Accolade (NASDAQ:ACCD) Given New $10.00 Price Target at Wells Fargo & Company

Accolade (NASDAQ:ACCD - Get Free Report) had its price objective lowered by stock analysts at Wells Fargo & Company from $12.00 to $10.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Wells Fargo & Company's price objective indicates a potential upside of 31.06% from the stock's previous close.

Other equities analysts have also recently issued research reports about the stock. Piper Sandler lifted their target price on shares of Accolade from $12.00 to $15.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 9th. Canaccord Genuity Group dropped their price target on Accolade from $18.00 to $16.00 and set a "buy" rating on the stock in a report on Friday. Leerink Partnrs reissued an "outperform" rating on shares of Accolade in a report on Monday, February 26th. Needham & Company LLC cut their price target on Accolade from $17.00 to $13.00 and set a "buy" rating for the company in a report on Friday. Finally, SVB Leerink assumed coverage on Accolade in a research note on Monday, February 26th. They set an "outperform" rating and a $16.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, Accolade has an average rating of "Moderate Buy" and an average price target of $14.67.

Accolade Trading Down 6.8 %

Shares of NASDAQ:ACCD traded down $0.56 during midday trading on Tuesday, reaching $7.63. The company's stock had a trading volume of 1,284,374 shares, compared to its average volume of 739,485. The firm has a 50 day moving average price of $9.50 and a two-hundred day moving average price of $9.94. Accolade has a fifty-two week low of $6.33 and a fifty-two week high of $15.36. The firm has a market capitalization of $590.64 million, a price-to-earnings ratio of -5.74 and a beta of 2.08. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.35 and a current ratio of 2.35.

Accolade (NASDAQ:ACCD - Get Free Report) last posted its quarterly earnings results on Thursday, April 25th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.01. The firm had revenue of $124.80 million during the quarter, compared to the consensus estimate of $123.91 million. Accolade had a negative net margin of 24.09% and a negative return on equity of 22.57%. The business's revenue was up 26.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.42) earnings per share. As a group, analysts forecast that Accolade will post -1.2 earnings per share for the current year.

Institutional Trading of Accolade

A number of hedge funds have recently made changes to their positions in the stock. BluePath Capital Management LLC purchased a new stake in Accolade during the third quarter valued at about $28,000. DekaBank Deutsche Girozentrale purchased a new stake in Accolade during the third quarter valued at about $28,000. AJOVista LLC bought a new position in shares of Accolade during the fourth quarter valued at about $68,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Accolade in the first quarter worth about $87,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Accolade by 84.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,928 shares of the company's stock worth $126,000 after buying an additional 5,455 shares during the period. 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 technology and multimodal support from a team of health assistants and clinicians, including registered nurses, physician medical directors, pharmacists, behavioral health specialists, women's health specialists, case management specialists, expert medical opinion providers, and virtual primary care physicians.