Accolade (NASDAQ:ACCD) Given “Hold” Rating at Canaccord Genuity Group

Accolade (NASDAQ:ACCD)‘s stock had its “hold” rating reissued by investment analysts at Canaccord Genuity Group in a research report issued on Wednesday,Benzinga reports.

A number of other equities research analysts also recently weighed in on ACCD. Barclays lowered their target price on Accolade from $5.50 to $5.00 and set an “equal weight” rating for the company in a report on Wednesday, October 9th. Wells Fargo & Company dropped their price objective on shares of Accolade from $7.00 to $6.00 and set an “equal weight” rating on the stock in a report on Friday, October 11th. Truist Financial cut their price objective on shares of Accolade from $9.00 to $7.50 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Accolade in a research note on Wednesday. Finally, Leerink Partners reissued a “market perform” rating on shares of Accolade in a research note on Wednesday. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $7.55.

Accolade Stock Up 104.8 %

Accolade stock opened at $6.86 on Wednesday. The firm has a market cap of $552.48 million, a price-to-earnings ratio of -6.66 and a beta of 2.08. Accolade has a 52-week low of $3.08 and a 52-week high of $15.36. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.72 and a current ratio of 2.72. The firm has a 50 day moving average price of $3.66 and a two-hundred day moving average price of $3.83.

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

Insider Activity

In related news, CEO Rajeev Singh sold 13,357 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $3.60, for a total value of $48,085.20. Following the sale, the chief executive officer now directly owns 814,316 shares in the company, valued at approximately $2,931,537.60. The trade was a 1.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 40,881 shares of company stock valued at $144,987 over the last three months. Corporate insiders own 8.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ACCD. Centiva Capital LP lifted its holdings in Accolade by 5.8% during the 3rd quarter. Centiva Capital LP now owns 59,660 shares of the company’s stock worth $230,000 after purchasing an additional 3,264 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Accolade by 13.3% during the second quarter. The Manufacturers Life Insurance Company now owns 29,160 shares of the company’s stock valued at $104,000 after buying an additional 3,416 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings 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 buying an additional 3,789 shares in the last quarter. Mission Creek Capital Partners Inc. bought a new position in shares of Accolade in the third quarter valued at approximately $38,000. Finally, Inspire Investing LLC grew its stake in Accolade by 11.1% during the third quarter. Inspire Investing LLC now owns 106,679 shares of the company’s stock valued at $411,000 after acquiring an additional 10,658 shares in the last quarter. 84.99% of the stock is owned by institutional investors.

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.