Canaccord Genuity Group Reiterates Hold Rating for Accolade (NASDAQ:ACCD)

Canaccord Genuity Group reiterated their hold rating on shares of Accolade (NASDAQ:ACCD) in a research report released on Wednesday, Marketbeat Ratings reports.

Several other equities research analysts also recently weighed in on ACCD. Truist Financial reduced their target price on shares of Accolade from $9.00 to $7.50 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Accolade in a research note on Wednesday. Morgan Stanley reduced their price target on shares of Accolade from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. Leerink Partners reaffirmed a “market perform” rating on shares of Accolade in a research note on Wednesday. Finally, Wells Fargo & Company reduced their price target on shares of Accolade from $7.00 to $6.00 and set an “equal weight” rating on the stock in a research note on Friday, October 11th. Ten investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Accolade currently has an average rating of “Hold” and a consensus target price of $7.55.

Accolade Trading Down 0.4 %

Shares of ACCD opened at $6.83 on Wednesday. Accolade has a twelve month low of $3.08 and a twelve month high of $15.21. The company has a market cap of $550.07 million, a P/E ratio of -6.63 and a beta of 2.08. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 0.49. The company’s fifty day simple moving average is $3.73 and its 200-day simple moving average is $3.84.

Accolade (NASDAQ:ACCD) last announced its earnings results on Friday, January 10th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.01. Accolade had a negative net margin of 18.16% and a negative return on equity of 18.43%. As a group, analysts expect that Accolade will post -0.92 EPS for the current year.

Insider Buying and Selling at Accolade

In other Accolade news, CEO Rajeev Singh sold 13,357 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $3.60, for a total transaction of $48,085.20. Following the transaction, the chief executive officer now owns 814,316 shares of the company’s stock, valued at approximately $2,931,537.60. This trade represents a 1.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders have sold 40,881 shares of company stock valued at $144,987. Company insiders own 8.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ACCD. Mission Creek Capital Partners Inc. bought a new stake in shares of Accolade in the 3rd quarter valued at about $38,000. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in Accolade in the 3rd quarter worth approximately $46,000. Wolverine Trading LLC purchased a new stake in shares of Accolade in the 3rd quarter valued at $51,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Accolade by 22.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,373 shares of the company’s stock valued at $73,000 after acquiring an additional 3,789 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of Accolade by 1,144.1% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 20,913 shares of the company’s stock valued at $81,000 after acquiring an additional 19,232 shares during the last quarter. Hedge funds and other institutional investors 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 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.