Accolade (NASDAQ:ACCD) PT Lowered to $13.00

Accolade (NASDAQ:ACCD) had its price objective decreased by equities research analysts at Guggenheim from $17.00 to $13.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Guggenheim’s price objective would suggest a potential upside of 78.33% from the stock’s previous close.

Several other equities research analysts have also commented on the stock. Needham & Company LLC dropped their price objective on shares of Accolade from $17.00 to $13.00 and set a “buy” rating on the stock in a research note on Friday, April 26th. Morgan Stanley reduced their price objective on shares of Accolade from $13.00 to $12.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. Barclays decreased their target price on Accolade from $13.00 to $11.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. William Blair reaffirmed an “outperform” rating on shares of Accolade in a research report on Tuesday, January 9th. Finally, Wells Fargo & Company reduced their price objective on Accolade from $12.00 to $10.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 30th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $14.14.

Accolade Price Performance

ACCD opened at $7.29 on Wednesday. The firm has a market cap of $571.24 million, a price-to-earnings ratio of -5.48 and a beta of 2.15. 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 2.64. The stock’s 50 day simple moving average is $9.04 and its 200 day simple moving average is $9.92.

Accolade (NASDAQ:ACCD) last announced its quarterly earnings results on Thursday, April 25th. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.01. The company had revenue of $124.80 million during the quarter, compared to analyst estimates 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 revenue was up 26.1% on a year-over-year basis. During the same quarter last year, the firm posted ($0.42) earnings per share. As a group, analysts predict that Accolade will post -1.24 earnings per share for the current year.

Hedge Funds Weigh In On Accolade

Several institutional investors have recently bought and sold shares of ACCD. DekaBank Deutsche Girozentrale purchased a new position in Accolade in the third quarter worth about $28,000. AJOVista LLC purchased a new stake in Accolade in the 4th quarter valued at about $68,000. Allspring Global Investments Holdings LLC bought a new position in Accolade in the 1st quarter worth about $87,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Accolade by 84.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,928 shares of the company’s stock worth $126,000 after buying an additional 5,455 shares during the period. Finally, Olympiad Research LP bought a new position in Accolade during the 3rd quarter worth about $171,000. 84.99% of the stock is owned by hedge funds and other institutional investors.

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.