note on Thursday, January 6th. Finally, SVB Leerink reduced their price objective on Accolade from $58.00 to $52.00 and set an outperform rating on the stock in a research note on Friday, October 8th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Accolade currently has an average rating of Buy and a consensus target price of $43.73.

Accolade stock opened at $20.21 on Tuesday. The stock has a market cap of $1.35 billion, a P/E ratio of -11.68 and a beta of 1.82. The company has a current ratio of 2.21, a quick ratio of 1.67 and a debt-to-equity ratio of 0.36. The stock has a 50 day moving average of $27.31 and a 200-day moving average of $39.09. Accolade has a 52 week low of $18.72 and a 52 week high of $59.93.

Accolade (NASDAQ:ACCD) last released its earnings results on Monday, January 10th. The company reported $0.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.68) by $0.99. The company had revenue of $83.45 million during the quarter, compared to analysts’ expectations of $75.89 million. Accolade had a negative return on equity of 20.66% and a negative net margin of 33.86%. The business’s revenue was up 117.1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.32) EPS. As a group, equities analysts predict that Accolade will post -2.66 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the company. Nisa Investment Advisors LLC acquired a new position in shares of Accolade during the second quarter valued at $28,000. First Horizon Advisors Inc. acquired a new position in Accolade during the third quarter worth about $28,000. US Bancorp DE grew its holdings in Accolade by 920.6% during the second quarter. US Bancorp DE now owns 694 shares of the company’s stock worth $37,000 after acquiring an additional 626 shares during the period. Strs Ohio acquired a new position in Accolade during the third quarter worth about $63,000. Finally, Great West Life Assurance Co. Can grew its holdings in Accolade by 91.6% during the second quarter. Great West Life Assurance Co. Can now owns 1,767 shares of the company’s stock worth $96,000 after acquiring an additional 845 shares during the period. 72.11% of the stock is currently owned by institutional investors.

Accolade Company Profile

Accolade, Inc 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.

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