Accolade (NASDAQ:ACCD) Price Target Lowered to $13.00 at Needham & Company LLC

Accolade (NASDAQ:ACCD) had its target price lowered by Needham & Company LLC from $17.00 to $13.00 in a research report report published on Friday, Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities analysts have also weighed in on ACCD. Stifel Nicolaus reduced their price objective on shares of Accolade from $15.00 to $13.00 and set a buy rating for the company in a research report on Monday, April 22nd. Raymond James raised their price objective on shares of Accolade from $12.00 to $16.00 and gave the company an outperform rating in a research report on Tuesday, January 9th. Truist Financial raised their price objective on shares of Accolade from $15.00 to $16.00 and gave the company a buy rating in a research report on Tuesday, January 9th. William Blair restated an outperform rating on shares of Accolade in a research report on Tuesday, January 9th. Finally, SVB Leerink assumed coverage on shares of Accolade in a research report on Monday, February 26th. They set an outperform rating and a $16.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Accolade presently has an average rating of Moderate Buy and a consensus price target of $14.80.

Accolade Stock Performance

Shares of ACCD opened at $7.89 on Friday. The firm has a 50-day moving average price of $9.66 and a 200 day moving average price of $9.91. The firm has a market capitalization of $610.75 million, a PE ratio of -4.78 and a beta of 2.08. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.48. Accolade has a 52-week low of $6.33 and a 52-week high of $17.00.

Accolade (NASDAQ:ACCD) last announced its earnings results on Thursday, April 25th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. The firm had revenue of $124.80 million during the quarter, compared to analyst estimates of $123.91 million. Accolade had a negative net margin of 31.59% and a negative return on equity of 27.27%. Accolade’s revenue was up 26.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.42) EPS. On average, sell-side analysts anticipate that Accolade will post -1.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ACCD. BluePath Capital Management LLC purchased a new stake in shares of Accolade in the third quarter worth approximately $28,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Accolade in the third quarter worth approximately $28,000. AJOVista LLC purchased a new stake in shares of Accolade in the fourth quarter worth approximately $68,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Accolade in the first quarter worth approximately $87,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Accolade by 84.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,928 shares of the company’s stock worth $126,000 after purchasing an additional 5,455 shares in the last quarter. 84.99% of the stock is currently owned by institutional investors and hedge funds.

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 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.