Morgan Stanley Raises Accolade (NASDAQ:ACCD) Price Target to $60.00

Accolade (NASDAQ:ACCD) had its price objective lifted by investment analysts at Morgan Stanley from $57.00 to $60.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price target would suggest a potential upside of 28.48% from the stock’s previous close.

A number of other brokerages also recently commented on ACCD. BTIG Research raised their target price on shares of Accolade from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, January 15th. The Goldman Sachs Group initiated coverage on shares of Accolade in a research note on Thursday, March 11th. They set a “buy” rating on the stock. Zacks Investment Research raised shares of Accolade from a “sell” rating to a “hold” rating in a research note on Monday, March 29th. Robert W. Baird lifted their price target on shares of Accolade from $50.00 to $55.00 and gave the stock an “outperform” rating in a research note on Friday, January 15th. Finally, Piper Sandler lifted their price target on shares of Accolade from $57.00 to $60.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 16th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $53.92.

Shares of ACCD stock opened at $46.70 on Tuesday. The company’s fifty day simple moving average is $44.66 and its 200-day simple moving average is $46.34. Accolade has a 52 week low of $28.68 and a 52 week high of $65.25.

In other Accolade news, Director Thomas J. Neff sold 161,522 shares of the firm’s stock in a transaction on Wednesday, January 20th. The shares were sold at an average price of $55.67, for a total transaction of $8,991,929.74. Following the completion of the transaction, the director now directly owns 14,082 shares of the company’s stock, valued at approximately $783,944.94. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

A number of hedge funds have recently made changes to their positions in the business. First Bank & Trust acquired a new position in Accolade during the 1st quarter worth $26,000. American International Group Inc. boosted its holdings in shares of Accolade by 9.6% in the 4th quarter. American International Group Inc. now owns 7,629 shares of the company’s stock valued at $332,000 after buying an additional 670 shares during the period. Lazard Asset Management LLC acquired a new position in shares of Accolade in the 4th quarter valued at about $52,000. New York State Common Retirement Fund boosted its holdings in shares of Accolade by 18.9% in the 4th quarter. New York State Common Retirement Fund now owns 12,600 shares of the company’s stock valued at $548,000 after buying an additional 2,000 shares during the period. Finally, AE Wealth Management LLC boosted its holdings in shares of Accolade by 27.7% in the 4th quarter. AE Wealth Management LLC now owns 10,345 shares of the company’s stock valued at $450,000 after buying an additional 2,241 shares during the period. 34.74% of the stock is owned by institutional investors.

About Accolade

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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Analyst Recommendations for Accolade (NASDAQ:ACCD)

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