BTIG Research Cuts Accolade (NASDAQ:ACCD) Price Target to $35.00

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.

Accolade (NASDAQ:ACCD) last posted its quarterly earnings data on Monday, January 10th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of ($0.68) by $0.99. Accolade had a negative return on equity of 20.66% and a negative net margin of 33.86%. The business had revenue of $83.45 million during the quarter, compared to analysts’ expectations of $75.89 million. During the same quarter in the previous year, the firm earned ($0.32) EPS. The firm’s revenue was up 117.1% compared to the same quarter last year. As a group, analysts anticipate that Accolade will post -2.66 earnings per share for the current year.

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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