Accolade (NASDAQ:ACCD) Releases Quarterly Earnings Results, Beats Expectations By $0.99 EPS

Accolade (NASDAQ:ACCD) posted its quarterly earnings data on Sunday. The company reported $0.31 EPS for the quarter, topping the consensus estimate of ($0.68) by $0.99, MarketWatch Earnings reports. The firm had revenue of $83.45 million during the quarter, compared to analyst estimates of $75.89 million. Accolade had a negative return on equity of 18.95% and a negative net margin of 57.44%. Accolade’s revenue was up 117.1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.32) EPS.

Shares of NASDAQ:ACCD traded up $5.25 during trading on Tuesday, reaching $24.39. The company’s stock had a trading volume of 359,776 shares, compared to its average volume of 1,005,030. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.38. Accolade has a 12 month low of $18.72 and a 12 month high of $59.93. The firm’s 50 day simple moving average is $28.80 and its two-hundred day simple moving average is $39.78. The stock has a market capitalization of $1.63 billion, a PE ratio of -10.14 and a beta of 1.82.

Several large investors have recently made changes to their positions in the stock. Morgan Stanley lifted its stake in Accolade by 91.0% in the second quarter. Morgan Stanley now owns 613,564 shares of the company’s stock worth $33,323,000 after purchasing an additional 292,317 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Accolade by 42.1% in the third quarter. Bank of New York Mellon Corp now owns 212,210 shares of the company’s stock worth $8,950,000 after purchasing an additional 62,889 shares during the last quarter. UBS Group AG lifted its stake in Accolade by 7.1% in the third quarter. UBS Group AG now owns 29,950 shares of the company’s stock worth $1,263,000 after purchasing an additional 1,994 shares during the last quarter. Invesco Ltd. lifted its stake in Accolade by 25.5% in the third quarter. Invesco Ltd. now owns 21,314 shares of the company’s stock worth $899,000 after purchasing an additional 4,327 shares during the last quarter. Finally, Royal Bank of Canada lifted its stake in Accolade by 45.5% in the third quarter. Royal Bank of Canada now owns 6,484 shares of the company’s stock worth $273,000 after purchasing an additional 2,029 shares during the last quarter. 67.78% of the stock is owned by hedge funds and other institutional investors.

ACCD has been the subject of several analyst reports. Zacks Investment Research lowered Accolade from a “hold” rating to a “sell” rating in a research note on Thursday, January 6th. Morgan Stanley cut their price target on Accolade from $31.00 to $30.00 and set an “overweight” rating for the company in a research note on Tuesday. Piper Sandler cut their price target on Accolade from $45.00 to $35.00 in a research note on Tuesday. Stifel Nicolaus cut their price target on Accolade from $40.00 to $34.00 in a research note on Tuesday. Finally, SVB Leerink cut their price target on Accolade from $58.00 to $52.00 and set an “outperform” rating for the company in a research note on Friday, October 8th. One analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Accolade presently has an average rating of “Buy” and an average price target of $43.73.

About Accolade

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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