Accolade (NASDAQ:ACCD) Price Target Cut to $8.00 by Analysts at Stephens

Accolade (NASDAQ:ACCD) had its target price lowered by Stephens from $10.00 to $8.00 in a research report report published on Wednesday, Benzinga reports. The firm currently has an overweight rating on the stock.

Several other analysts have also commented on the company. Guggenheim decreased their price target on Accolade from $13.00 to $6.00 and set a buy rating on the stock in a research note on Friday, June 28th. Truist Financial decreased their price target on Accolade from $14.00 to $9.00 and set a buy rating on the stock in a research note on Friday, June 28th. Needham & Company LLC reiterated a buy rating and issued a $8.00 price objective on shares of Accolade in a research report on Monday, October 7th. Barclays cut their price objective on Accolade from $5.50 to $5.00 and set an equal weight rating for the company in a research report on Wednesday. Finally, Morgan Stanley cut their price objective on Accolade from $12.00 to $6.00 and set an equal weight rating for the company in a research report on Friday, June 28th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $9.04.

Accolade Price Performance

Shares of NASDAQ:ACCD opened at $3.79 on Wednesday. The business has a 50 day moving average price of $4.01 and a 200 day moving average price of $5.77. Accolade has a twelve month low of $3.35 and a twelve month high of $15.36. The company has a market cap of $305.25 million, a price-to-earnings ratio of -3.68 and a beta of 1.99. The company has a quick ratio of 2.80, a current ratio of 2.72 and a debt-to-equity ratio of 0.49.

Accolade (NASDAQ:ACCD) last announced its quarterly earnings data on Tuesday, October 8th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $106.40 million during the quarter, compared to the consensus estimate of $104.87 million. During the same quarter last year, the company earned ($0.43) EPS. The company’s quarterly revenue was up 9.8% on a year-over-year basis. Research analysts predict that Accolade will post -1.09 earnings per share for the current year.

Hedge Funds Weigh In On Accolade

Large investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new position in shares of Accolade during the first quarter worth approximately $87,000. SG Americas Securities LLC acquired a new stake in Accolade during the second quarter worth approximately $43,000. GGV Capital LLC grew its position in Accolade by 242.9% during the first quarter. GGV Capital LLC now owns 18,063 shares of the company’s stock worth $189,000 after buying an additional 12,795 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Accolade by 15.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,540 shares of the company’s stock valued at $205,000 after purchasing an additional 2,586 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Accolade by 22.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,373 shares of the company’s stock valued at $73,000 after purchasing an additional 3,789 shares in the last quarter. 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.