Accolade (NASDAQ:ACCD) Price Target Lowered to $10.00 at Wells Fargo & Company

Accolade (NASDAQ:ACCD) had its price objective cut by equities research analysts at Wells Fargo & Company from $12.00 to $10.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 35.87% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. Piper Sandler increased their price target on Accolade from $12.00 to $15.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 9th. Canaccord Genuity Group reduced their target price on Accolade from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, April 26th. Leerink Partnrs reaffirmed an “outperform” rating on shares of Accolade in a report on Monday, February 26th. Truist Financial reduced their target price on Accolade from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Friday, April 26th. Finally, Morgan Stanley reduced their target price on Accolade from $13.00 to $12.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Accolade currently has a consensus rating of “Moderate Buy” and an average price target of $14.57.

Accolade Trading Down 3.5 %

Shares of NASDAQ:ACCD opened at $7.36 on Tuesday. The company has a market capitalization of $576.73 million, a P/E ratio of -5.53 and a beta of 2.08. Accolade has a 1 year low of $6.33 and a 1 year high of $15.36. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.64 and a quick ratio of 2.35. The business’s 50 day simple moving average is $9.42 and its 200 day simple moving average is $9.93.

Accolade (NASDAQ:ACCD) last issued its quarterly earnings results on Thursday, April 25th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.01. The business had revenue of $124.80 million for the quarter, compared to the consensus estimate of $123.91 million. Accolade had a negative return on equity of 22.53% and a negative net margin of 24.09%. The firm’s quarterly revenue was up 26.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.42) earnings per share. On average, research analysts anticipate that Accolade will post -1.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Accolade

Several hedge funds have recently modified their holdings of ACCD. Fairman Group LLC acquired a new stake in shares of Accolade during the 4th quarter valued at $14,139,000. Ieq Capital LLC bought a new position in Accolade during the 4th quarter worth $13,387,000. Sumitomo Mitsui Trust Holdings Inc. raised its position in 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. ARK Investment Management LLC raised its position in Accolade by 12.6% during 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 last quarter. Finally, JFG Wealth Management LLC bought a new position in Accolade during the 4th quarter worth $5,657,000. 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 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.