Accolade, Inc. (NASDAQ:ACCD) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Accolade, Inc. (NASDAQ:ACCD) have been given a consensus recommendation of “Moderate Buy” by the fifteen research firms that are currently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $11.65.

A number of research firms recently weighed in on ACCD. Needham & Company LLC reiterated a “buy” rating and issued a $13.00 price objective on shares of Accolade in a research note on Monday, June 24th. Truist Financial reduced their price objective on shares of Accolade from $14.00 to $9.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Guggenheim reduced their price objective on shares of Accolade from $13.00 to $6.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Barclays reduced their price objective on shares of Accolade from $11.00 to $5.50 and set an “equal weight” rating for the company in a research note on Friday, June 28th. Finally, Morgan Stanley reduced their price target on shares of Accolade from $12.00 to $6.00 and set an “equal weight” rating for the company in a research report on Friday, June 28th.

Accolade Trading Down 0.9 %

NASDAQ:ACCD opened at $3.45 on Tuesday. The company has a current ratio of 2.80, a quick ratio of 2.80 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $276.03 million, a PE ratio of -2.97 and a beta of 2.00. The firm’s 50 day moving average is $5.76 and its 200 day moving average is $8.83. Accolade has a 12 month low of $3.35 and a 12 month high of $15.36.

Accolade (NASDAQ:ACCD) last released its quarterly earnings data 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 20.30%. The business had revenue of $110.50 million during the quarter, compared to analyst estimates of $105.22 million. During the same period in the previous year, the business earned ($0.52) EPS. Accolade’s revenue was up 18.6% compared to the same quarter last year. Sell-side analysts expect that Accolade will post -1.17 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Colin Mchugh sold 5,543 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $6.62, for a total value of $36,694.66. Following the completion of the transaction, the chief accounting officer now directly owns 50,177 shares in the company, valued at $332,171.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 17,529 shares of company stock worth $102,466. Corporate insiders own 8.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new position in Accolade in the second quarter worth $43,000. AJOVista LLC purchased a new position in Accolade in the fourth quarter worth $68,000. Allspring Global Investments Holdings LLC bought a new stake in Accolade in the first quarter worth $87,000. GGV Capital LLC lifted its stake in Accolade by 242.9% in the first quarter. GGV Capital LLC now owns 18,063 shares of the company’s stock worth $189,000 after purchasing an additional 12,795 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Accolade by 39.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,584 shares of the company’s stock worth $199,000 after purchasing an additional 4,656 shares during the last quarter. 84.99% of the stock is currently owned by hedge funds and other 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.