Accolade (NASDAQ:ACCD) Downgraded to “Hold” Rating by Stephens

Accolade (NASDAQ:ACCD) was downgraded by equities researchers at Stephens from a “strong-buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

Other equities research analysts also recently issued reports about the company. Truist Financial downgraded Accolade from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Raymond James reiterated a “market perform” rating on shares of Accolade in a report on Thursday, January 9th. Barclays dropped their target price on shares of Accolade from $5.50 to $5.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 9th. Stifel Nicolaus restated a “hold” rating and issued a $7.03 price target (down previously from $8.00) on shares of Accolade in a research report on Thursday, January 9th. Finally, Morgan Stanley lowered their price objective on shares of Accolade from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. Twelve research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Accolade has an average rating of “Hold” and a consensus price target of $7.55.

Accolade Stock Up 0.1 %

NASDAQ ACCD opened at $6.84 on Monday. Accolade has a 12 month low of $3.08 and a 12 month high of $13.93. The company has a market capitalization of $550.87 million, a P/E ratio of -6.64 and a beta of 2.08. The company’s 50 day simple moving average is $3.88 and its 200 day simple moving average is $3.83. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.72 and a quick ratio of 2.72.

Accolade (NASDAQ:ACCD) last posted its quarterly earnings results on Friday, January 10th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.01. Accolade had a negative return on equity of 18.43% and a negative net margin of 18.16%. Equities research analysts expect that Accolade will post -0.92 earnings per share for the current fiscal year.

Insider Transactions at Accolade

In other Accolade 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 value 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last ninety days, insiders have sold 41,962 shares of company stock valued at $152,424. 8.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ACCD. Centiva Capital LP raised its holdings in Accolade by 5.8% during the third quarter. Centiva Capital LP now owns 59,660 shares of the company’s stock valued at $230,000 after buying an additional 3,264 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Accolade by 13.3% in the second quarter. The Manufacturers Life Insurance Company now owns 29,160 shares of the company’s stock valued at $104,000 after purchasing an additional 3,416 shares during the period. Mission Creek Capital Partners Inc. bought a new position in shares of Accolade in the third quarter valued at approximately $38,000. Inspire Investing LLC lifted 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 buying an additional 10,658 shares during the last quarter. Finally, Pallas Capital Advisors LLC bought a new stake in shares of Accolade during the 4th quarter worth $38,000. Institutional investors 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.