William Blair Downgrades Accolade (NASDAQ:ACCD) to Hold

Accolade (NASDAQ:ACCD) was downgraded by equities research analysts at William Blair from a “strong-buy” rating to a “hold” rating in a research note issued on Wednesday,Zacks.com reports.

Several other brokerages also recently weighed in on ACCD. Barclays dropped their target price on shares of Accolade from $5.50 to $5.00 and set an “equal weight” rating for the company in a report on Wednesday, October 9th. Leerink Partnrs cut Accolade from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Raymond James reissued a “market perform” rating on shares of Accolade in a report on Thursday. Stifel Nicolaus reaffirmed a “hold” rating and set a $7.03 price objective (down from $8.00) on shares of Accolade in a report on Thursday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Accolade in a research report on Wednesday. Ten investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $7.55.

Accolade Trading Up 104.8 %

Shares of NASDAQ:ACCD opened at $6.86 on Wednesday. The stock has a 50 day moving average of $3.66 and a 200 day moving average of $3.83. The company has a market cap of $552.48 million, a PE ratio of -6.66 and a beta of 2.08. Accolade has a 12-month low of $3.08 and a 12-month high of $15.36. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 0.49.

Accolade (NASDAQ:ACCD) last posted 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 business had revenue of $106.40 million during the quarter, compared to analyst estimates of $104.87 million. Accolade had a negative net margin of 18.16% and a negative return on equity of 18.43%. The company’s revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the business posted ($0.43) earnings per share. As a group, equities research analysts expect that Accolade will post -0.92 EPS for the current year.

Insider Transactions at Accolade

In other Accolade news, CEO Rajeev Singh sold 13,357 shares of Accolade stock in a transaction on Tuesday, December 3rd. The stock was 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 directly owns 814,316 shares of the company’s stock, valued at $2,931,537.60. The trade was a 1.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders have sold 40,881 shares of company stock worth $144,987. Insiders own 8.20% of the company’s stock.

Institutional Trading of Accolade

Institutional investors and hedge funds have recently made changes to their positions in the company. Mission Creek Capital Partners Inc. purchased a new position in Accolade during the 3rd quarter valued at about $38,000. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in shares of Accolade during the third quarter valued at approximately $46,000. Wolverine Trading LLC purchased a new position in Accolade during the third quarter valued at approximately $51,000. Point72 Asia Singapore Pte. Ltd. raised its stake in Accolade by 1,144.1% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 20,913 shares of the company’s stock worth $81,000 after buying an additional 19,232 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new stake in Accolade during the third quarter worth $96,000. 84.99% of the stock is currently owned by 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 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.