Analysts Issue Forecasts for Accolade, Inc.'s FY2024 Earnings (NASDAQ:ACCD)

Friday, June 11, 2021 | MarketBeat

Accolade, Inc. (NASDAQ:ACCD) - Equities research analysts at SVB Leerink issued their FY2024 earnings per share estimates for Accolade in a research report issued on Wednesday, June 9th. SVB Leerink analyst S. Davis anticipates that the company will post earnings of ($0.69) per share for the year. SVB Leerink currently has a "Outperform" rating on the stock.

ACCD has been the subject of several other reports. Canaccord Genuity upped their target price on Accolade from $59.00 to $62.00 and gave the company a "buy" rating in a report on Thursday, March 18th. The Goldman Sachs Group started coverage on Accolade in a research note on Thursday, March 11th. They set a "buy" rating for the company. Robert W. Baird initiated coverage on Accolade in a research note on Thursday, May 27th. They issued a "neutral" rating and a $54.00 target price on the stock. Zacks Investment Research upgraded shares of Accolade from a "strong sell" rating to a "hold" rating in a research report on Friday, May 7th. Finally, Needham & Company LLC assumed coverage on shares of Accolade in a research report on Thursday, April 15th. They issued a "buy" rating and a $59.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company presently has an average rating of "Buy" and a consensus target price of $54.23.

ACCD opened at $53.44 on Friday. The stock's 50-day simple moving average is $47.19. Accolade has a fifty-two week low of $28.68 and a fifty-two week high of $65.25. The firm has a market capitalization of $3.14 billion and a price-to-earnings ratio of -18.56. Accolade (NASDAQ:ACCD) last released its earnings results on Tuesday, May 4th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.12). Accolade had a negative net margin of 29.73% and a negative return on equity of 27.59%. The business had revenue of $59.23 million for the quarter, compared to the consensus estimate of $55.38 million. The company's revenue for the quarter was up 33.3% compared to the same quarter last year.

Large investors have recently made changes to their positions in the stock. ARK Investment Management LLC lifted its position in Accolade by 124.1% in the first quarter. ARK Investment Management LLC now owns 5,306,902 shares of the company's stock worth $240,774,000 after purchasing an additional 2,938,598 shares during the period. University of Texas Texas AM Investment Managment Co. acquired a new stake in shares of Accolade in the first quarter valued at $54,050,000. Bellevue Group AG boosted its stake in Accolade by 305.2% during the first quarter. Bellevue Group AG now owns 1,561,121 shares of the company's stock valued at $70,828,000 after buying an additional 1,175,813 shares in the last quarter. Select Equity Group L.P. grew its holdings in Accolade by 134.4% during the first quarter. Select Equity Group L.P. now owns 2,034,551 shares of the company's stock worth $92,308,000 after acquiring an additional 1,166,665 shares during the period. Finally, Janus Henderson Group PLC bought a new stake in Accolade in the fourth quarter worth about $41,847,000. 71.62% of the stock is currently owned by hedge funds and other institutional investors.

About Accolade

Accolade, Inc develops and provides technology-enabled solutions that help people understand, navigate, and utilize the healthcare system and their workplace benefits in the United States. The company offers a platform with cloud-based technology and with multimodal support from a team of health assistants and clinicians, including nurses, physician medical directors, and behavioral health specialists.

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Earnings History and Estimates for Accolade (NASDAQ:ACCD)

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