Truist Financial Lowers Accolade (NASDAQ:ACCD) Price Target to $14.00

Accolade (NASDAQ:ACCD) had its target price cut by stock analysts at Truist Financial from $16.00 to $14.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s target price would suggest a potential upside of 77.44% from the company’s previous close.

Several other analysts also recently weighed in on ACCD. Stifel Nicolaus cut their price target on Accolade from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Raymond James upped their price objective on Accolade from $12.00 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday, January 9th. Barclays lowered their price objective on Accolade from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Friday. Canaccord Genuity Group lowered their price objective on Accolade from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Wells Fargo & Company upped their price objective on Accolade from $10.00 to $12.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 9th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $14.80.

Accolade Stock Performance

Accolade stock opened at $7.89 on Friday. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $610.76 million, a P/E ratio of -5.93 and a beta of 2.08. The stock’s 50 day moving average is $9.66 and its 200 day moving average is $9.92. Accolade has a twelve month low of $6.33 and a twelve month high of $17.00.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. BluePath Capital Management LLC purchased a new position in shares of Accolade during the third quarter valued at about $28,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Accolade during the third quarter valued at about $28,000. AJOVista LLC purchased a new position in shares of Accolade during the fourth quarter valued at about $68,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Accolade during the first quarter valued at about $87,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Accolade by 84.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,928 shares of the company’s stock valued at $126,000 after purchasing an additional 5,455 shares in the last quarter. Hedge funds and other institutional investors own 84.99% of the company’s stock.

About Accolade

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.