Stifel Nicolaus Lowers Accolade (NASDAQ:ACCD) Price Target to $13.00

Accolade (NASDAQ:ACCD) had its target price cut by analysts at Stifel Nicolaus from $15.00 to $13.00 in a research report issued on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price target would indicate a potential upside of 39.04% from the stock’s current price.

Several other equities analysts have also commented on the company. Raymond James upped their price target on Accolade from $12.00 to $16.00 and gave the company an “outperform” rating in a research note on Tuesday, January 9th. Leerink Partnrs reiterated an “outperform” rating on shares of Accolade in a report on Monday, February 26th. Truist Financial increased their price objective on Accolade from $15.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, January 9th. Needham & Company LLC reiterated a “buy” rating and issued a $17.00 price objective on shares of Accolade in a report on Friday, January 19th. Finally, Barclays started coverage on Accolade in a report on Wednesday, January 3rd. They issued an “equal weight” rating and a $13.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Accolade has an average rating of “Moderate Buy” and an average target price of $15.53.

Accolade Stock Up 1.5 %

Shares of ACCD opened at $9.35 on Monday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.35 and a current ratio of 2.35. Accolade has a one year low of $6.33 and a one year high of $17.00. The stock has a market capitalization of $723.78 million, a price-to-earnings ratio of -5.67 and a beta of 2.08. The stock has a 50 day moving average price of $9.90 and a 200 day moving average price of $9.92.

Institutional Trading of Accolade

A number of hedge funds have recently added to or reduced their stakes in the stock. ARK Investment Management LLC lifted its position in Accolade by 12.6% during the 4th quarter. ARK Investment Management LLC now owns 6,805,208 shares of the company’s stock worth $81,731,000 after acquiring an additional 762,685 shares during the period. Vanguard Group Inc. increased its stake in Accolade by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 5,283,858 shares of the company’s stock valued at $55,903,000 after purchasing an additional 157,464 shares in the last quarter. Rock Springs Capital Management LP increased its stake in Accolade by 3.3% in the 3rd quarter. Rock Springs Capital Management LP now owns 2,913,000 shares of the company’s stock valued at $30,820,000 after purchasing an additional 93,000 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Accolade by 2.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,921,676 shares of the company’s stock valued at $23,083,000 after purchasing an additional 50,311 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in Accolade by 111.1% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,798,993 shares of the company’s stock valued at $19,033,000 after purchasing an additional 946,970 shares in the last quarter. 84.99% of the stock is owned by institutional investors and hedge funds.

About Accolade

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 technology and multimodal support from a team of health assistants and clinicians, including registered nurses, physician medical directors, pharmacists, behavioral health specialists, women's health specialists, case management specialists, expert medical opinion providers, and virtual primary care physicians.