Accolade (NASDAQ:ACCD) Receives Market Perform Rating from Leerink Partners

Accolade (NASDAQ:ACCD)‘s stock had its “market perform” rating reaffirmed by equities research analysts at Leerink Partners in a report issued on Wednesday,Benzinga reports.

A number of other research firms have also recently issued reports on ACCD. Needham & Company LLC reiterated a “buy” rating and issued a $8.00 target price on shares of Accolade in a research note on Monday, October 7th. Barclays decreased their price target on Accolade from $5.50 to $5.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 9th. Canaccord Genuity Group dropped their price objective on Accolade from $13.00 to $7.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. Morgan Stanley reduced their target price on shares of Accolade from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. Finally, Stephens cut their price objective on shares of Accolade from $10.00 to $8.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Accolade presently has an average rating of “Moderate Buy” and a consensus target price of $8.96.

Accolade Stock Up 104.8 %

Shares of NASDAQ ACCD traded up $3.51 during mid-day trading on Wednesday, reaching $6.86. The company had a trading volume of 14,829,039 shares, compared to its average volume of 3,647,770. The stock has a market capitalization of $552.48 million, a PE ratio of -6.66 and a beta of 2.08. Accolade has a twelve month low of $3.08 and a twelve month high of $15.36. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.72 and a current ratio of 2.72. The stock’s 50 day moving average is $3.52 and its 200-day moving average is $3.79.

Accolade (NASDAQ:ACCD) last announced its quarterly earnings results on Tuesday, October 8th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.14. The company had revenue of $106.40 million during the quarter, compared to analysts’ expectations of $104.87 million. Accolade had a negative return on equity of 18.43% and a negative net margin of 18.16%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.43) earnings per share. As a group, equities analysts anticipate that Accolade will post -0.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Accolade

In other Accolade news, CEO Rajeev Singh sold 13,357 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $3.60, for a total transaction of $48,085.20. Following the completion of the sale, the chief executive officer now owns 814,316 shares of the company’s stock, valued at approximately $2,931,537.60. This represents a 1.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders sold 42,006 shares of company stock worth $149,228. 8.20% of the stock is currently owned by insiders.

Institutional Trading of Accolade

Hedge funds have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Accolade by 22.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,373 shares of the company’s stock valued at $73,000 after acquiring an additional 3,789 shares during the period. Rhumbline Advisers grew its stake in Accolade by 22.5% in the 2nd quarter. Rhumbline Advisers now owns 124,351 shares of the company’s stock valued at $445,000 after buying an additional 22,857 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Accolade during the second quarter worth $1,229,000. Blair William & Co. IL grew its position in shares of Accolade by 73.1% in the second quarter. Blair William & Co. IL now owns 79,834 shares of the company’s stock valued at $286,000 after purchasing an additional 33,725 shares in the last quarter. Finally, XTX Topco Ltd lifted its holdings in Accolade by 64.4% during the 2nd quarter. XTX Topco Ltd now owns 49,454 shares of the company’s stock worth $177,000 after purchasing an additional 19,369 shares in the last quarter. 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 intelligent technology and multimodal support from a team of advocates and clinicians, including registered nurses, physician medical directors, pharmacists, behavioral health specialists, women’s health specialists, case management specialists, expert medical opinion providers, and primary care physicians.