Accolade (NASDAQ:ACCD) PT Lowered to $12.00 at Morgan Stanley

Accolade (NASDAQ:ACCD) had its target price lowered by Morgan Stanley from $13.00 to $12.00 in a research note released on Friday morning, Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other research firms also recently commented on ACCD. Stifel Nicolaus decreased their price objective on Accolade from $15.00 to $13.00 and set a buy rating for the company in a report on Monday, April 22nd. Needham & Company LLC decreased their price target on shares of Accolade from $17.00 to $13.00 and set a buy rating for the company in a research note on Friday. Wells Fargo & Company raised their price objective on shares of Accolade from $10.00 to $12.00 and gave the company an equal weight rating in a research note on Tuesday, January 9th. Truist Financial decreased their target price on shares of Accolade from $16.00 to $14.00 and set a buy rating for the company in a research report on Friday. Finally, SVB Leerink assumed coverage on shares of Accolade in a research report on Monday, February 26th. They issued an outperform rating and a $16.00 price target on the stock. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $14.80.

Accolade Stock Performance

NASDAQ:ACCD opened at $7.89 on Friday. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.48. Accolade has a twelve month low of $6.33 and a twelve month high of $17.00. The company has a fifty day moving average of $9.66 and a 200-day moving average of $9.93. The firm has a market capitalization of $610.76 million, a P/E ratio of -5.93 and a beta of 2.08.

Accolade (NASDAQ:ACCD) last announced its quarterly earnings data on Thursday, April 25th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.01. The firm had revenue of $124.80 million for the quarter, compared to analyst estimates of $123.91 million. Accolade had a negative net margin of 24.09% and a negative return on equity of 22.57%. The business’s quarterly revenue was up 26.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.42) earnings per share. As a group, sell-side analysts anticipate that Accolade will post -1.2 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Fairman Group LLC purchased a new position in Accolade during the fourth quarter valued at approximately $14,139,000. Ieq Capital LLC bought a new position in shares of Accolade in the fourth quarter worth $13,387,000. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Accolade by 111.1% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,798,993 shares of the company’s stock worth $19,033,000 after buying an additional 946,970 shares in the last quarter. ARK Investment Management LLC boosted its stake in Accolade by 12.6% during the fourth quarter. ARK Investment Management LLC now owns 6,805,208 shares of the company’s stock valued at $81,731,000 after buying an additional 762,685 shares during the period. Finally, JFG Wealth Management LLC purchased a new position in Accolade during the fourth quarter worth about $5,657,000. Hedge funds and other institutional investors 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 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.