Accolade (NASDAQ:ACCD) Price Target Cut to $13.00 by Analysts at Stifel Nicolaus

Accolade (NASDAQ:ACCD) had its target price reduced by Stifel Nicolaus from $15.00 to $13.00 in a research report released on Monday morning, Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

Several other research analysts also recently issued reports on the stock. Truist Financial upped their price target on shares of Accolade from $15.00 to $16.00 and gave the stock a buy rating in a research report on Tuesday, January 9th. William Blair reaffirmed an outperform rating on shares of Accolade in a research note on Tuesday, January 9th. Raymond James raised their price objective on shares of Accolade from $12.00 to $16.00 and gave the company an outperform rating in a research note on Tuesday, January 9th. Piper Sandler increased their target price on shares of Accolade from $12.00 to $15.00 and gave the stock an overweight rating in a report on Tuesday, January 9th. Finally, Needham & Company LLC reiterated a buy rating and issued a $17.00 target price on shares of Accolade in a report on Friday, January 19th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $15.53.

Accolade Trading Up 0.9 %

Accolade stock opened at $9.21 on Monday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.35 and a current ratio of 2.35. The business’s 50-day simple moving average is $9.97 and its 200-day simple moving average is $9.92. The firm has a market capitalization of $712.95 million, a PE ratio of -5.58 and a beta of 2.08. Accolade has a 52 week low of $6.33 and a 52 week high of $17.00.

Institutional Investors Weigh In On Accolade

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. ARK Investment Management LLC increased its stake in Accolade by 12.6% in 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. Vanguard Group Inc. grew its position in shares of Accolade by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 5,283,858 shares of the company’s stock valued at $55,903,000 after acquiring an additional 157,464 shares during the period. Rock Springs Capital Management LP grew its position in shares of Accolade by 3.3% in 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 acquiring an additional 93,000 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Accolade by 2.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,921,676 shares of the company’s stock valued at $23,083,000 after acquiring an additional 50,311 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Accolade by 111.1% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,798,993 shares of the company’s stock valued at $19,033,000 after acquiring an additional 946,970 shares during the period. 84.99% of the stock is currently 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.