Stifel Nicolaus Trims Accolade (NASDAQ:ACCD) Target Price to $8.00

Accolade (NASDAQ:ACCD) had its target price decreased by analysts at Stifel Nicolaus from $13.00 to $8.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price target suggests a potential upside of 117.98% from the company’s previous close.

Several other equities research analysts have also recently issued reports on ACCD. Wells Fargo & Company reduced their target price on Accolade from $12.00 to $10.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 30th. Truist Financial reduced their target price on Accolade from $14.00 to $9.00 and set a “buy” rating on the stock in a report on Friday. Barclays reduced their target price on Accolade from $11.00 to $5.50 and set an “equal weight” rating on the stock in a report on Friday. Morgan Stanley reduced their price objective on Accolade from $12.00 to $6.00 and set an “equal weight” rating on the stock in a research note on Friday. Finally, Canaccord Genuity Group reduced their price objective on Accolade from $16.00 to $13.00 and set a “buy” rating on the stock in a research note on Friday. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Accolade presently has an average rating of “Moderate Buy” and a consensus target price of $11.89.

Accolade Price Performance

NASDAQ:ACCD traded down $2.72 on Friday, reaching $3.67. 8,014,033 shares of the company’s stock traded hands, compared to its average volume of 796,253. The company has a quick ratio of 2.64, a current ratio of 2.64 and a debt-to-equity ratio of 0.47. The stock has a 50-day simple moving average of $7.20 and a 200-day simple moving average of $9.70. The firm has a market cap of $293.64 million, a PE ratio of -2.76 and a beta of 2.10. Accolade has a 12 month low of $3.60 and a 12 month high of $15.36.

Accolade (NASDAQ:ACCD) last posted its quarterly earnings results on Thursday, June 27th. The company reported ($0.35) EPS for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.13. Accolade had a negative return on equity of 22.53% and a negative net margin of 24.09%. The business had revenue of $110.50 million for the quarter, compared to analysts’ expectations of $105.22 million. During the same period last year, the firm earned ($0.52) earnings per share. The business’s quarterly revenue was up 18.6% on a year-over-year basis. Equities research analysts forecast that Accolade will post -1.23 earnings per share for the current year.

Insider Transactions at Accolade

In related news, CAO Colin Mchugh sold 5,543 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $6.62, for a total value of $36,694.66. Following the completion of the transaction, the chief accounting officer now owns 50,177 shares in the company, valued at approximately $332,171.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 14,746 shares of company stock valued at $104,586 in the last quarter. 8.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Accolade

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its stake in shares of Accolade by 8.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 521,423 shares of the company’s stock valued at $5,517,000 after buying an additional 41,043 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Accolade during the 3rd quarter valued at about $516,000. Rock Springs Capital Management LP raised its stake in shares of Accolade by 3.3% during 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 buying an additional 93,000 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Accolade by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 5,283,858 shares of the company’s stock valued at $55,903,000 after buying an additional 157,464 shares during the last quarter. Finally, ARK Investment Management LLC raised its stake in shares of Accolade by 12.6% during the 4th quarter. ARK Investment Management LLC now owns 6,805,208 shares of the company’s stock valued at $81,731,000 after buying an additional 762,685 shares during the last quarter. Hedge funds and other institutional investors own 84.99% of the company’s stock.

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.