Accolade (NASDAQ:ACCD) Issues Earnings Results

Accolade (NASDAQ:ACCD) issued its quarterly earnings data on Friday. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.01, Zacks reports. Accolade had a negative net margin of 18.16% and a negative return on equity of 18.43%.

Accolade Trading Down 0.1 %

NASDAQ:ACCD traded down $0.01 during mid-day trading on Friday, hitting $6.85. The company had a trading volume of 4,500,248 shares, compared to its average volume of 5,402,039. The firm has a market cap of $551.68 million, a P/E ratio of -6.65 and a beta of 2.08. Accolade has a fifty-two week low of $3.08 and a fifty-two week high of $15.21. The business’s fifty day moving average is $3.66 and its two-hundred day moving average is $3.83. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.72 and a current ratio of 2.72.

Insider Activity

In related news, CEO Rajeev Singh sold 13,357 shares of the business’s 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 transaction, the chief executive officer now owns 814,316 shares in the company, valued at approximately $2,931,537.60. The trade was a 1.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 40,881 shares of company stock valued at $144,987 in the last ninety days. 8.20% of the stock is owned by insiders.

Analysts Set New Price Targets

ACCD has been the subject of a number of research reports. Leerink Partners restated a “market perform” rating on shares of Accolade in a research note on Wednesday. Barclays lowered their price objective on shares of Accolade from $5.50 to $5.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 9th. Leerink Partnrs lowered shares of Accolade from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Morgan Stanley lowered their price target on shares of Accolade from $6.00 to $5.00 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Finally, Wells Fargo & Company reduced their price objective on Accolade from $7.00 to $6.00 and set an “equal weight” rating on the stock in a report on Friday, October 11th. Ten research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Accolade has a consensus rating of “Hold” and a consensus price target of $7.55.

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.