Berenberg Bank Reiterates Buy Rating for Accolade (NASDAQ:ACCD)

Posted by on Jun 17th, 2022

Accolade (NASDAQ:ACCD – Get Rating)‘s stock had its “buy” rating reissued by equities research analysts at Berenberg Bank in a research report issued on Friday, TipRanks reports. They currently have a $11.00 price objective on the stock. Berenberg Bank’s price target suggests a potential upside of 91.97% from the company’s previous close.

Several other equities research analysts have also recently weighed in on ACCD. Wells Fargo & Company raised shares of Accolade from an “underweight” rating to an “equal weight” rating and set a $6.00 price objective for the company in a research report on Monday, May 2nd. The Goldman Sachs Group lowered their price objective on Accolade from $26.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, May 26th. Piper Sandler decreased their target price on shares of Accolade from $22.00 to $11.00 in a research report on Friday, April 29th. Stifel Nicolaus decreased their target price on Accolade to $16.00 in a research report on Friday, April 29th. Finally, SVB Leerink downgraded Accolade from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $32.00 to $8.00 in a research report on Friday, April 29th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $19.80.

Shares of NASDAQ ACCD traded up $0.33 during trading hours on Friday, hitting $5.73. 29,614 shares of the stock were exchanged, compared to its average volume of 1,244,531. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.66 and a quick ratio of 3.66. Accolade has a one year low of $4.61 and a one year high of $55.47. The company’s 50 day moving average is $8.15 and its 200 day moving average is $15.93. The firm has a market capitalization of $385.57 million, a P/E ratio of -2.85 and a beta of 2.95.

Accolade (NASDAQ:ACCD – Get Rating) last issued its quarterly earnings results on Thursday, April 28th. The company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.45) by ($0.14). Accolade had a negative return on equity of 22.57% and a negative net margin of 39.72%. The business had revenue of $93.76 million for the quarter, compared to analyst estimates of $91.58 million. During the same quarter in the prior year, the firm earned ($0.13) EPS. The firm’s quarterly revenue was up 58.3% compared to the same quarter last year. Research analysts anticipate that Accolade will post -2.46 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in ACCD. Raymond James Financial Services Advisors Inc. raised its stake in shares of Accolade by 1.5% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 34,825 shares of the company’s stock valued at $918,000 after acquiring an additional 503 shares during the period. Legal & General Group Plc boosted its holdings in Accolade by 1.7% in the fourth quarter. Legal & General Group Plc now owns 38,661 shares of the company’s stock valued at $1,019,000 after purchasing an additional 646 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Accolade by 3.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 26,120 shares of the company’s stock worth $689,000 after purchasing an additional 898 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Accolade by 11.3% during the fourth quarter. Arizona State Retirement System now owns 9,781 shares of the company’s stock valued at $258,000 after acquiring an additional 991 shares during the last quarter. Finally, Ensign Peak Advisors Inc purchased a new stake in shares of Accolade during the 4th quarter valued at about $31,000. 81.43% of the stock is currently owned by hedge funds and other institutional investors.

Accolade Company Profile (Get Rating)

Accolade, Inc, together with its subsidiaries, develops and provides 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 nurses, physician medical directors, and behavioral health specialists.

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Analyst Recommendations for Accolade (NASDAQ:ACCD)

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