Accolade (NASDAQ:ACCD) Releases Earnings Results, Misses Estimates By $0.44 EPS

Accolade (NASDAQ:ACCD) issued its earnings results on Wednesday. The company reported ($0.97) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.53) by ($0.44), MarketWatch Earnings reports. Accolade had a negative return on equity of 18.32% and a negative net margin of 44.02%. The company had revenue of $73.29 million during the quarter, compared to analyst estimates of $70.37 million. During the same period in the previous year, the company posted ($0.47) earnings per share. The company’s quarterly revenue was up 99.2% on a year-over-year basis.

Shares of ACCD opened at $39.93 on Friday. The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of -21.47 and a beta of 1.76. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.71 and a current ratio of 2.71. The business’s fifty day moving average price is $45.03 and its two-hundred day moving average price is $47.28. Accolade has a 52 week low of $32.87 and a 52 week high of $65.25.

An institutional investor recently raised its position in Accolade stock. Morgan Stanley raised its position in Accolade, Inc. (NASDAQ:ACCD) by 91.0% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 613,564 shares of the company’s stock after buying an additional 292,317 shares during the period. Morgan Stanley owned about 0.93% of Accolade worth $33,323,000 as of its most recent filing with the SEC. 67.98% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts have recently issued reports on the company. Piper Sandler reissued an “overweight” rating and issued a $45.00 target price (down from $60.00) on shares of Accolade in a report on Friday. Needham & Company LLC decreased their price target on Accolade from $68.00 to $56.00 and set a “buy” rating on the stock in a research report on Friday. Canaccord Genuity decreased their price target on Accolade from $62.00 to $52.00 and set a “buy” rating on the stock in a research report on Friday. Robert W. Baird upgraded Accolade from a “neutral” rating to an “outperform” rating and decreased their price target for the stock from $58.00 to $54.00 in a research report on Friday, September 17th. They noted that the move was a valuation call. Finally, SVB Leerink decreased their price target on Accolade from $58.00 to $52.00 and set an “outperform” rating on the stock in a research report on Friday. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $56.08.

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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Earnings History for Accolade (NASDAQ:ACCD)

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