Accolade (NASDAQ:ACCD) Price Target Lowered to $11.00 at Barclays

Accolade (NASDAQ:ACCD) had its target price cut by Barclays from $13.00 to $11.00 in a research report released on Friday morning, MarketBeat reports. They currently have an equal weight rating on the stock.

Other analysts have also recently issued reports about the stock. Leerink Partnrs restated an outperform rating on shares of Accolade in a research note on Monday, February 26th. William Blair reaffirmed an outperform rating on shares of Accolade in a report on Tuesday, January 9th. SVB Leerink initiated coverage on Accolade in a research report on Monday, February 26th. They set an outperform rating and a $16.00 price target on the stock. Needham & Company LLC reissued a buy rating and issued a $17.00 price objective on shares of Accolade in a report on Friday, January 19th. Finally, Truist Financial raised their target price on Accolade from $15.00 to $16.00 and gave the stock a buy rating in a report on Tuesday, January 9th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Accolade has an average rating of Moderate Buy and a consensus price target of $14.80.

Accolade Stock Performance

Shares of ACCD opened at $8.19 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.35 and a current ratio of 2.35. The stock has a 50-day moving average of $9.58 and a two-hundred day moving average of $9.94. The stock has a market cap of $633.99 million, a P/E ratio of -6.16 and a beta of 2.08. Accolade has a one year low of $6.33 and a one year high of $15.36.

Accolade (NASDAQ:ACCD) last announced its quarterly earnings data on Thursday, April 25th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.01. The firm had revenue of $124.80 million during the quarter, compared to analysts’ expectations of $123.91 million. Accolade had a negative return on equity of 22.57% and a negative net margin of 24.09%. The company’s revenue for the quarter was up 26.1% compared to the same quarter last year. During the same period last year, the business posted ($0.42) earnings per share. As a group, research analysts predict that Accolade will post -1.2 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ACCD. BluePath Capital Management LLC purchased a new stake in shares of Accolade during the third quarter worth about $28,000. DekaBank Deutsche Girozentrale purchased a new position in Accolade in the 3rd quarter valued at about $28,000. AJOVista LLC acquired a new stake in Accolade in the 4th quarter worth about $68,000. Allspring Global Investments Holdings LLC purchased a new stake in Accolade during the 1st quarter worth approximately $87,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Accolade by 84.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,928 shares of the company’s stock valued at $126,000 after acquiring an additional 5,455 shares during the last quarter. 84.99% of the stock is 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.