Accolade, Inc. (NASDAQ:ACCD) Receives $9.04 Consensus Price Target from Brokerages

Shares of Accolade, Inc. (NASDAQ:ACCD) have been assigned an average recommendation of “Moderate Buy” from the fifteen analysts that are currently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $9.04.

ACCD has been the subject of a number of analyst reports. Stephens reduced their price objective on Accolade from $10.00 to $8.00 and set an “overweight” rating for the company in a research report on Wednesday, October 9th. Needham & Company LLC restated a “buy” rating and set a $8.00 price target on shares of Accolade in a research report on Monday, October 7th. Barclays cut their price objective 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. Canaccord Genuity Group decreased their target price on shares of Accolade from $13.00 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Finally, Truist Financial cut their price target on Accolade from $9.00 to $7.50 and set a “buy” rating on the stock in a report on Wednesday, October 9th.

Accolade Stock Down 0.5 %

ACCD stock opened at $3.75 on Tuesday. The firm has a fifty day moving average price of $3.61 and a two-hundred day moving average price of $4.49. 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 has a 1-year low of $3.08 and a 1-year high of $15.36. The firm has a market cap of $302.01 million, a price-to-earnings ratio of -3.64 and a beta of 2.02.

Accolade (NASDAQ:ACCD) last released its quarterly earnings data on Tuesday, October 8th. The company reported ($0.30) earnings per share 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 for the quarter, compared to analyst estimates of $104.87 million. During the same quarter in the prior year, the business earned ($0.43) earnings per share. Accolade’s quarterly revenue was up 9.8% on a year-over-year basis. Research analysts predict that Accolade will post -0.92 EPS for the current year.

Hedge Funds Weigh In On Accolade

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mission Creek Capital Partners Inc. acquired a new stake in shares of Accolade in the third quarter worth $38,000. SG Americas Securities LLC purchased a new stake in Accolade in the 2nd quarter worth about $43,000. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in Accolade during the 3rd quarter valued at about $46,000. Wolverine Trading LLC acquired a new position in shares of Accolade in the 3rd quarter valued at about $51,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Accolade by 22.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,373 shares of the company’s stock worth $73,000 after purchasing an additional 3,789 shares in the last quarter. 84.99% of the stock is currently owned by hedge funds and other 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 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.