Accolade’s (ACCD) Hold Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group reaffirmed their hold rating on shares of Accolade (NASDAQ:ACCD) in a research report report published on Wednesday,Benzinga reports.

A number of other research firms also recently issued reports on ACCD. Morgan Stanley lowered their target price on shares of Accolade from $6.00 to $5.00 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Truist Financial lowered 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. Leerink Partners reaffirmed a “market perform” rating on shares of Accolade in a research report on Wednesday. Stephens reduced their target price on Accolade from $10.00 to $8.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. Finally, Wells Fargo & Company dropped their price target on Accolade from $7.00 to $6.00 and set an “equal weight” rating for the company in a research note on Friday, October 11th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Accolade presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.96.

Accolade Price Performance

Shares of NASDAQ:ACCD opened at $6.86 on Wednesday. The company has a market cap of $552.48 million, a P/E ratio of -6.66 and a beta of 2.08. The business has a fifty day simple moving average of $3.59 and a 200-day simple moving average of $3.81. Accolade has a 52 week low of $3.08 and a 52 week high of $15.36. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 0.49.

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

Insider Buying and Selling at Accolade

In other Accolade news, CEO Rajeev Singh sold 13,357 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $3.60, for a total value of $48,085.20. Following the transaction, the chief executive officer now owns 814,316 shares in the company, valued at $2,931,537.60. The trade was a 1.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold 42,006 shares of company stock valued at $149,228 over the last 90 days. 8.20% of the stock is owned by corporate insiders.

Institutional Trading of Accolade

Hedge funds and other institutional investors have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Accolade by 22.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,373 shares of the company’s stock worth $73,000 after buying an additional 3,789 shares during the last quarter. Rhumbline Advisers grew its holdings in Accolade by 22.5% during the 2nd quarter. Rhumbline Advisers now owns 124,351 shares of the company’s stock worth $445,000 after acquiring an additional 22,857 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of Accolade in the 2nd quarter worth about $1,229,000. Blair William & Co. IL raised its stake in shares of Accolade by 73.1% in the 2nd quarter. Blair William & Co. IL now owns 79,834 shares of the company’s stock valued at $286,000 after purchasing an additional 33,725 shares in the last quarter. Finally, XTX Topco Ltd lifted its position in shares of Accolade by 64.4% during the second quarter. XTX Topco Ltd now owns 49,454 shares of the company’s stock worth $177,000 after purchasing an additional 19,369 shares during the last quarter. 84.99% of the stock is owned by hedge funds and other institutional investors.

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.