Shares of Accolade, Inc. (NASDAQ:ACCD - Get Free Report) rose 11% during mid-day trading on Tuesday . The stock traded as high as $8.05 and last traded at $8.00. Approximately 58,899 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 729,152 shares. The stock had previously closed at $7.21.
Analysts Set New Price Targets
Several brokerages recently weighed in on ACCD. Morgan Stanley cut their target price on shares of Accolade from $13.00 to $12.00 and set an "equal weight" rating on the stock in a research note on Friday, April 26th. Truist Financial lowered their target price on Accolade from $16.00 to $14.00 and set a "buy" rating for the company in a research note on Friday, April 26th. Barclays reduced their price target on Accolade from $13.00 to $11.00 and set an "equal weight" rating on the stock in a research report on Friday, April 26th. Needham & Company LLC lowered their price objective on Accolade from $17.00 to $13.00 and set a "buy" rating for the company in a research report on Friday, April 26th. Finally, SVB Leerink initiated coverage on shares of Accolade in a report on Monday, February 26th. They issued an "outperform" rating and a $16.00 target price on the stock. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $14.14.
View Our Latest Report on Accolade
Accolade Price Performance
The company has a quick ratio of 2.64, a current ratio of 2.64 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $576.73 million, a price-to-earnings ratio of -5.56 and a beta of 2.15. The company has a 50 day simple moving average of $8.94 and a 200 day simple moving average of $9.97.
Accolade (NASDAQ:ACCD - Get Free Report) last released its quarterly earnings data on Thursday, April 25th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.01. Accolade had a negative net margin of 24.09% and a negative return on equity of 22.53%. The company had revenue of $124.80 million during the quarter, compared to the consensus estimate of $123.91 million. During the same period in the previous year, the firm earned ($0.42) earnings per share. Accolade's revenue for the quarter was up 26.1% on a year-over-year basis. As a group, research analysts predict that Accolade, Inc. will post -1.24 EPS for the current year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of ACCD. DekaBank Deutsche Girozentrale acquired a new position in Accolade in the 3rd quarter worth $28,000. AJOVista LLC bought a new stake in shares of Accolade in the fourth quarter worth $68,000. Allspring Global Investments Holdings LLC acquired a new stake in Accolade in the first quarter valued at $87,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Accolade by 84.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,928 shares of the company's stock valued at $126,000 after acquiring an additional 5,455 shares in the last quarter. Finally, Olympiad Research LP bought a new position in Accolade during the 3rd quarter valued at $171,000. Institutional investors and hedge funds own 84.99% of the company's stock.
Accolade Company Profile
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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.
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