Accolade (NASDAQ:ACCD) Releases Earnings Results, Beats Expectations By $0.03 EPS

Accolade (NASDAQ:ACCD) released its earnings results on Thursday. The company reported ($0.32) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.03, MarketWatch Earnings reports. The company had revenue of $38.44 million during the quarter, compared to analysts’ expectations of $36.20 million. Accolade’s quarterly revenue was up 29.7% compared to the same quarter last year. Accolade updated its Q4 2021
After-Hours guidance to EPS and its FY 2021
After-Hours guidance to EPS.

ACCD stock traded up $2.87 during trading on Thursday, reaching $46.92. The stock had a trading volume of 827,549 shares, compared to its average volume of 699,213. Accolade has a 52 week low of $28.68 and a 52 week high of $65.25. The firm’s 50 day moving average is $50.39.

A number of equities research analysts have recently commented on ACCD shares. Morgan Stanley increased their target price on Accolade from $37.00 to $48.00 and gave the stock an “overweight” rating in a research note on Friday, October 16th. Robert W. Baird increased their price objective on Accolade from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, October 15th. BTIG Research initiated coverage on Accolade in a research report on Wednesday. They set a “buy” rating and a $55.00 price objective on the stock. Canaccord Genuity initiated coverage on Accolade in a research report on Tuesday, December 8th. They set a “buy” rating and a $59.00 price objective on the stock. Finally, DA Davidson increased their price objective on Accolade from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, October 15th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Accolade currently has a consensus rating of “Buy” and an average target price of $48.33.

About Accolade

Accolade, Inc develops and provides technology-enabled solutions that help people understand, navigate, and utilize the healthcare system and their workplace benefits in the United States. The company offers a platform with cloud-based technology and with multimodal support from a team of health assistants and clinicians, including nurses, physician medical directors, and behavioral health specialists.

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