Accolade, Inc. (NASDAQ:ACCD) Given Average Rating of “Moderate Buy” by Analysts

Accolade, Inc. (NASDAQ:ACCD) has earned an average rating of “Moderate Buy” from the fourteen analysts that are covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $8.96.

ACCD has been the subject of several analyst reports. Truist Financial decreased their price objective on shares of Accolade from $9.00 to $7.50 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Wells Fargo & Company dropped their price objective on Accolade from $7.00 to $6.00 and set an “equal weight” rating for the company in a report on Friday, October 11th. Stephens reduced their target price on Accolade from $10.00 to $8.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. Canaccord Genuity Group lowered their target price on shares of Accolade from $13.00 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $8.00 price target on shares of Accolade in a research note on Monday, October 7th.

Accolade Stock Performance

NASDAQ ACCD opened at $3.48 on Friday. The business’s 50 day moving average price is $3.51 and its 200-day moving average price is $4.08. Accolade has a fifty-two week low of $3.08 and a fifty-two week high of $15.36. The company has a market cap of $280.27 million, a P/E ratio of -3.38 and a beta of 2.07. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.72 and a current ratio of 2.72.

Accolade (NASDAQ:ACCD) last posted its quarterly earnings data on Tuesday, October 8th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.14. The business had revenue of $106.40 million for the quarter, compared to analysts’ expectations of $104.87 million. Accolade had a negative net margin of 18.16% and a negative return on equity of 18.43%. The business’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.43) earnings per share. Sell-side analysts predict that Accolade will post -0.92 earnings per share for the current year.

Insider Activity

In other Accolade news, CEO Rajeev Singh sold 13,357 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $3.60, for a total transaction of $48,085.20. Following the completion of the sale, the chief executive officer now directly owns 814,316 shares of the company’s stock, valued at approximately $2,931,537.60. This represents a 1.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders have sold 42,095 shares of company stock worth $150,475. 8.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Mission Creek Capital Partners Inc. acquired a new position in Accolade during the 3rd quarter valued at about $38,000. SG Americas Securities LLC purchased a new stake in shares of Accolade during the second quarter worth about $43,000. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in shares of Accolade during the third quarter valued at about $46,000. Wolverine Trading LLC purchased a new position in shares of Accolade in the 3rd quarter valued at approximately $51,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Accolade by 22.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,373 shares of the company’s stock worth $73,000 after purchasing an additional 3,789 shares in the last quarter. Institutional investors own 84.99% of the company’s stock.

About Accolade

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.