Accolade (NASDAQ:ACCD) Releases Earnings Results, Beats Estimates By $0.03 EPS

Accolade (NASDAQ:ACCD) announced its quarterly earnings data on Wednesday. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.35) by $0.03, MarketWatch Earnings reports. The company had revenue of $38.44 million for the quarter, compared to the consensus estimate of $36.20 million. The firm’s quarterly revenue was up 29.7% compared to the same quarter last year.

ACCD traded up $2.63 on Friday, hitting $49.55. The company had a trading volume of 137,732 shares, compared to its average volume of 455,400. Accolade has a 52-week low of $28.68 and a 52-week high of $65.25. The business has a fifty day simple moving average of $50.39.

ACCD has been the topic of a number of recent research reports. Piper Sandler raised their price objective on Accolade from $55.00 to $57.00 and gave the company an “overweight” rating in a research note on Friday. BTIG Research began coverage on Accolade in a research note on Wednesday. They issued a “buy” rating and a $55.00 target price on the stock. Bank of America raised their target price on Accolade from $45.00 to $51.00 and gave the stock a “buy” rating in a research note on Thursday, October 15th. Canaccord Genuity began coverage on Accolade in a research note on Tuesday, December 8th. They issued a “buy” rating and a $59.00 target price on the stock. Finally, Robert W. Baird raised their target price on Accolade from $45.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $50.08.

Accolade Company Profile

Accolade, Inc develops and provides technology-enabled solutions that help people 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 with multimodal support from a team of health assistants and clinicians, including nurses, physician medical directors, and behavioral health specialists.

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