Accolade (NASDAQ:ACCD) Price Target Lowered to $5.00 at Morgan Stanley

Accolade (NASDAQ:ACCD) had its price objective trimmed by Morgan Stanley from $6.00 to $5.00 in a report published on Tuesday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

ACCD has been the subject of several other reports. Wells Fargo & Company dropped their price target on Accolade from $7.00 to $6.00 and set an “equal weight” rating for the company in a research note on Friday, October 11th. Canaccord Genuity Group cut their target price on shares of Accolade from $13.00 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. 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. Truist Financial cut their price objective on Accolade from $9.00 to $7.50 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $8.00 target price on shares of Accolade in a research report on Monday, October 7th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $8.96.

Accolade Stock Up 1.5 %

Shares of ACCD stock opened at $3.32 on Tuesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.72 and a quick ratio of 2.72. Accolade has a one year low of $3.08 and a one year high of $15.36. The company’s fifty day moving average price is $3.52 and its 200-day moving average price is $4.10. The company has a market capitalization of $267.38 million, a price-to-earnings ratio of -3.22 and a beta of 2.07.

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

Insider Activity at Accolade

In related news, CEO Rajeev Singh sold 13,357 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $3.60, for a total value of $48,085.20. Following the sale, the chief executive officer now directly owns 814,316 shares of the company’s stock, valued at $2,931,537.60. This represents a 1.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 42,095 shares of company stock worth $150,475. Company insiders own 8.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Millennium Management LLC boosted its holdings in Accolade by 244.7% during the 2nd quarter. Millennium Management LLC now owns 2,623,201 shares of the company’s stock valued at $9,391,000 after acquiring an additional 1,862,178 shares during the period. Whetstone Capital Advisors LLC purchased a new stake in shares of Accolade during the third quarter valued at $3,842,000. Clearline Capital LP bought a new position in shares of Accolade in the second quarter worth about $2,974,000. Point72 Asset Management L.P. purchased a new position in Accolade in the 3rd quarter worth about $2,378,000. Finally, Johnson Financial Group LLC bought a new stake in Accolade during the 3rd quarter valued at about $1,642,000. 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 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.