Accolade (NASDAQ:ACCD) PT Lowered to $10.00

Accolade (NASDAQ:ACCD) had its price target decreased by investment analysts at Wells Fargo & Company from $12.00 to $10.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 23.46% from the stock’s previous close.

A number of other research firms also recently commented on ACCD. Truist Financial reduced their target price on Accolade from $16.00 to $14.00 and set a “buy” rating for the company in a report on Friday. SVB Leerink started coverage on shares of Accolade in a research note on Monday, February 26th. They issued an “outperform” rating and a $16.00 price objective for the company. Leerink Partnrs restated an “outperform” rating on shares of Accolade in a research report on Monday, February 26th. Raymond James lifted their price target on shares of Accolade from $12.00 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday, January 9th. Finally, Morgan Stanley decreased their price target on Accolade from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Friday. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $14.67.

Accolade Stock Performance

Shares of Accolade stock traded down $0.09 on Tuesday, reaching $8.10. 168,341 shares of the stock were exchanged, compared to its average volume of 727,505. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $627.02 million, a PE ratio of -6.09 and a beta of 2.08. Accolade has a 1-year low of $6.33 and a 1-year high of $15.36. The business has a fifty day moving average price of $9.58 and a two-hundred day moving average price of $9.94.

Accolade (NASDAQ:ACCD) last released its earnings results on Thursday, April 25th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.01. The company had revenue of $124.80 million for the quarter, compared to analysts’ expectations of $123.91 million. Accolade had a negative return on equity of 22.57% and a negative net margin of 24.09%. The firm’s quarterly revenue was up 26.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.42) EPS. As a group, research analysts anticipate that Accolade will post -1.2 earnings per share for the current fiscal year.

Institutional Trading of Accolade

Hedge funds have recently bought and sold shares of the company. Fairman Group LLC purchased a new stake in Accolade during the fourth quarter worth approximately $14,139,000. Ieq Capital LLC purchased a new position in shares of Accolade during the 4th quarter valued at approximately $13,387,000. Sumitomo Mitsui Trust Holdings Inc. grew its holdings 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 acquiring an additional 946,970 shares in the last quarter. ARK Investment Management LLC raised its stake in shares of Accolade by 12.6% in the 4th quarter. ARK Investment Management LLC now owns 6,805,208 shares of the company’s stock valued at $81,731,000 after purchasing an additional 762,685 shares in the last quarter. Finally, JFG Wealth Management LLC bought a new position in shares of Accolade during the fourth quarter worth about $5,657,000. Institutional investors and hedge funds own 84.99% of the company’s stock.

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.