Accolade (NASDAQ:ACCD) Price Target Cut to $16.00 by Analysts at Canaccord Genuity Group

Accolade (NASDAQ:ACCD) had its target price reduced by stock analysts at Canaccord Genuity Group from $18.00 to $16.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price points to a potential upside of 74.10% from the stock’s current price.

Other equities analysts have also recently issued research reports about the company. Stifel Nicolaus dropped their target price on Accolade from $15.00 to $13.00 and set a “buy” rating for the company in a report on Monday. Leerink Partnrs reaffirmed an “outperform” rating on shares of Accolade in a research report on Monday, February 26th. Truist Financial lifted their target price on Accolade from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Tuesday, January 9th. Needham & Company LLC reduced their price target on Accolade from $17.00 to $13.00 and set a “buy” rating for the company in a research report on Friday. Finally, Wells Fargo & Company boosted their target price on Accolade from $10.00 to $12.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 9th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $15.07.

Accolade Stock Down 2.2 %

ACCD stock opened at $9.19 on Friday. Accolade has a fifty-two week low of $6.33 and a fifty-two week high of $17.00. The business’s 50-day moving average is $9.75 and its two-hundred day moving average is $9.92. 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 company has a market cap of $711.40 million, a price-to-earnings ratio of -5.57 and a beta of 2.08.

Accolade (NASDAQ:ACCD) last posted its quarterly earnings data on Thursday, April 25th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.01. Accolade had a negative return on equity of 27.27% and a negative net margin of 31.59%. The firm had revenue of $124.80 million for the quarter, compared to the consensus estimate of $123.91 million. During the same quarter last year, the company earned ($0.42) earnings per share. The business’s revenue for the quarter was up 26.1% compared to the same quarter last year. As a group, analysts forecast that Accolade will post -1.33 earnings per share for the current year.

Institutional Trading of Accolade

Several hedge funds and other institutional investors have recently bought and sold shares of ACCD. Fairman Group LLC bought a new stake in Accolade during the 4th quarter worth approximately $14,139,000. Ieq Capital LLC purchased a new stake in shares of Accolade in the fourth quarter valued at about $13,387,000. Sumitomo Mitsui Trust Holdings Inc. grew its position in Accolade by 111.1% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,798,993 shares of the company’s stock valued at $19,033,000 after buying an additional 946,970 shares during the period. ARK Investment Management LLC boosted its position in shares of Accolade by 12.6% in the fourth quarter. ARK Investment Management LLC now owns 6,805,208 shares of the company’s stock valued at $81,731,000 after acquiring an additional 762,685 shares during the period. Finally, JFG Wealth Management LLC purchased a new position in shares of Accolade during the fourth quarter worth approximately $5,657,000. Institutional investors and hedge funds own 84.99% of the company’s stock.

About Accolade

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.