Brokerages Set Accolade, Inc. (NASDAQ:ACCD) Target Price at $9.04

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

ACCD has been the subject of a number of recent research reports. Needham & Company LLC reissued a “buy” rating and issued a $8.00 price objective on shares of Accolade in a research note on Monday, October 7th. Barclays dropped their price objective on Accolade from $5.50 to $5.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 9th. 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. Canaccord Genuity Group lowered their target price on shares of Accolade from $13.00 to $7.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. Finally, Truist Financial cut their price target on shares of Accolade from $9.00 to $7.50 and set a “buy” rating on the stock in a report on Wednesday, October 9th.

Accolade Price Performance

Shares of ACCD opened at $3.79 on Tuesday. The stock has a market cap of $305.24 million, a P/E ratio of -3.68 and a beta of 2.02. The business’s fifty day moving average is $3.61 and its 200 day moving average is $4.40. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 0.49. Accolade has a 12-month low of $3.08 and a 12-month high of $15.36.

Accolade (NASDAQ:ACCD) last released its quarterly earnings data on Tuesday, October 8th. The company reported ($0.30) earnings per share for the quarter, beating 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 firm had revenue of $106.40 million for the quarter, compared to analyst estimates of $104.87 million. During the same period last year, the firm earned ($0.43) earnings per share. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. Sell-side analysts anticipate that Accolade will post -0.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Mission Creek Capital Partners Inc. bought a new position in Accolade in the 3rd quarter worth approximately $38,000. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in shares of Accolade in the third quarter valued at $46,000. SG Americas Securities LLC bought a new stake in shares of Accolade during the 2nd quarter valued at $43,000. Wolverine Trading LLC purchased a new stake in Accolade during the 3rd quarter worth about $51,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in Accolade by 15.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,540 shares of the company’s stock worth $205,000 after purchasing an additional 2,586 shares during the period. Hedge funds and other institutional investors own 84.99% of the company’s stock.

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 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.