Accolade (NASDAQ:ACCD) PT Lowered to $13.00

Accolade (NASDAQ:ACCD - Free Report) had its price objective cut by Guggenheim from $17.00 to $13.00 in a research report released on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts have also recently weighed in on ACCD. Barclays decreased their price target on shares of Accolade from $13.00 to $11.00 and set an equal weight rating on the stock in a report on Friday, April 26th. SVB Leerink began coverage on shares of Accolade in a research note on Monday, February 26th. They issued an outperform rating and a $16.00 target price on the stock. William Blair reissued an outperform rating on shares of Accolade in a research note on Tuesday, January 9th. Morgan Stanley lowered their price objective on shares of Accolade from $13.00 to $12.00 and set an equal weight rating on the stock in a research report on Friday, April 26th. Finally, Needham & Company LLC cut their target price on shares of Accolade from $17.00 to $13.00 and set a buy rating for the company in a research report on Friday, April 26th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $14.14.

Accolade Stock Performance

Shares of ACCD traded down $0.32 during trading hours on Wednesday, hitting $7.12. The company's stock had a trading volume of 599,630 shares, compared to its average volume of 736,989. The business has a 50 day simple moving average of $9.10 and a two-hundred day simple moving average of $9.94. Accolade has a 52-week low of $6.33 and a 52-week high of $15.36. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.64 and a quick ratio of 2.64. The company has a market cap of $557.92 million, a price-to-earnings ratio of -5.35 and a beta of 2.15.

Accolade (NASDAQ:ACCD - Get Free Report) last issued its earnings results on Thursday, April 25th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.01. Accolade had a negative return on equity of 22.53% and a negative net margin of 24.09%. The business had revenue of $124.80 million during the quarter, compared to the consensus estimate of $123.91 million. During the same quarter last year, the company earned ($0.42) EPS. The firm's revenue was up 26.1% compared to the same quarter last year. On average, equities analysts expect that Accolade will post -1.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Accolade

Hedge funds and other institutional investors have recently made changes to their positions in the business. Inspire Investing LLC purchased a new stake in Accolade in the first quarter worth about $360,000. Swiss National Bank lifted its stake in shares of Accolade by 1.7% in the 1st quarter. Swiss National Bank now owns 137,500 shares of the company's stock valued at $1,441,000 after purchasing an additional 2,300 shares during the period. GSA Capital Partners LLP boosted its position in shares of Accolade by 102.8% during the first quarter. GSA Capital Partners LLP now owns 51,374 shares of the company's stock valued at $538,000 after purchasing an additional 26,044 shares in the last quarter. Mckinley Capital Management LLC purchased a new stake in Accolade in the first quarter worth $1,155,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in Accolade during the first quarter valued at $87,000. Institutional investors own 84.99% of the company's stock.

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.