Accolade (NASDAQ:ACCD) PT Lowered to $12.00 at Morgan Stanley

Accolade (NASDAQ:ACCD) had its target price lowered by Morgan Stanley from $13.00 to $12.00 in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other equities research analysts also recently issued reports on the company. Wells Fargo & Company increased their price objective on Accolade from $10.00 to $12.00 and gave the stock an equal weight rating in a research report on Tuesday, January 9th. Leerink Partnrs reiterated an outperform rating on shares of Accolade in a research report on Monday, February 26th. Stifel Nicolaus lowered their price objective on Accolade from $15.00 to $13.00 and set a buy rating on the stock in a research report on Monday, April 22nd. Truist Financial lowered their price objective on Accolade from $16.00 to $14.00 and set a buy rating on the stock in a research report on Friday. Finally, Piper Sandler increased their price objective on Accolade from $12.00 to $15.00 and gave the stock an overweight rating in a research report on Tuesday, January 9th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $14.80.

Accolade Trading Down 14.1 %

NASDAQ:ACCD opened at $7.89 on Friday. The company has a market cap of $610.75 million, a P/E ratio of -4.78 and a beta of 2.08. The stock’s fifty day moving average price is $9.66 and its two-hundred day moving average price is $9.91. Accolade has a 1 year low of $6.33 and a 1 year high of $17.00. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.35 and a quick ratio of 2.35.

Accolade (NASDAQ:ACCD) last issued its quarterly earnings data on Thursday, April 25th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company 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 business posted ($0.42) earnings per share. The firm’s revenue was up 26.1% compared to the same quarter last year. As a group, analysts expect that Accolade will post -1.33 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. ARK Investment Management LLC grew its stake in shares of Accolade by 12.6% during the fourth quarter. ARK Investment Management LLC now owns 6,805,208 shares of the company’s stock valued at $81,731,000 after buying an additional 762,685 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Accolade by 3.1% during the third quarter. Vanguard Group Inc. now owns 5,283,858 shares of the company’s stock valued at $55,903,000 after buying an additional 157,464 shares during the last quarter. Rock Springs Capital Management LP grew its stake 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 buying an additional 93,000 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Accolade by 2.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,921,676 shares of the company’s stock valued at $23,083,000 after buying an additional 50,311 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of 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 last quarter. 84.99% of the stock is owned by institutional investors.

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.