Accolade (NASDAQ:ACCD) Given New $13.00 Price Target at Guggenheim

Accolade (NASDAQ:ACCD) had its price objective reduced by Guggenheim from $17.00 to $13.00 in a report published on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts have also issued research reports about the stock. William Blair restated an outperform rating on shares of Accolade in a research note on Tuesday, January 9th. SVB Leerink started coverage on shares of Accolade in a report on Monday, February 26th. They issued an outperform rating and a $16.00 price objective for the company. Truist Financial dropped their target price on Accolade from $16.00 to $14.00 and set a buy rating on the stock in a report on Friday, April 26th. Raymond James upped their price objective on Accolade from $12.00 to $16.00 and gave the company an outperform rating in a report on Tuesday, January 9th. Finally, Barclays dropped their price target on shares of Accolade from $13.00 to $11.00 and set an equal weight rating on the stock in a research report on Friday, April 26th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $14.14.

Accolade Price Performance

ACCD opened at $7.12 on Wednesday. The company has a quick ratio of 2.64, a current ratio of 2.64 and a debt-to-equity ratio of 0.47. The company’s 50-day moving average price is $9.10 and its 200 day moving average price is $9.94. Accolade has a fifty-two week low of $6.33 and a fifty-two week high of $15.36. The firm has a market cap 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 results on Thursday, April 25th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.01. The business had revenue of $124.80 million for the quarter, compared to the consensus estimate of $123.91 million. Accolade had a negative return on equity of 22.53% and a negative net margin of 24.09%. The business’s revenue was up 26.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.42) EPS. As a group, sell-side analysts expect that Accolade will post -1.24 earnings per share for the current year.

Institutional Trading of Accolade

Several hedge funds have recently added to or reduced their stakes in the business. Nordea Investment Management AB lifted its holdings in shares of Accolade by 1.4% during the third quarter. Nordea Investment Management AB now owns 106,764 shares of the company’s stock worth $1,148,000 after buying an additional 1,423 shares during the last quarter. HighTower Advisors LLC bought a new stake in Accolade in the 3rd quarter valued at $2,354,000. Vanguard Group Inc. grew its position in Accolade by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 5,283,858 shares of the company’s stock worth $55,903,000 after purchasing an additional 157,464 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Accolade by 111.1% during 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 during the period. Finally, Olympiad Research LP acquired a new position in shares of Accolade during the third quarter valued at about $171,000. Institutional investors 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.