Accolade (NASDAQ:ACCD) Price Target Cut to $14.00 by Analysts at Truist Financial

Accolade (NASDAQ:ACCD) had its price objective trimmed by Truist Financial from $16.00 to $14.00 in a research note published on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

ACCD has been the topic of a number of other reports. Canaccord Genuity Group lowered their price target on shares of Accolade from $18.00 to $16.00 and set a buy rating on the stock in a report on Friday. Needham & Company LLC decreased their price objective on shares of Accolade from $17.00 to $13.00 and set a buy rating on the stock in a report on Friday. Piper Sandler increased their price objective on shares of Accolade from $12.00 to $15.00 and gave the company an overweight rating in a report on Tuesday, January 9th. Barclays decreased their price objective on shares of Accolade from $13.00 to $11.00 and set an equal weight rating on the stock in a report on Friday. Finally, Wells Fargo & Company increased their price objective on shares of Accolade from $10.00 to $12.00 and gave the company an equal weight rating in a report on Tuesday, January 9th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $14.80.

Accolade Stock Performance

Shares of NASDAQ ACCD opened at $7.89 on Friday. The company’s fifty day moving average price is $9.66 and its 200 day moving average price is $9.91. Accolade has a 1 year low of $6.33 and a 1 year high of $17.00. The company has a market capitalization of $610.75 million, a PE ratio of -4.78 and a beta of 2.08. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.35 and a current ratio of 2.35.

Accolade (NASDAQ:ACCD) last announced 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. Accolade had a negative net margin of 31.59% and a negative return on equity of 27.27%. The firm had revenue of $124.80 million for the quarter, compared to the consensus estimate of $123.91 million. During the same period in the prior year, the firm posted ($0.42) earnings per share. The firm’s quarterly revenue was up 26.1% compared to the same quarter last year. On average, research analysts predict that Accolade will post -1.33 earnings per share for the current year.

Institutional Investors Weigh In On Accolade

Hedge funds have recently modified their holdings of the business. ARK Investment Management LLC increased its position in Accolade by 12.6% during the fourth 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. Vanguard Group Inc. increased its position in Accolade by 3.1% during the third quarter. Vanguard Group Inc. now owns 5,283,858 shares of the company’s stock worth $55,903,000 after purchasing an additional 157,464 shares during the last quarter. Rock Springs Capital Management LP increased its position in Accolade by 3.3% during the third quarter. Rock Springs Capital Management LP now owns 2,913,000 shares of the company’s stock worth $30,820,000 after purchasing an additional 93,000 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Accolade by 2.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,921,676 shares of the company’s stock worth $23,083,000 after purchasing an additional 50,311 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in Accolade by 111.1% during the third 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. 84.99% of the stock is currently owned by institutional investors and hedge funds.

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.