Accolade (NASDAQ:ACCD) Posts Quarterly Earnings Results, Misses Expectations By $0.44 EPS

Accolade (NASDAQ:ACCD) posted its quarterly earnings data on Thursday. The company reported ($0.97) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.44), MarketWatch Earnings reports. Accolade had a negative return on equity of 18.32% and a negative net margin of 44.02%. The company had revenue of $73.29 million for the quarter, compared to analysts’ expectations of $70.37 million. During the same quarter last year, the business posted ($0.47) EPS. The business’s quarterly revenue was up 99.2% on a year-over-year basis. Accolade updated its Q3 2022 guidance to EPS and its FY 2022 guidance to EPS.

Accolade stock traded down $0.17 during mid-day trading on Thursday, hitting $39.93. 523,558 shares of the company traded hands, compared to its average volume of 726,827. Accolade has a one year low of $32.87 and a one year high of $65.25. The stock has a market cap of $2.64 billion, a price-to-earnings ratio of -21.47 and a beta of 1.76. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.71 and a current ratio of 2.71. The stock has a fifty day moving average price of $45.03 and a 200-day moving average price of $47.28.

A number of analysts recently issued reports on ACCD shares. Robert W. Baird upgraded shares of Accolade from a “neutral” rating to an “outperform” rating and decreased their price objective for the stock from $58.00 to $54.00 in a report on Friday, September 17th. They noted that the move was a valuation call. SVB Leerink started coverage on shares of Accolade in a report on Sunday, July 11th. They set a “buy” rating and a $58.00 price objective for the company. Morgan Stanley raised their price objective on shares of Accolade from $60.00 to $68.00 and gave the stock an “overweight” rating in a report on Friday, July 2nd. Zacks Investment Research upgraded shares of Accolade from a “sell” rating to a “hold” rating in a report on Wednesday, September 8th. Finally, Stifel Nicolaus raised their price objective on shares of Accolade from $54.00 to $64.00 and gave the stock a “buy” rating in a report on Friday, July 9th. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $59.38.

A hedge fund recently raised its stake in Accolade stock. Morgan Stanley raised its stake in shares of Accolade, Inc. (NASDAQ:ACCD) by 91.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 613,564 shares of the company’s stock after purchasing an additional 292,317 shares during the quarter. Morgan Stanley owned 0.93% of Accolade worth $33,323,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 67.98% of the stock is currently owned by institutional investors.

About Accolade

Accolade, Inc develops and provides 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 technology and multimodal support from a team of health assistants and clinicians, including nurses, physician medical directors, and behavioral health specialists.

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Earnings History for Accolade (NASDAQ:ACCD)

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