Accolade, Inc. (NASDAQ:ACCD) Receives Consensus Rating of “Hold” from Analysts

Shares of Accolade, Inc. (NASDAQ:ACCD) have been given an average recommendation of “Hold” by the fourteen analysts that are presently covering the stock, MarketBeat Ratings reports. Thirteen research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $6.51.

ACCD has been the topic of several research analyst reports. Stephens reaffirmed an “equal weight” rating and set a $7.03 price objective on shares of Accolade in a research note on Wednesday, February 12th. Raymond James reiterated a “market perform” rating on shares of Accolade in a report on Thursday, January 9th. Truist Financial cut Accolade from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Canaccord Genuity Group reaffirmed a “hold” rating on shares of Accolade in a research note on Wednesday, January 8th. Finally, Piper Sandler cut shares of Accolade from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th.

Accolade Stock Performance

Shares of ACCD stock opened at $6.99 on Monday. The stock has a 50-day moving average of $6.94 and a 200-day moving average of $4.97. Accolade has a one year low of $3.08 and a one year high of $10.45. The stock has a market cap of $573.13 million, a PE ratio of -3.11 and a beta of 2.18. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.63 and a quick ratio of 2.63.

Accolade (NASDAQ:ACCD) last issued its 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%. As a group, sell-side analysts expect that Accolade will post -1.2 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. D. E. Shaw & Co. Inc. increased its stake in 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 buying an additional 998,423 shares during the last quarter. Clearline Capital LP increased its position in shares of Accolade by 85.3% in the third 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 during the last quarter. Fairman Group LLC raised its holdings in Accolade by 58.5% during the fourth quarter. Fairman Group LLC now owns 1,802,399 shares of the company’s stock worth $6,164,000 after acquiring an additional 665,112 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Accolade during the third quarter valued at approximately $2,378,000. Finally, Whetstone Capital Advisors LLC grew its stake in Accolade by 58.9% in the fourth quarter. Whetstone Capital Advisors LLC now owns 1,585,643 shares of the company’s stock valued at $5,423,000 after purchasing an additional 587,754 shares in the last quarter. Institutional investors and hedge funds own 84.99% of the company’s stock.

About Accolade

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.