Accolade (NASDAQ:ACCD) had its price target cut by BTIG Research from $60.00 to $35.00 in a research note published on Tuesday morning, The Fly reports.
A number of other equities research analysts have also commented on the company. Jefferies Financial Group initiated coverage on Accolade in a research report on Wednesday, December 1st. They set a buy rating and a $33.00 price target on the stock. Stifel Nicolaus lowered their target price on Accolade from $40.00 to $34.00 in a report on Tuesday. Robert W. Baird upgraded Accolade from a neutral rating to an outperform rating and decreased their price objective for the company from $58.00 to $54.00 in a report on Friday, September 17th. They noted that the move was a valuation call. Berenberg Bank restated a buy rating and set a $61.00 price objective on shares of Accolade in a research report on Friday, October 8th. Finally, Credit Suisse Group dropped their price target on shares of Accolade from $63.00 to $62.00 and set an outperform rating for the company in a research report on Friday, October 8th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Accolade has an average rating of Buy and a consensus price target of $43.73.
Shares of NASDAQ ACCD opened at $20.21 on Tuesday. Accolade has a 52-week low of $18.72 and a 52-week high of $59.93. The company has a quick ratio of 1.67, a current ratio of 2.21 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of -11.68 and a beta of 1.82. The stock’s fifty day simple moving average is $27.31 and its 200 day simple moving average is $39.09.
Several institutional investors and hedge funds have recently added to or reduced their stakes in ACCD. Advisor Group Holdings Inc. increased its holdings in Accolade by 178.5% during the second quarter. Advisor Group Holdings Inc. now owns 13,573 shares of the company’s stock valued at $737,000 after buying an additional 8,700 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Accolade by 15.9% during the second quarter. Victory Capital Management Inc. now owns 8,950 shares of the company’s stock valued at $486,000 after buying an additional 1,228 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in Accolade during the second quarter valued at approximately $1,467,000. Teacher Retirement System of Texas purchased a new stake in Accolade during the second quarter valued at approximately $222,000. Finally, US Bancorp DE increased its holdings in Accolade by 920.6% during the second quarter. US Bancorp DE now owns 694 shares of the company’s stock valued at $37,000 after buying an additional 626 shares during the last quarter. 72.11% of the stock is owned by hedge funds and other institutional investors.
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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