Accolade (NASDAQ:ACCD) Given “Market Perform” Rating at Raymond James

Raymond James reaffirmed their market perform rating on shares of Accolade (NASDAQ:ACCD) in a research report released on Thursday morning,Benzinga reports.

Several other equities analysts also recently issued reports on the stock. Canaccord Genuity Group reaffirmed a “hold” rating on shares of Accolade in a report on Wednesday. Stephens lowered their price objective on Accolade from $10.00 to $8.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. Barclays reduced their target price on Accolade from $5.50 to $5.00 and set an “equal weight” rating for the company in a report on Wednesday, October 9th. Morgan Stanley lowered their price target on Accolade from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. Finally, Truist Financial reduced their price objective on Accolade from $9.00 to $7.50 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $7.55.

Accolade Price Performance

Shares of Accolade stock opened at $6.86 on Thursday. The firm has a market cap of $552.48 million, a PE ratio of -6.66 and a beta of 2.08. Accolade has a twelve month low of $3.08 and a twelve month high of $15.36. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 0.49. The business has a 50-day moving average price of $3.66 and a 200 day moving average price of $3.83.

Accolade (NASDAQ:ACCD) last announced its earnings results on Tuesday, October 8th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.14. Accolade had a negative return on equity of 18.43% and a negative net margin of 18.16%. The business had revenue of $106.40 million during the quarter, compared to the consensus estimate of $104.87 million. During the same period in the prior year, the company posted ($0.43) EPS. The business’s quarterly revenue was up 9.8% on a year-over-year basis. Sell-side analysts predict that Accolade will post -0.92 earnings per share for the current fiscal year.

Insider Transactions at Accolade

In related news, CEO Rajeev Singh sold 13,357 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $3.60, for a total value of $48,085.20. Following the completion of the transaction, the chief executive officer now directly owns 814,316 shares in the company, valued at approximately $2,931,537.60. This represents a 1.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 40,881 shares of company stock worth $144,987 in the last 90 days. Insiders own 8.20% of the company’s stock.

Hedge Funds Weigh In On Accolade

Several large investors have recently modified their holdings of the business. Centiva Capital LP raised its holdings in Accolade by 5.8% in the 3rd quarter. Centiva Capital LP now owns 59,660 shares of the company’s stock valued at $230,000 after buying an additional 3,264 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Accolade by 13.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,160 shares of the company’s stock valued at $104,000 after acquiring an additional 3,416 shares during the period. Mission Creek Capital Partners Inc. acquired a new position in shares of Accolade in the 3rd quarter worth approximately $38,000. Inspire Investing LLC lifted its holdings in shares of Accolade by 11.1% in the 3rd quarter. Inspire Investing LLC now owns 106,679 shares of the company’s stock worth $411,000 after acquiring an additional 10,658 shares during the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in shares of Accolade during the 3rd quarter worth approximately $46,000. Institutional investors and hedge funds own 84.99% of the company’s stock.

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 intelligent technology and multimodal support from a team of advocates and clinicians, including registered nurses, physician medical directors, pharmacists, behavioral health specialists, women’s health specialists, case management specialists, expert medical opinion providers, and primary care physicians.