Accolade, Inc. (NASDAQ:ACCD) Given Average Recommendation of “Hold” by Brokerages

Shares of Accolade, Inc. (NASDAQ:ACCD) have earned an average recommendation of “Hold” from the fourteen brokerages that are presently covering the stock, MarketBeat.com reports. Thirteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $6.51.

Several equities analysts have recently commented on ACCD shares. Piper Sandler lowered Accolade from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Leerink Partnrs downgraded shares of Accolade from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Accolade in a research report on Wednesday, January 8th. Raymond James reissued a “market perform” rating on shares of Accolade in a report on Thursday, January 9th. Finally, Canaccord Genuity Group restated a “hold” rating on shares of Accolade in a report on Wednesday, January 8th.

Accolade Price Performance

Accolade stock opened at $7.03 on Monday. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.63 and a quick ratio of 2.63. The stock has a market cap of $576.41 million, a price-to-earnings ratio of -3.12 and a beta of 2.10. The firm has a 50-day moving average of $6.95 and a two-hundred day moving average of $5.06. Accolade has a 1 year low of $3.08 and a 1 year high of $9.67.

Accolade (NASDAQ:ACCD) last announced its quarterly earnings results on Friday, January 10th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.01. Accolade had a negative return on equity of 20.74% and a negative net margin of 40.36%. On average, research analysts forecast that Accolade will post -1.2 earnings per share for the current year.

Institutional Trading of Accolade

Hedge funds and other institutional investors have recently made changes to their positions in the business. D. E. Shaw & Co. Inc. increased its position in Accolade by 77.9% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,280,783 shares of the company’s stock valued at $7,800,000 after buying an additional 998,423 shares in the last quarter. Clearline Capital LP grew its stake in shares of Accolade by 85.3% during the third quarter. Clearline Capital LP now owns 1,539,578 shares of the company’s stock worth $5,927,000 after acquiring an additional 708,794 shares during the last quarter. Fairman Group LLC grew its stake in shares of Accolade by 58.5% during the fourth quarter. Fairman Group LLC now owns 1,802,399 shares of the company’s stock worth $6,164,000 after acquiring an additional 665,112 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Accolade during the third quarter valued at about $2,378,000. Finally, Whetstone Capital Advisors LLC raised its position in shares of Accolade by 58.9% in the 4th quarter. Whetstone Capital Advisors LLC now owns 1,585,643 shares of the company’s stock valued at $5,423,000 after purchasing an additional 587,754 shares during the last quarter. 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.