Accolade (NASDAQ:ACCD) PT Lowered to $14.00 at Truist Financial

Accolade (NASDAQ:ACCD) had its target price trimmed by Truist Financial from $16.00 to $14.00 in a research report sent to investors on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research firms have also weighed in on ACCD. William Blair reaffirmed an outperform rating on shares of Accolade in a research note on Tuesday, January 9th. Needham & Company LLC lowered their target price on Accolade from $17.00 to $13.00 and set a buy rating for the company in a report on Friday. Canaccord Genuity Group cut their price target on Accolade from $18.00 to $16.00 and set a buy rating on the stock in a report on Friday. Piper Sandler upped their price objective on Accolade from $12.00 to $15.00 and gave the stock an overweight rating in a research note on Tuesday, January 9th. Finally, Stifel Nicolaus reduced their target price on shares of Accolade from $15.00 to $13.00 and set a buy rating for the company in a report on Monday, April 22nd. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $14.80.

Accolade Price Performance

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. The business has a fifty day moving average of $9.66 and a 200 day moving average of $9.93. Accolade has a 52-week low of $6.33 and a 52-week high of $17.00. The stock has a market cap of $610.76 million, a P/E ratio of -5.93 and a beta of 2.08.

Accolade (NASDAQ:ACCD) last posted its quarterly earnings results on Thursday, April 25th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.01. The company had revenue of $124.80 million for the quarter, compared to the consensus estimate of $123.91 million. Accolade had a negative net margin of 24.09% and a negative return on equity of 22.57%. The firm’s revenue was up 26.1% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.42) EPS. 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 and hedge funds have recently added to or reduced their stakes in the business. ARK Investment Management LLC raised its holdings in Accolade by 12.6% in the 4th quarter. ARK Investment Management LLC now owns 6,805,208 shares of the company’s stock worth $81,731,000 after purchasing an additional 762,685 shares during the period. Vanguard Group Inc. lifted its holdings in Accolade by 3.1% during the third quarter. Vanguard Group Inc. now owns 5,283,858 shares of the company’s stock valued at $55,903,000 after purchasing an additional 157,464 shares in the last quarter. Rock Springs Capital Management LP grew its position in shares of Accolade by 3.3% in the third quarter. Rock Springs Capital Management LP now owns 2,913,000 shares of the company’s stock valued at $30,820,000 after purchasing an additional 93,000 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Accolade by 2.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,921,676 shares of the company’s stock worth $23,083,000 after purchasing an additional 50,311 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Accolade by 111.1% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,798,993 shares of the company’s stock worth $19,033,000 after purchasing an additional 946,970 shares during the last quarter. 84.99% of the stock is currently owned by institutional investors and hedge funds.

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 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.