Accolade (NASDAQ:ACCD) PT Lowered to $10.00

Accolade (NASDAQ:ACCD) had its target price reduced by investment analysts at Wells Fargo & Company from $12.00 to $10.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 35.87% from the company’s current price.

A number of other brokerages have also recently weighed in on ACCD. Truist Financial dropped their price objective on Accolade from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, April 26th. Raymond James lifted their price target on Accolade from $12.00 to $16.00 and gave the stock an “outperform” rating in a report on Tuesday, January 9th. Stifel Nicolaus decreased their price target on Accolade from $15.00 to $13.00 and set a “buy” rating for the company in a report on Monday, April 22nd. William Blair reissued an “outperform” rating on shares of Accolade in a report on Tuesday, January 9th. Finally, Leerink Partnrs reissued an “outperform” rating on shares of Accolade in a report on Monday, February 26th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Accolade has an average rating of “Moderate Buy” and a consensus price target of $14.57.

Accolade Stock Performance

Shares of Accolade stock opened at $7.36 on Tuesday. Accolade has a one year low of $6.33 and a one year high of $15.36. The company has a market cap of $576.73 million, a price-to-earnings ratio of -5.53 and a beta of 2.08. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.35 and a current ratio of 2.64. The business’s 50 day moving average price is $9.42 and its 200 day moving average price is $9.93.

Accolade (NASDAQ:ACCD) last posted its 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. The company had revenue of $124.80 million during the quarter, compared to analysts’ expectations of $123.91 million. Accolade had a negative return on equity of 22.53% 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 last year, the firm earned ($0.42) earnings per share. On average, research analysts predict that Accolade will post -1.15 EPS for the current year.

Hedge Funds Weigh In On Accolade

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Nordea Investment Management AB grew its holdings in shares of Accolade by 1.4% in the 3rd quarter. Nordea Investment Management AB now owns 106,764 shares of the company’s stock worth $1,148,000 after acquiring an additional 1,423 shares during the period. Handelsbanken Fonder AB increased its position in shares of Accolade by 14.8% during the third quarter. Handelsbanken Fonder AB now owns 16,765 shares of the company’s stock worth $177,000 after acquiring an additional 2,165 shares during the last quarter. BluePath Capital Management LLC purchased a new stake in shares of Accolade during the third quarter worth about $28,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Accolade during the third quarter worth about $28,000. Finally, Barclays PLC grew its stake in Accolade by 10.8% in the third quarter. Barclays PLC now owns 37,630 shares of the company’s stock worth $398,000 after purchasing an additional 3,671 shares in the last quarter. Institutional investors and hedge funds 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.