Accolade (NASDAQ:ACCD) Announces Earnings Results

Accolade (NASDAQ:ACCD) announced its quarterly earnings data on Sunday. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.99, MarketWatch Earnings reports. The firm had revenue of $83.45 million during the quarter, compared to the consensus estimate of $75.89 million. Accolade had a negative return on equity of 18.95% and a negative net margin of 57.44%. The business’s revenue for the quarter was up 117.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.32) EPS.

NASDAQ:ACCD opened at $19.14 on Tuesday. The business’s 50-day moving average price is $28.80 and its two-hundred day moving average price is $39.78. Accolade has a twelve month low of $18.72 and a twelve month high of $59.93. The stock has a market cap of $1.28 billion, a P/E ratio of -8.11 and a beta of 1.82. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.38.

Several large investors have recently added to or reduced their stakes in the business. UBS Group AG increased its position in shares of Accolade by 7.1% during the 3rd quarter. UBS Group AG now owns 29,950 shares of the company’s stock valued at $1,263,000 after purchasing an additional 1,994 shares during the last quarter. Royal Bank of Canada increased its position in shares of Accolade by 45.5% during the 3rd quarter. Royal Bank of Canada now owns 6,484 shares of the company’s stock valued at $273,000 after purchasing an additional 2,029 shares during the last quarter. Invesco Ltd. increased its position in shares of Accolade by 25.5% during the 3rd quarter. Invesco Ltd. now owns 21,314 shares of the company’s stock valued at $899,000 after purchasing an additional 4,327 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Accolade by 42.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 212,210 shares of the company’s stock valued at $8,950,000 after purchasing an additional 62,889 shares during the last quarter. Finally, Morgan Stanley increased its position in shares of Accolade by 91.0% during the 2nd quarter. Morgan Stanley now owns 613,564 shares of the company’s stock valued at $33,323,000 after purchasing an additional 292,317 shares during the last quarter. 67.78% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts have issued reports on the company. Robert W. Baird upgraded Accolade from a “neutral” rating to an “outperform” rating and reduced their price objective for the company from $58.00 to $54.00 in a research note on Friday, September 17th. They noted that the move was a valuation call. Needham & Company LLC reduced their price objective on Accolade from $56.00 to $33.00 and set a “buy” rating for the company in a research note on Tuesday. Piper Sandler cut their price target on Accolade from $60.00 to $45.00 and set an “overweight” rating for the company in a research note on Friday, October 8th. Credit Suisse Group cut their price target on Accolade from $63.00 to $62.00 and set an “outperform” rating for the company in a research note on Friday, October 8th. Finally, cut their price target on Accolade from $62.00 to $52.00 and set a “buy” rating for the company in a research note on Friday, October 8th. One research analyst has rated the stock with a sell rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $49.73.

Accolade Company Profile

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.

Featured Article: Price-Sales Ratio

Earnings History for Accolade (NASDAQ:ACCD)

Receive News & Ratings for Accolade Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Accolade and related companies with MarketBeat.com's FREE daily email newsletter.