Accolade (NASDAQ:ACCD) Earns “Market Perform” Rating from Leerink Partners

Leerink Partners reissued their market perform rating on shares of Accolade (NASDAQ:ACCD) in a research note released on Wednesday morning,Benzinga reports.

A number of other equities research analysts have also commented on ACCD. Wells Fargo & Company decreased their price target on Accolade from $7.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Friday, October 11th. Canaccord Genuity Group reduced their price objective on Accolade from $13.00 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Barclays reduced their price objective on Accolade from $5.50 to $5.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $8.00 price objective on shares of Accolade in a report on Monday, October 7th. Finally, Truist Financial cut their price target on Accolade from $9.00 to $7.50 and set a “buy” rating on the stock 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’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $7.55.

Accolade Trading Down 0.4 %

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

Accolade (NASDAQ:ACCD) last released its quarterly earnings data 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 return on equity of 18.43% and a negative net margin of 18.16%. Equities analysts anticipate that Accolade will post -0.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Accolade

In other news, CEO Rajeev Singh sold 13,357 shares of the 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 $2,931,537.60. This represents a 1.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders have sold 40,881 shares of company stock valued at $144,987. 8.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Accolade

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Millennium Management LLC boosted its position in shares of Accolade by 244.7% during the 2nd quarter. Millennium Management LLC now owns 2,623,201 shares of the company’s stock worth $9,391,000 after purchasing an additional 1,862,178 shares in the last quarter. Geode Capital Management LLC lifted its position in Accolade by 4.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,782,038 shares of the company’s stock valued at $6,862,000 after acquiring an additional 83,556 shares in the last quarter. Clearline Capital LP lifted its position in Accolade by 85.3% in the 3rd quarter. Clearline Capital LP now owns 1,539,578 shares of the company’s stock valued at $5,927,000 after acquiring an additional 708,794 shares in the last quarter. Whetstone Capital Advisors LLC bought a new position in Accolade in the 3rd quarter valued at about $3,842,000. Finally, Point72 Asset Management L.P. bought a new position in Accolade in the 3rd quarter valued at about $2,378,000. 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.