Accolade (NASDAQ:ACCD) PT Lowered to $6.00

Accolade (NASDAQ:ACCD) had its price objective decreased by Wells Fargo & Company from $7.00 to $6.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 59.15% from the stock’s previous close.

Several other equities analysts have also issued reports on ACCD. Barclays decreased their price target on shares of Accolade from $5.50 to $5.00 and set an “equal weight” rating for the company in a report on Wednesday. Morgan Stanley decreased their price objective on shares of Accolade from $12.00 to $6.00 and set an “equal weight” rating for the company in a research report on Friday, June 28th. Guggenheim cut their target price on shares of Accolade from $13.00 to $6.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Canaccord Genuity Group decreased their price objective on Accolade from $13.00 to $7.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Stifel Nicolaus reduced their price target on Accolade from $13.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Accolade presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.04.

Accolade Stock Performance

NASDAQ:ACCD opened at $3.77 on Friday. The firm’s 50-day moving average is $4.01 and its 200-day moving average is $5.78. The company has a market cap of $303.64 million, a price-to-earnings ratio of -3.65 and a beta of 1.99. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.80 and a current ratio of 2.72. Accolade has a 52-week low of $3.35 and a 52-week high of $15.36.

Accolade (NASDAQ:ACCD) last posted its quarterly earnings results on Tuesday, October 8th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.14. The firm had revenue of $106.40 million during the quarter, compared to analyst estimates of $104.87 million. Accolade had a negative net margin of 18.16% and a negative return on equity of 18.43%. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.43) earnings per share. Equities research analysts anticipate that Accolade will post -1.09 earnings per share for the current year.

Hedge Funds Weigh In On Accolade

Large investors have recently modified their holdings of the company. PNC Financial Services Group Inc. lifted its holdings in shares of Accolade by 52,492.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 33,659 shares of the company’s stock valued at $404,000 after purchasing an additional 33,595 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in shares of Accolade by 233.8% during the first quarter. Los Angeles Capital Management LLC now owns 56,149 shares of the company’s stock valued at $588,000 after purchasing an additional 39,330 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Accolade during the first quarter worth about $87,000. Principal Financial Group Inc. purchased a new position in Accolade during the first quarter worth about $259,000. Finally, Mckinley Capital Management LLC bought a new stake in Accolade in the 1st quarter worth about $1,155,000. 84.99% of the stock is currently owned by institutional investors.

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.