Brokerages Set Accolade, Inc. (NASDAQ:ACCD) Target Price at $14.57

Accolade, Inc. (NASDAQ:ACCD) has received a consensus rating of “Moderate Buy” from the seventeen ratings firms that are covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $14.14.

A number of research firms have recently weighed in on ACCD. Needham & Company LLC lowered their target price on Accolade from $17.00 to $13.00 and set a “buy” rating for the company in a research note on Friday, April 26th. Leerink Partnrs reissued an “outperform” rating on shares of Accolade in a research note on Monday, February 26th. Barclays decreased their target price 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 cut their price target on shares of Accolade from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Finally, Guggenheim lowered their price objective on shares of Accolade from $17.00 to $13.00 and set a “buy” rating for the company in a research note on Wednesday.

Institutional Investors Weigh In On Accolade

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

Accolade Stock Performance

NASDAQ:ACCD opened at $7.12 on Thursday. Accolade has a 1-year low of $6.33 and a 1-year high of $15.36. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.64 and a quick ratio of 2.64. The business has a 50 day moving average of $9.10 and a 200 day moving average of $9.94. The company has a market capitalization of $557.92 million, a price-to-earnings ratio of -5.35 and a beta of 2.15.

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, beating analysts’ consensus estimates of ($0.11) by $0.01. The company had revenue of $124.80 million during the quarter, compared to analysts’ expectations of $123.91 million. Accolade had a negative net margin of 24.09% and a negative return on equity of 22.53%. The firm’s revenue was up 26.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.42) EPS. On average, sell-side analysts predict that Accolade will post -1.24 earnings per share for the current fiscal year.

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.