Accolade, Inc. (NASDAQ:ACCD) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Accolade, Inc. (NASDAQ:ACCD) have received an average rating of “Moderate Buy” from the fifteen brokerages that are currently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $9.04.

A number of analysts have commented on ACCD shares. Stephens dropped their price target on shares of Accolade from $10.00 to $8.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 9th. Barclays dropped their price target on shares of Accolade from $5.50 to $5.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 9th. Wells Fargo & Company dropped their target price on shares of Accolade from $7.00 to $6.00 and set an “equal weight” rating on the stock in a report on Friday, October 11th. Truist Financial dropped their target price on shares of Accolade from $9.00 to $7.50 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $8.00 target price on shares of Accolade in a report on Monday, October 7th.

Institutional Investors Weigh In On Accolade

A number of large investors have recently made changes to their positions in ACCD. Millennium Management LLC raised its holdings in shares of Accolade by 244.7% during the second quarter. Millennium Management LLC now owns 2,623,201 shares of the company’s stock valued at $9,391,000 after acquiring an additional 1,862,178 shares during the period. Clearline Capital LP purchased a new position in Accolade during the second quarter valued at approximately $2,974,000. Johnson Financial Group LLC purchased a new position in Accolade during the third quarter valued at approximately $1,642,000. Acadian Asset Management LLC purchased a new position in Accolade during the second quarter valued at approximately $1,229,000. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in Accolade by 18.5% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,011,931 shares of the company’s stock valued at $7,203,000 after purchasing an additional 314,371 shares in the last quarter. Institutional investors and hedge funds own 84.99% of the company’s stock.

Accolade Trading Down 5.7 %

Accolade stock opened at $3.17 on Friday. The company has a quick ratio of 2.80, a current ratio of 2.72 and a debt-to-equity ratio of 0.49. The firm has a 50-day moving average price of $3.87 and a two-hundred day moving average price of $5.13. The firm has a market capitalization of $255.30 million, a price-to-earnings ratio of -3.08 and a beta of 1.99. Accolade has a 52-week low of $3.13 and a 52-week high of $15.36.

Accolade (NASDAQ:ACCD) last released its quarterly earnings results on Tuesday, October 8th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.14. Accolade had a negative net margin of 18.16% and a negative return on equity of 18.43%. The company had revenue of $106.40 million for the quarter, compared to the consensus estimate of $104.87 million. During the same period in the previous year, the firm earned ($0.43) EPS. Accolade’s revenue was up 9.8% on a year-over-year basis. Sell-side analysts expect that Accolade will post -1.09 earnings per share for the current year.

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 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.