Needham & Company LLC Reaffirms Hold Rating for Accolade (NASDAQ:ACCD)

Needham & Company LLC reaffirmed their hold rating on shares of Accolade (NASDAQ:ACCD) in a report issued on Wednesday, MarketBeat Ratings reports.

A number of other equities research analysts also recently issued reports on the company. Truist Financial cut their price target on Accolade from $9.00 to $7.50 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Wells Fargo & Company cut their price target on Accolade from $7.00 to $6.00 and set an “equal weight” rating for the company in a research note on Friday, October 11th. Morgan Stanley cut their price target on Accolade from $6.00 to $5.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 17th. Canaccord Genuity Group cut their price objective on Accolade from $13.00 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Finally, Stephens cut their price objective on Accolade from $10.00 to $8.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. Ten analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $7.55.

Accolade Price Performance

ACCD opened at $6.83 on Wednesday. The stock has a 50-day moving average price of $3.73 and a 200-day moving average price of $3.84. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.72 and a quick ratio of 2.72. The firm has a market cap of $550.07 million, a PE ratio of -6.63 and a beta of 2.08. Accolade has a 1 year low of $3.08 and a 1 year high of $15.21.

Accolade (NASDAQ:ACCD) last issued its earnings results on Friday, January 10th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.01. Accolade had a negative return on equity of 18.43% and a negative net margin of 18.16%. 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 firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $3.60, for a total transaction of $48,085.20. Following the sale, the chief executive officer now owns 814,316 shares of the company’s stock, valued at $2,931,537.60. This trade represents a 1.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders have sold 40,881 shares of company stock valued at $144,987. 8.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Accolade

Institutional investors have recently added to or reduced their stakes in the stock. Mission Creek Capital Partners Inc. bought a new stake in Accolade during the third quarter valued at about $38,000. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in Accolade during the third quarter valued at about $46,000. Wolverine Trading LLC bought a new stake in Accolade during the third quarter valued at about $51,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Accolade by 22.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,373 shares of the company’s stock valued at $73,000 after purchasing an additional 3,789 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. raised its stake in Accolade by 1,144.1% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 20,913 shares of the company’s stock valued at $81,000 after buying an additional 19,232 shares during the last quarter. Institutional investors 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.