Accolade (NASDAQ:ACCD) PT Lowered to $13.00 at Guggenheim

Accolade (NASDAQ:ACCD) had its target price reduced by equities researchers at Guggenheim from $17.00 to $13.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Guggenheim’s price objective indicates a potential upside of 81.82% from the stock’s previous close.

A number of other research firms have also weighed in on ACCD. Morgan Stanley reduced their price objective on Accolade from $13.00 to $12.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. Truist Financial cut their price objective on Accolade from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Friday, April 26th. Barclays decreased their price target on shares of Accolade from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. Stifel Nicolaus lowered their target price on shares of Accolade from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Finally, Wells Fargo & Company cut their price target on Accolade from $12.00 to $10.00 and set an “equal weight” rating for the company in a report on Tuesday, April 30th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Accolade has a consensus rating of “Moderate Buy” and an average price target of $14.14.

Accolade Stock Performance

Shares of NASDAQ ACCD traded down $0.29 during midday trading on Wednesday, reaching $7.15. The company had a trading volume of 287,206 shares, compared to its average volume of 733,334. Accolade has a 1 year low of $6.33 and a 1 year high of $15.36. The business’s 50-day simple moving average is $9.17 and its 200 day simple moving average is $9.96. The company has a current ratio of 2.64, a quick ratio of 2.64 and a debt-to-equity ratio of 0.47. The stock has a market cap of $560.27 million, a P/E ratio of -5.35 and a beta of 2.15.

Accolade (NASDAQ:ACCD) last released its earnings results on Thursday, April 25th. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.01. The firm had revenue of $124.80 million during the quarter, compared to the consensus estimate of $123.91 million. Accolade had a negative return on equity of 22.53% and a negative net margin of 24.09%. The company’s revenue was up 26.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.42) earnings per share. On average, analysts forecast that Accolade will post -1.24 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. Nordea Investment Management AB lifted its stake in Accolade by 1.4% in the third quarter. Nordea Investment Management AB now owns 106,764 shares of the company’s stock worth $1,148,000 after acquiring an additional 1,423 shares during the last quarter. Swiss National Bank grew its stake in shares of Accolade by 1.7% during the first quarter. Swiss National Bank now owns 137,500 shares of the company’s stock worth $1,441,000 after purchasing an additional 2,300 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in Accolade in the third quarter valued at $28,000. Barclays PLC raised its stake in Accolade by 10.8% in the third quarter. Barclays PLC now owns 37,630 shares of the company’s stock valued at $398,000 after buying an additional 3,671 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Accolade by 39.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,584 shares of the company’s stock worth $199,000 after buying an additional 4,656 shares during the last quarter. Hedge funds and other institutional investors own 84.99% of the company’s stock.

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.