Accolade (NASDAQ:ACCD) Announces Earnings Results, Beats Expectations By $0.03 EPS

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Accolade (NASDAQ:ACCD) issued its quarterly earnings data on Wednesday. The company reported ($0.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.03, MarketWatch Earnings reports. The firm had revenue of $38.44 million for the quarter, compared to the consensus estimate of $36.20 million. The business’s quarterly revenue was up 29.7% on a year-over-year basis.

Shares of ACCD stock traded up $2.63 during trading on Friday, hitting $49.55. The company’s stock had a trading volume of 137,732 shares, compared to its average volume of 455,400. The business’s fifty day moving average is $50.39. Accolade has a 52 week low of $28.68 and a 52 week high of $65.25.

ACCD has been the topic of several recent research reports. BTIG Research initiated coverage on Accolade in a report on Wednesday. They set a “buy” rating and a $55.00 target price on the stock. DA Davidson lifted their target price on Accolade from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, October 15th. Canaccord Genuity began coverage on Accolade in a research note on Tuesday, December 8th. They issued a “buy” rating and a $59.00 price objective on the stock. Stifel Nicolaus began coverage on Accolade in a research note on Monday, November 16th. They set a “buy” rating and a $48.00 price target on the stock. Finally, Morgan Stanley upped their price target on Accolade from $37.00 to $48.00 and gave the stock an “overweight” rating in a research note on Friday, October 16th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Accolade currently has a consensus rating of “Buy” and an average price target of $50.08.

About Accolade

Accolade, Inc develops and provides technology-enabled solutions that help people 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 with multimodal support from a team of health assistants and clinicians, including nurses, physician medical directors, and behavioral health specialists.

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