Accolade (NASDAQ:ACCD) PT Lowered to $13.00

Accolade (NASDAQ:ACCD) had its price target dropped by analysts at Needham & Company LLC from $17.00 to $13.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price target points to a potential upside of 64.77% from the stock’s current price.

Several other research analysts have also weighed in on ACCD. Barclays decreased their price objective on shares of Accolade from $13.00 to $11.00 and set an “equal weight” rating for the company in a report on Friday. Stifel Nicolaus decreased their price objective on shares of Accolade from $15.00 to $13.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Wells Fargo & Company raised their price objective on shares of Accolade from $10.00 to $12.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 9th. Truist Financial raised their price objective on shares of Accolade from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, January 9th. Finally, SVB Leerink began coverage on shares of Accolade in a report on Monday, February 26th. They set an “outperform” rating and a $16.00 price objective for the company. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $14.80.

Accolade Stock Performance

Accolade stock opened at $7.89 on Friday. Accolade has a 12-month low of $6.33 and a 12-month high of $17.00. The company has a market capitalization of $610.76 million, a price-to-earnings ratio of -5.93 and a beta of 2.08. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.35 and a quick ratio of 2.35. The firm’s fifty day moving average price is $9.66 and its 200 day moving average price is $9.92.

Accolade (NASDAQ:ACCD) last released its quarterly earnings results on Thursday, April 25th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.01. Accolade had a negative net margin of 24.09% and a negative return on equity of 22.57%. The firm had revenue of $124.80 million for the quarter, compared to the consensus estimate of $123.91 million. During the same quarter in the previous year, the firm posted ($0.42) EPS. The firm’s quarterly revenue was up 26.1% on a year-over-year basis. On average, research analysts forecast that Accolade will post -1.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ACCD. ARK Investment Management LLC lifted its position in Accolade by 12.6% in the 4th quarter. ARK Investment Management LLC now owns 6,805,208 shares of the company’s stock valued at $81,731,000 after purchasing an additional 762,685 shares during the last quarter. Vanguard Group Inc. lifted its position in Accolade by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 5,283,858 shares of the company’s stock valued at $55,903,000 after purchasing an additional 157,464 shares during the last quarter. Rock Springs Capital Management LP lifted its position in Accolade by 3.3% in the 3rd quarter. Rock Springs Capital Management LP now owns 2,913,000 shares of the company’s stock valued at $30,820,000 after purchasing an additional 93,000 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Accolade by 2.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,921,676 shares of the company’s stock valued at $23,083,000 after purchasing an additional 50,311 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its position in Accolade by 111.1% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,798,993 shares of the company’s stock valued at $19,033,000 after purchasing an additional 946,970 shares during the last quarter. 84.99% of the stock is owned by institutional investors and hedge funds.

Accolade Company Profile

Accolade, Inc, together with its subsidiaries, engages in the development and provision of personalized and 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 registered nurses, physician medical directors, pharmacists, behavioral health specialists, women's health specialists, case management specialists, expert medical opinion providers, and virtual primary care physicians.