Accolade (NASDAQ:ACCD) Lowered to “Hold” Rating by Leerink Partnrs

Leerink Partnrs cut shares of Accolade (NASDAQ:ACCD) from a strong-buy rating to a hold rating in a research note issued to investors on Wednesday morning,Zacks.com reports.

ACCD has been the subject of several other reports. Leerink Partners reiterated a “market perform” rating on shares of Accolade in a research note on Wednesday. Morgan Stanley dropped their price target on Accolade from $6.00 to $5.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 17th. Wells Fargo & Company decreased their price objective on Accolade from $7.00 to $6.00 and set an “equal weight” rating on the stock in a report on Friday, October 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of Accolade in a report on Wednesday. Finally, Truist Financial decreased their price target on shares of Accolade from $9.00 to $7.50 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. Ten investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $7.55.

Accolade Price Performance

Shares of NASDAQ ACCD opened at $6.86 on Wednesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.72 and a current ratio of 2.72. The firm has a fifty day moving average of $3.66 and a 200 day moving average of $3.83. The firm has a market cap of $552.48 million, a PE ratio of -6.66 and a beta of 2.08. Accolade has a one year low of $3.08 and a one year high of $15.36.

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

Insider Activity

In other Accolade news, CEO Rajeev Singh sold 13,357 shares of Accolade stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $3.60, for a total value of $48,085.20. Following the sale, the chief executive officer now owns 814,316 shares in the company, valued at $2,931,537.60. The trade was a 1.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 40,881 shares of company stock valued at $144,987 in the last 90 days. Company insiders own 8.20% of the company’s stock.

Institutional Trading of Accolade

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Mission Creek Capital Partners Inc. purchased a new position in Accolade during the third quarter worth about $38,000. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in shares of Accolade in the 3rd quarter worth approximately $46,000. Wolverine Trading LLC purchased a new position in shares of Accolade during the 3rd quarter worth approximately $51,000. Point72 Asia Singapore Pte. Ltd. increased its holdings in Accolade by 1,144.1% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 20,913 shares of the company’s stock valued at $81,000 after purchasing an additional 19,232 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new stake in Accolade in the 3rd quarter valued at approximately $96,000. 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 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.