Barclays Cuts Accolade (NASDAQ:ACCD) Price Target to $11.00

Accolade (NASDAQ:ACCD) had its target price reduced by Barclays from $13.00 to $11.00 in a report published on Friday, Marketbeat reports. Barclays currently has an equal weight rating on the stock.

Other equities analysts have also recently issued research reports about the company. Truist Financial lifted their target price on Accolade from $15.00 to $16.00 and gave the company a buy rating in a research note on Tuesday, January 9th. Raymond James lifted their price target on Accolade from $12.00 to $16.00 and gave the company an outperform rating in a report on Tuesday, January 9th. Wells Fargo & Company lifted their price target on Accolade from $10.00 to $12.00 and gave the company an equal weight rating in a report on Tuesday, January 9th. Needham & Company LLC reiterated a buy rating and set a $17.00 price target on shares of Accolade in a report on Friday, January 19th. Finally, William Blair reiterated an outperform rating on shares of Accolade in a report on Tuesday, January 9th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Accolade presently has a consensus rating of Moderate Buy and a consensus price target of $14.80.

Accolade Trading Down 14.1 %

Shares of ACCD opened at $7.89 on Friday. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.48. Accolade has a 1-year low of $6.33 and a 1-year high of $17.00. The business’s 50-day moving average price is $9.66 and its 200 day moving average price is $9.93. The stock 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 released its earnings results 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. Accolade had a negative return on equity of 22.57% and a negative net margin of 24.09%. The company had revenue of $124.80 million for the quarter, compared to analysts’ expectations of $123.91 million. During the same quarter in the previous year, the business posted ($0.42) EPS. The business’s revenue for the quarter was up 26.1% on a year-over-year basis. Analysts expect that Accolade will post -1.2 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Nordea Investment Management AB lifted its holdings in shares of Accolade by 1.4% during the third quarter. Nordea Investment Management AB now owns 106,764 shares of the company’s stock worth $1,148,000 after buying an additional 1,423 shares during the last quarter. Handelsbanken Fonder AB increased its position in shares of Accolade by 14.8% during the third quarter. Handelsbanken Fonder AB now owns 16,765 shares of the company’s stock valued at $177,000 after purchasing an additional 2,165 shares during the period. BluePath Capital Management LLC bought a new stake in shares of Accolade during the third quarter valued at approximately $28,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Accolade during the third quarter valued at approximately $28,000. Finally, Barclays PLC increased its position in shares of Accolade by 10.8% during the third quarter. Barclays PLC now owns 37,630 shares of the company’s stock valued at $398,000 after purchasing an additional 3,671 shares during the period. 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.