Needham & Company LLC Reaffirms “Hold” Rating for Accolade (NASDAQ:ACCD)

Needham & Company LLC reiterated their hold rating on shares of Accolade (NASDAQ:ACCD) in a research report report published on Wednesday morning,Benzinga reports.

Other equities analysts also recently issued reports about the stock. Morgan Stanley decreased their price objective on shares of Accolade from $6.00 to $5.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. Barclays decreased their price target on shares of Accolade from $5.50 to $5.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 9th. Stephens lowered their price objective on Accolade from $10.00 to $8.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. Truist Financial reduced their target price on Accolade from $9.00 to $7.50 and set a “buy” rating for the company in a report on Wednesday, October 9th. Finally, Wells Fargo & Company decreased their target price on Accolade from $7.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Friday, October 11th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $8.96.

Accolade Stock Performance

NASDAQ ACCD opened at $6.86 on Wednesday. The stock has a market capitalization of $552.48 million, a price-to-earnings ratio of -6.66 and a beta of 2.08. The stock has a 50-day moving average of $3.59 and a 200 day moving average of $3.81. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 0.49. Accolade has a twelve month low of $3.08 and a twelve month high of $15.36.

Accolade (NASDAQ:ACCD) last announced its earnings results on Tuesday, October 8th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.14. Accolade had a negative return on equity of 18.43% and a negative net margin of 18.16%. The business had revenue of $106.40 million during the quarter, compared to the consensus estimate of $104.87 million. During the same period in the prior year, the company posted ($0.43) EPS. The business’s quarterly revenue was up 9.8% on a year-over-year basis. Sell-side analysts anticipate that Accolade will post -0.92 EPS for the current fiscal year.

Insider Buying and Selling at Accolade

In other news, CEO Rajeev Singh sold 13,357 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $3.60, for a total transaction of $48,085.20. Following the completion of the sale, the chief executive officer now owns 814,316 shares in the company, valued at $2,931,537.60. This trade represents a 1.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 42,006 shares of company stock worth $149,228 in the last three months. 8.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Accolade

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Centiva Capital LP lifted its stake in shares of Accolade by 5.8% in the 3rd quarter. Centiva Capital LP now owns 59,660 shares of the company’s stock valued at $230,000 after purchasing an additional 3,264 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in Accolade by 13.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,160 shares of the company’s stock valued at $104,000 after buying an additional 3,416 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Accolade by 22.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,373 shares of the company’s stock valued at $73,000 after buying an additional 3,789 shares during the last quarter. Mission Creek Capital Partners Inc. purchased a new position in Accolade during the third quarter worth about $38,000. Finally, Inspire Investing LLC increased its position in shares of Accolade by 11.1% during the third quarter. Inspire Investing LLC now owns 106,679 shares of the company’s stock valued at $411,000 after acquiring an additional 10,658 shares during the last quarter. Institutional investors and hedge funds 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 intelligent technology and multimodal support from a team of advocates and clinicians, including registered nurses, physician medical directors, pharmacists, behavioral health specialists, women’s health specialists, case management specialists, expert medical opinion providers, and primary care physicians.