Piper Sandler Downgrades Accolade (NASDAQ:ACCD) to Hold

Piper Sandler lowered shares of Accolade (NASDAQ:ACCD) from a strong-buy rating to a hold rating in a research note released on Wednesday,Zacks.com reports.

ACCD has been the topic of several other reports. Canaccord Genuity Group reiterated a “hold” rating on shares of Accolade in a research report on Wednesday, January 8th. Stephens restated an “equal weight” rating and set a $7.03 target price on shares of Accolade in a research report on Wednesday, February 12th. William Blair lowered shares of Accolade from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 8th. Leerink Partners restated a “market perform” rating on shares of Accolade in a research report on Wednesday, January 8th. Finally, Leerink Partnrs lowered shares of Accolade from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 8th. Thirteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Accolade presently has a consensus rating of “Hold” and a consensus price target of $6.51.

Accolade Stock Performance

NASDAQ ACCD opened at $6.97 on Wednesday. The stock has a market capitalization of $571.49 million, a P/E ratio of -3.10 and a beta of 2.18. Accolade has a 52-week low of $3.08 and a 52-week high of $10.68. The firm has a 50-day moving average price of $6.35 and a 200 day moving average price of $4.65. The company has a quick ratio of 2.63, a current ratio of 2.63 and a debt-to-equity ratio of 0.67.

Accolade (NASDAQ:ACCD) last released its quarterly earnings results on Friday, January 10th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.01. Accolade had a negative net margin of 40.36% and a negative return on equity of 20.74%. Equities research analysts expect that Accolade will post -1.2 EPS for the current year.

Hedge Funds Weigh In On Accolade

A number of hedge funds have recently made changes to their positions in the stock. D. E. Shaw & Co. Inc. boosted its holdings in shares of Accolade by 77.9% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,280,783 shares of the company’s stock valued at $7,800,000 after purchasing an additional 998,423 shares during the last quarter. Fairman Group LLC raised its stake in shares of Accolade by 58.5% in the 4th quarter. Fairman Group LLC now owns 1,802,399 shares of the company’s stock valued at $6,164,000 after acquiring an additional 665,112 shares during the period. Geode Capital Management LLC raised its stake in shares of Accolade by 4.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,782,038 shares of the company’s stock valued at $6,862,000 after acquiring an additional 83,556 shares during the period. Whetstone Capital Advisors LLC lifted its holdings in shares of Accolade by 58.9% during the 4th quarter. Whetstone Capital Advisors LLC now owns 1,585,643 shares of the company’s stock valued at $5,423,000 after acquiring an additional 587,754 shares in the last quarter. Finally, Clearline Capital LP lifted its holdings in shares of Accolade by 85.3% during the 3rd quarter. Clearline Capital LP now owns 1,539,578 shares of the company’s stock valued at $5,927,000 after acquiring an additional 708,794 shares in the last quarter. Institutional investors and hedge funds 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.