Accolade (NASDAQ:ACCD) PT Lowered to $11.00

Accolade (NASDAQ:ACCD) had its target price lowered by analysts at Barclays from $13.00 to $11.00 in a research note issued on Friday, MarketBeat reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s target price indicates a potential upside of 39.42% from the company’s current price.

Several other research analysts have also recently issued reports on ACCD. SVB Leerink began coverage on Accolade in a research report on Monday, February 26th. They set an “outperform” rating and a $16.00 target price on the stock. Truist Financial lifted their target price on Accolade from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Tuesday, January 9th. Stifel Nicolaus cut their target price on Accolade from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Raymond James boosted their price objective on Accolade from $12.00 to $16.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 9th. Finally, William Blair reissued an “outperform” rating on shares of Accolade in a research report on Tuesday, January 9th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $14.80.

Accolade Trading Down 14.1 %

NASDAQ ACCD opened at $7.89 on Friday. The company has a market cap of $610.76 million, a price-to-earnings ratio of -5.93 and a beta of 2.08. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.48. Accolade has a 52 week low of $6.33 and a 52 week high of $17.00. The business has a 50 day moving average price of $9.66 and a 200-day moving average price of $9.92.

Accolade (NASDAQ:ACCD) last announced its earnings results on Thursday, April 25th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.01. The company had revenue of $124.80 million for the quarter, compared to analysts’ expectations of $123.91 million. Accolade had a negative return on equity of 22.57% and a negative net margin of 24.09%. Accolade’s quarterly revenue was up 26.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.42) earnings per share. As a group, equities analysts expect that Accolade will post -1.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ACCD. AE Wealth Management LLC purchased a new position in shares of Accolade during the 3rd quarter valued at $400,000. Handelsbanken Fonder AB lifted its position in shares of Accolade by 14.8% during the 3rd quarter. Handelsbanken Fonder AB now owns 16,765 shares of the company’s stock valued at $177,000 after buying an additional 2,165 shares during the last quarter. Raymond James & Associates purchased a new position in shares of Accolade during the 3rd quarter valued at $272,000. Bank of New York Mellon Corp lifted its position in shares of Accolade by 2.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 230,092 shares of the company’s stock valued at $2,434,000 after buying an additional 6,069 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Accolade by 84.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,928 shares of the company’s stock valued at $126,000 after buying an additional 5,455 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.