Morgan Stanley Trims Accolade (NASDAQ:ACCD) Target Price to $56.00

Accolade (NASDAQ:ACCD) had its price objective reduced by Morgan Stanley from $68.00 to $56.00 in a research note issued to investors on Monday, Price Targets.com reports. They currently have an overweight rating on the stock.

Several other equities analysts have also recently issued reports on ACCD. Piper Sandler lowered their target price on shares of Accolade from $60.00 to $45.00 and set an overweight rating on the stock in a research note on Friday, October 8th. Credit Suisse Group reduced their target price on shares of Accolade from $63.00 to $62.00 and set an outperform rating for the company in a report on Friday, October 8th. Robert W. Baird raised shares of Accolade from a neutral rating to an outperform rating and reduced their target price for the stock from $58.00 to $54.00 in a report on Friday, September 17th. They noted that the move was a valuation call. Berenberg Bank reissued a buy rating and issued a $61.00 target price on shares of Accolade in a report on Friday, October 8th. Finally, Stifel Nicolaus increased their target price on shares of Accolade from $54.00 to $64.00 and gave the stock a buy rating in a report on Friday, July 9th. One analyst has rated the stock with a sell rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Buy and an average price target of $54.54.

Shares of ACCD opened at $38.39 on Monday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.67 and a current ratio of 1.67. Accolade has a fifty-two week low of $32.87 and a fifty-two week high of $65.25. The firm has a 50 day moving average price of $44.26 and a 200-day moving average price of $47.23. The firm has a market cap of $2.56 billion, a price-to-earnings ratio of -16.27 and a beta of 1.76.

Accolade (NASDAQ:ACCD) last issued its quarterly earnings data on Wednesday, October 6th. The company reported ($0.97) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.53) by ($0.44). Accolade had a negative net margin of 57.44% and a negative return on equity of 18.95%. The company had revenue of $73.29 million for the quarter, compared to analysts’ expectations of $70.37 million. During the same period in the previous year, the firm posted ($0.47) earnings per share. The firm’s revenue for the quarter was up 99.2% compared to the same quarter last year. As a group, equities research analysts predict that Accolade will post -1.88 earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of ACCD. Rhumbline Advisers boosted its position in shares of Accolade by 135.1% during the 1st quarter. Rhumbline Advisers now owns 34,871 shares of the company’s stock valued at $1,582,000 after acquiring an additional 20,038 shares during the last quarter. Swiss National Bank boosted its position in shares of Accolade by 13.3% during the 1st quarter. Swiss National Bank now owns 31,600 shares of the company’s stock valued at $1,434,000 after acquiring an additional 3,700 shares during the last quarter. BlackRock Inc. boosted its position in shares of Accolade by 58.7% during the 1st quarter. BlackRock Inc. now owns 1,924,158 shares of the company’s stock valued at $87,297,000 after acquiring an additional 711,660 shares during the last quarter. New York State Common Retirement Fund boosted its position in shares of Accolade by 117.4% during the 1st quarter. New York State Common Retirement Fund now owns 27,388 shares of the company’s stock valued at $1,243,000 after acquiring an additional 14,788 shares during the last quarter. Finally, UBS Group AG boosted its position in shares of Accolade by 27.0% during the 1st quarter. UBS Group AG now owns 48,840 shares of the company’s stock valued at $2,216,000 after acquiring an additional 10,390 shares during the last quarter. Hedge funds and other institutional investors own 67.98% of the company’s stock.

Accolade Company Profile

Accolade, Inc develops and provides 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 nurses, physician medical directors, and behavioral health specialists.

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Analyst Recommendations for Accolade (NASDAQ:ACCD)

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