Needham & Company LLC Lowers Accolade (NASDAQ:ACCD) Price Target to $33.00

Accolade (NASDAQ:ACCD) had its target price decreased by Needham & Company LLC from $56.00 to $33.00 in a report issued on Tuesday morning, The Fly reports. Needham & Company LLC currently has a buy rating on the stock.

ACCD has been the topic of a number of other reports. dropped their price target on Accolade from $62.00 to $52.00 and set a buy rating on the stock in a research note on Friday, October 8th. Jefferies Financial Group began coverage on Accolade in a report on Wednesday, December 1st. They issued a buy rating and a $33.00 target price on the stock. Credit Suisse Group decreased their target price on Accolade from $63.00 to $62.00 and set an outperform rating on the stock in a report on Friday, October 8th. SVB Leerink decreased their target price on Accolade from $58.00 to $52.00 and set an outperform rating on the stock in a report on Friday, October 8th. Finally, Robert W. Baird raised Accolade from a neutral rating to an outperform rating and decreased their target price for the stock from $58.00 to $54.00 in a report on Friday, September 17th. They noted that the move was a valuation call. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Buy and an average price target of $43.73.

ACCD stock opened at $20.21 on Tuesday. The company has a market cap of $1.35 billion, a P/E ratio of -11.68 and a beta of 1.82. Accolade has a 1 year low of $18.72 and a 1 year high of $59.93. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.21 and a quick ratio of 1.67. The stock’s fifty day moving average price is $27.31 and its 200-day moving average price is $39.09.

Accolade (NASDAQ:ACCD) last released its quarterly earnings results on Monday, January 10th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.68) by $0.99. The firm had revenue of $83.45 million for the quarter, compared to the consensus estimate of $75.89 million. Accolade had a negative return on equity of 20.66% and a negative net margin of 33.86%. The company’s revenue for the quarter was up 117.1% on a year-over-year basis. During the same period last year, the business posted ($0.32) EPS. As a group, analysts expect that Accolade will post -2.66 earnings per share for the current year.

A number of large investors have recently bought and sold shares of the business. UBS Asset Management Americas Inc. raised its holdings in Accolade by 39.9% during the third quarter. UBS Asset Management Americas Inc. now owns 38,597 shares of the company’s stock valued at $1,628,000 after acquiring an additional 11,008 shares during the period. Perceptive Advisors LLC raised its holdings in Accolade by 13.8% during the third quarter. Perceptive Advisors LLC now owns 279,774 shares of the company’s stock valued at $11,798,000 after acquiring an additional 34,033 shares during the period. Bank of New York Mellon Corp raised its holdings in Accolade by 42.1% during the third quarter. Bank of New York Mellon Corp now owns 212,210 shares of the company’s stock valued at $8,950,000 after acquiring an additional 62,889 shares during the period. Janus Henderson Group PLC raised its holdings in Accolade by 9.6% during the third quarter. Janus Henderson Group PLC now owns 1,867,008 shares of the company’s stock valued at $78,734,000 after acquiring an additional 163,416 shares during the period. Finally, Squarepoint Ops LLC increased its holdings in shares of Accolade by 303.1% in the third quarter. Squarepoint Ops LLC now owns 52,223 shares of the company’s stock worth $2,202,000 after purchasing an additional 39,268 shares during the last quarter. 72.11% of the stock is currently owned by institutional investors and hedge funds.

Accolade Company Profile

Accolade, Inc develops and provides 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 nurses, physician medical directors, and behavioral health specialists.

Further Reading: How does inflation affect different investments?

The Fly logo

Analyst Recommendations for Accolade (NASDAQ:ACCD)

Receive News & Ratings for Accolade Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Accolade and related companies with MarketBeat.com's FREE daily email newsletter.