Stephens Trims Accolade (NASDAQ:ACCD) Target Price to $8.00

Accolade (NASDAQ:ACCD) had its target price reduced by Stephens from $10.00 to $8.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have an overweight rating on the stock.

A number of other research analysts have also recently commented on the stock. Stifel Nicolaus decreased their target price on shares of Accolade from $13.00 to $8.00 and set a buy rating on the stock in a research report on Friday, June 28th. Morgan Stanley cut their target price on shares of Accolade from $12.00 to $6.00 and set an equal weight rating on the stock in a research note on Friday, June 28th. Needham & Company LLC restated a buy rating and set a $8.00 target price on shares of Accolade in a research note on Monday, October 7th. Barclays dropped their price target on shares of Accolade from $5.50 to $5.00 and set an equal weight rating on the stock in a research note on Wednesday. Finally, Guggenheim decreased their price objective on Accolade from $13.00 to $6.00 and set a buy rating for the company in a report on Friday, June 28th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $9.04.

Accolade Price Performance

Shares of NASDAQ ACCD opened at $3.79 on Wednesday. The firm has a market cap of $305.25 million, a PE ratio of -3.68 and a beta of 1.99. The firm has a fifty day moving average of $4.01 and a 200 day moving average of $5.77. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.80 and a current ratio of 2.72. Accolade has a one year low of $3.35 and a one year high of $15.36.

Accolade (NASDAQ:ACCD) last released its earnings results on Tuesday, October 8th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.14. Accolade had a negative net margin of 18.16% and a negative return on equity of 18.43%. The business had revenue of $106.40 million during the quarter, compared to analyst estimates of $104.87 million. During the same quarter in the prior year, the firm earned ($0.43) earnings per share. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, research analysts predict that Accolade will post -1.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Bellevue Group AG lifted its holdings in shares of Accolade by 6.6% in the first quarter. Bellevue Group AG now owns 4,804,514 shares of the company’s stock valued at $50,351,000 after buying an additional 297,110 shares during the period. Clearline Capital LP purchased a new stake in shares of Accolade during the second quarter valued at $2,974,000. Acadian Asset Management LLC purchased a new stake in shares of Accolade during the second quarter valued at $1,229,000. Cubist Systematic Strategies LLC lifted its holdings in shares of Accolade by 273.4% during the second quarter. Cubist Systematic Strategies LLC now owns 260,040 shares of the company’s stock valued at $931,000 after purchasing an additional 190,396 shares during the last quarter. Finally, Algert Global LLC raised its position in Accolade by 153.5% during the second quarter. Algert Global LLC now owns 354,119 shares of the company’s stock valued at $1,268,000 after buying an additional 214,441 shares during the period. Institutional investors and hedge funds own 84.99% of the company’s stock.

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.