Accolade, Inc. (NASDAQ:ACCD) Given Consensus Recommendation of “Hold” by Analysts

Accolade, Inc. (NASDAQ:ACCD) has been assigned a consensus recommendation of “Hold” from the thirteen analysts that are currently covering the stock, MarketBeat Ratings reports. Twelve analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $7.55.

A number of research firms recently weighed in on ACCD. Truist Financial downgraded Accolade from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. William Blair lowered Accolade from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 8th. Raymond James restated a “market perform” rating on shares of Accolade in a research report on Thursday, January 9th. Canaccord Genuity Group reaffirmed a “hold” 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 report on Wednesday, January 8th.

Accolade Stock Down 0.1 %

ACCD opened at $6.88 on Wednesday. The business has a 50 day moving average of $4.15 and a 200-day moving average of $3.93. The stock has a market capitalization of $561.34 million, a price-to-earnings ratio of -3.06 and a beta of 2.08. The company has a current ratio of 2.63, a quick ratio of 2.63 and a debt-to-equity ratio of 0.67. Accolade has a 1-year low of $3.08 and a 1-year high of $13.93.

Accolade (NASDAQ:ACCD) last issued its quarterly earnings results on Friday, January 10th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates 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 anticipate that Accolade will post -0.92 earnings per share for the current year.

Insider Activity at Accolade

In related news, CEO Rajeev Singh sold 13,357 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $3.60, for a total transaction of $48,085.20. Following the completion of the sale, the chief executive officer now directly owns 814,316 shares of the company’s stock, valued at $2,931,537.60. This trade represents a 1.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 41,947 shares of company stock valued at $154,439 in the last ninety days. Insiders own 8.20% of the company’s stock.

Hedge Funds Weigh In On Accolade

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Millennium Management LLC raised its holdings in shares of Accolade by 244.7% in the second quarter. Millennium Management LLC now owns 2,623,201 shares of the company’s stock valued at $9,391,000 after buying an additional 1,862,178 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Accolade by 4.9% in the third quarter. Geode Capital Management LLC now owns 1,782,038 shares of the company’s stock valued at $6,862,000 after purchasing an additional 83,556 shares in the last quarter. Clearline Capital LP lifted its holdings in Accolade by 85.3% during the 3rd quarter. Clearline Capital LP now owns 1,539,578 shares of the company’s stock worth $5,927,000 after buying an additional 708,794 shares in the last quarter. Whetstone Capital Advisors LLC bought a new position in Accolade in the 3rd quarter valued at $3,842,000. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Accolade in the 3rd quarter valued at $2,378,000. 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.