Accolade (NASDAQ:ACCD) Announces Earnings Results, Beats Expectations By $0.01 EPS

Accolade (NASDAQ:ACCD) issued its earnings results on Friday. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.01, Zacks reports. Accolade had a negative return on equity of 18.43% and a negative net margin of 18.16%.

Accolade Stock Performance

Accolade stock traded down $0.01 during mid-day trading on Friday, reaching $6.85. The company had a trading volume of 4,500,248 shares, compared to its average volume of 5,402,039. The company has a 50 day moving average of $3.66 and a 200-day moving average of $3.83. Accolade has a 52 week low of $3.08 and a 52 week high of $15.21. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 0.49. The firm has a market cap of $551.68 million, a price-to-earnings ratio of -6.65 and a beta of 2.08.

Insider Activity

In other news, CEO Rajeev Singh sold 13,357 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $3.60, for a total value of $48,085.20. Following the completion of the transaction, the chief executive officer now owns 814,316 shares in the company, valued at approximately $2,931,537.60. This represents a 1.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders sold 40,881 shares of company stock valued at $144,987. Insiders own 8.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Leerink Partners restated a “market perform” rating on shares of Accolade in a report on Wednesday. Stifel Nicolaus restated a “hold” rating and set a $7.03 price target (down previously from $8.00) on shares of Accolade in a research note on Thursday. Morgan Stanley reduced their price objective on shares of Accolade from $6.00 to $5.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 17th. Wells Fargo & Company decreased their price objective on shares of Accolade from $7.00 to $6.00 and set an “equal weight” rating for the company in a report on Friday, October 11th. Finally, Needham & Company LLC restated a “hold” rating on shares of Accolade in a report on Wednesday. Ten analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $7.55.

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.