Accolade (NASDAQ:ACCD) PT Lowered to $6.00 at Guggenheim

Accolade (NASDAQ:ACCD) had its target price decreased by Guggenheim from $13.00 to $6.00 in a research report sent to investors on Friday, Benzinga reports. Guggenheim currently has a buy rating on the stock.

A number of other equities research analysts also recently weighed in on ACCD. Wells Fargo & Company dropped their target price on Accolade from $12.00 to $10.00 and set an equal weight rating for the company in a research report on Tuesday, April 30th. Needham & Company LLC restated a buy rating and set a $13.00 price objective on shares of Accolade in a report on Monday, June 24th. Stifel Nicolaus dropped their target price on shares of Accolade from $15.00 to $13.00 and set a buy rating on the stock in a report on Monday, April 22nd. Canaccord Genuity Group reduced their price target on shares of Accolade from $16.00 to $13.00 and set a buy rating for the company in a report on Friday. Finally, Truist Financial dropped their price objective on shares of Accolade from $14.00 to $9.00 and set a buy rating on the stock in a report on Friday. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $11.65.

Accolade Stock Performance

Shares of NASDAQ:ACCD opened at $3.58 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.64 and a quick ratio of 2.64. The business’s fifty day moving average price is $7.09 and its two-hundred day moving average price is $9.66. Accolade has a fifty-two week low of $3.52 and a fifty-two week high of $15.36. The stock has a market capitalization of $286.44 million, a price-to-earnings ratio of -3.09 and a beta of 2.10.

Accolade (NASDAQ:ACCD) last posted its earnings results on Thursday, June 27th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.13. The company had revenue of $110.50 million during the quarter, compared to analysts’ expectations of $105.22 million. Accolade had a negative net margin of 20.62% and a negative return on equity of 20.26%. Accolade’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.52) earnings per share. As a group, analysts predict that Accolade will post -1.23 EPS for the current fiscal year.

Insider Transactions at Accolade

In other Accolade news, CAO Colin Mchugh sold 5,543 shares of Accolade stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $6.62, for a total value of $36,694.66. Following the completion of the sale, the chief accounting officer now owns 50,177 shares in the company, valued at approximately $332,171.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have sold 14,746 shares of company stock worth $104,586. Company insiders own 8.30% of the company’s stock.

Hedge Funds Weigh In On Accolade

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ACCD. AJOVista LLC acquired a new position in Accolade in the fourth quarter valued at about $68,000. Allspring Global Investments Holdings LLC acquired a new position in Accolade during the first quarter worth about $87,000. GGV Capital LLC lifted its holdings in shares of Accolade by 242.9% in the first quarter. GGV Capital LLC now owns 18,063 shares of the company’s stock worth $189,000 after acquiring an additional 12,795 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Accolade by 39.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,584 shares of the company’s stock valued at $199,000 after purchasing an additional 4,656 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in Accolade by 15.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,540 shares of the company’s stock worth $205,000 after purchasing an additional 2,586 shares in 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.