Accolade, Inc. (NASDAQ:ACCD) Receives $14.57 Consensus Price Target from Brokerages

Shares of Accolade, Inc. (NASDAQ:ACCD) have earned a consensus recommendation of “Moderate Buy” from the sixteen research firms that are currently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $14.57.

Several research analysts have issued reports on the stock. Morgan Stanley lowered their price objective on shares of Accolade from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Canaccord Genuity Group dropped their price target on Accolade from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, April 26th. Truist Financial reduced their price objective on Accolade from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, April 26th. Stifel Nicolaus lowered their target price on Accolade from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Finally, William Blair restated an “outperform” rating on shares of Accolade in a research note on Tuesday, January 9th.

Institutional Trading of Accolade

Several hedge funds and other institutional investors have recently made changes to their positions in ACCD. BluePath Capital Management LLC acquired a new stake in shares of Accolade during the 3rd quarter valued at approximately $28,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Accolade in the third quarter valued at approximately $28,000. AJOVista LLC purchased a new position in shares of Accolade during the 4th quarter worth approximately $68,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Accolade during the 1st quarter worth approximately $87,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Accolade by 84.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,928 shares of the company’s stock worth $126,000 after acquiring an additional 5,455 shares during the last quarter. Institutional investors and hedge funds own 84.99% of the company’s stock.

Accolade Stock Up 3.9 %

Shares of NASDAQ ACCD opened at $7.54 on Thursday. The business has a 50-day moving average price of $9.30 and a 200 day moving average price of $9.93. The stock has a market cap of $590.83 million, a PE ratio of -5.67 and a beta of 2.15. The company has a quick ratio of 2.35, a current ratio of 2.64 and a debt-to-equity ratio of 0.47. Accolade has a 52-week low of $6.33 and a 52-week high of $15.36.

Accolade (NASDAQ:ACCD) last posted 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 business had revenue of $124.80 million during 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 company’s revenue was up 26.1% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.42) earnings per share. Equities research analysts forecast that Accolade will post -1.24 earnings per share for the current year.

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.