Morgan Stanley Has Lowered Expectations for Accolade (NASDAQ:ACCD) Stock Price

Accolade (NASDAQ:ACCD) had its price objective reduced by Morgan Stanley from $6.00 to $5.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have an equal weight rating on the stock.

Several other analysts have also issued reports on ACCD. Barclays cut their target price on Accolade from $5.50 to $5.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 9th. Stephens reduced their target price 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 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, October 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $8.00 price objective on shares of Accolade in a research note on Monday, October 7th. Finally, Wells Fargo & Company lowered their target price on Accolade from $7.00 to $6.00 and set an “equal weight” rating for the company in a research note on Friday, October 11th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Accolade currently has a consensus rating of “Moderate Buy” and an average price target of $8.96.

Accolade Price Performance

Shares of NASDAQ:ACCD opened at $3.40 on Tuesday. The company’s fifty day moving average price is $3.54 and its 200-day moving average price is $4.11. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.72 and a quick ratio of 2.72. The firm has a market capitalization of $273.83 million, a price-to-earnings ratio of -3.30 and a beta of 2.07. Accolade has a one year low of $3.08 and a one year high of $15.36.

Accolade (NASDAQ:ACCD) last released its earnings results on Tuesday, October 8th. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.14. Accolade had a negative return on equity of 18.43% and a negative net margin of 18.16%. The business had revenue of $106.40 million for the quarter, compared to analysts’ expectations of $104.87 million. During the same quarter in the prior year, the firm earned ($0.43) earnings per share. The firm’s revenue was up 9.8% on a year-over-year basis. On average, equities research analysts anticipate that Accolade will post -0.92 earnings per share for the current fiscal year.

Insider Activity at Accolade

In related news, CEO Rajeev Singh sold 13,357 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 814,316 shares of the company’s stock, valued at $2,931,537.60. This represents a 1.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 41,714 shares of company stock worth $149,168 over the last quarter. Corporate insiders own 8.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ACCD. Mission Creek Capital Partners Inc. purchased a new position in shares of Accolade in the 3rd quarter valued at approximately $38,000. SG Americas Securities LLC bought a new position in Accolade in the second quarter worth $43,000. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in Accolade during the third quarter valued at $46,000. Wolverine Trading LLC bought a new stake in shares of Accolade during the 3rd quarter valued at $51,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Accolade by 22.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,373 shares of the company’s stock worth $73,000 after buying an additional 3,789 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.