Accolade (NASDAQ:ACCD) PT Lowered to $5.50 at Barclays

Accolade (NASDAQ:ACCD) had its price target reduced by Barclays from $11.00 to $5.50 in a research note published on Friday, Benzinga reports. Barclays currently has an equal weight rating on the stock.

ACCD has been the topic of several other research reports. Needham & Company LLC reissued a buy rating and issued a $13.00 target price on shares of Accolade in a research note on Monday, June 24th. Wells Fargo & Company lowered their target price on Accolade from $12.00 to $10.00 and set an equal weight rating for the company in a report on Tuesday, April 30th. Truist Financial cut their target price on Accolade from $14.00 to $9.00 and set a buy rating on the stock in a research note on Friday. Canaccord Genuity Group cut their price target on shares of Accolade from $16.00 to $13.00 and set a buy rating on the stock in a report on Friday. Finally, Guggenheim dropped their price target on Accolade from $17.00 to $13.00 and set a buy rating on the stock in a research note on Wednesday, May 8th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Accolade presently has an average rating of Moderate Buy and an average target price of $11.65.

Accolade Price Performance

Shares of NASDAQ:ACCD opened at $3.58 on Friday. The firm’s 50 day moving average price is $7.09 and its 200-day moving average price is $9.66. The stock has a market capitalization of $286.44 million, a PE ratio of -3.09 and a beta of 2.10. Accolade has a twelve month low of $3.52 and a twelve month high of $15.36. The company has a quick ratio of 2.64, a current ratio of 2.64 and a debt-to-equity ratio of 0.47.

Accolade (NASDAQ:ACCD) last released its earnings results on Thursday, June 27th. The company reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.13. Accolade had a negative net margin of 20.62% and a negative return on equity of 20.26%. The company had revenue of $110.50 million for the quarter, compared to analysts’ expectations of $105.22 million. During the same quarter in the previous year, the company earned ($0.52) EPS. Accolade’s revenue for the quarter was up 18.6% on a year-over-year basis. Equities research analysts expect that Accolade will post -1.23 EPS for the current year.

Insider Activity at Accolade

In other Accolade news, CAO Colin Mchugh sold 5,543 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $6.62, for a total value of $36,694.66. Following the completion of the sale, the chief accounting officer now directly owns 50,177 shares of the company’s stock, valued at approximately $332,171.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders sold 14,746 shares of company stock valued at $104,586. 8.30% of the stock is owned by insiders.

Institutional Trading of Accolade

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position 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 worth $55,903,000 after buying an additional 157,464 shares in the last quarter. Certuity LLC purchased a new stake in shares of Accolade in the 4th quarter valued at about $603,000. Charles Schwab Investment Management Inc. lifted its stake in Accolade by 6.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 555,982 shares of the company’s stock valued at $6,677,000 after buying an additional 34,559 shares during the last quarter. Los Angeles Capital Management LLC boosted its stake in Accolade by 233.8% during the 1st quarter. Los Angeles Capital Management LLC now owns 56,149 shares of the company’s stock worth $588,000 after purchasing an additional 39,330 shares during the period. Finally, Knights of Columbus Asset Advisors LLC raised its holdings in shares of Accolade by 100.0% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 54,124 shares of the company’s stock valued at $650,000 after buying an additional 27,062 shares during the last quarter. 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.