Accolade, Inc. (NASDAQ:ACCD) Receives Average Recommendation of “Moderate Buy” from Brokerages

Accolade, Inc. (NASDAQ:ACCD) has earned a consensus rating of “Moderate Buy” from the fifteen ratings firms that are covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $9.04.

Several research analysts recently issued reports on ACCD shares. Wells Fargo & Company decreased their price target on shares of Accolade from $7.00 to $6.00 and set an “equal weight” rating for the company in a research note on Friday. Needham & Company LLC reiterated a “buy” rating and issued a $8.00 price target on shares of Accolade in a research note on Monday, October 7th. Canaccord Genuity Group decreased their price target on shares of Accolade from $13.00 to $7.00 and set a “buy” rating for the company in a research note on Wednesday. Guggenheim decreased their price target 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. Finally, Truist Financial reduced their price objective on shares of Accolade from $9.00 to $7.50 and set a “buy” rating for the company in a research note on Wednesday.

Accolade Trading Down 2.1 %

NASDAQ:ACCD opened at $3.79 on Monday. The company has a 50-day moving average price of $4.01 and a 200-day moving average price of $5.77. Accolade has a 12 month low of $3.35 and a 12 month high of $15.36. The company has a current ratio of 2.72, a quick ratio of 2.80 and a debt-to-equity ratio of 0.49. The stock has a market cap of $305.25 million, a price-to-earnings ratio of -3.68 and a beta of 1.99.

Accolade (NASDAQ:ACCD) last posted its earnings results on Tuesday, October 8th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate 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 firm had revenue of $106.40 million during the quarter, compared to analysts’ expectations of $104.87 million. During the same period last year, the company posted ($0.43) EPS. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. Equities analysts predict that Accolade will post -1.09 EPS for the current year.

Institutional Trading of Accolade

A number of large investors have recently made changes to their positions in the stock. Inspire Investing LLC grew its stake in shares of Accolade by 11.1% in the third quarter. Inspire Investing LLC now owns 106,679 shares of the company’s stock worth $411,000 after acquiring an additional 10,658 shares during the period. Requisite Capital Management LLC purchased a new position in shares of Accolade in the third quarter worth approximately $456,000. SG Americas Securities LLC boosted its holdings in shares of Accolade by 150.0% in the third quarter. SG Americas Securities LLC now owns 29,749 shares of the company’s stock worth $115,000 after buying an additional 17,850 shares during the last quarter. Clearline Capital LP purchased a new position in shares of Accolade in the second quarter worth approximately $2,974,000. Finally, Algert Global LLC boosted its holdings in shares of Accolade by 153.5% in the second quarter. Algert Global LLC now owns 354,119 shares of the company’s stock worth $1,268,000 after buying an additional 214,441 shares during the last quarter. 84.99% of the stock is currently owned by institutional investors.

About Accolade

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.