Accolade, Inc. (NASDAQ:ACCD) Receives Consensus Rating of "Hold" from Analysts

Shares of Accolade, Inc. (NASDAQ:ACCD - Get Free Report) have earned an average recommendation of "Hold" from the thirteen research firms that are presently covering the company, MarketBeat.com reports. Twelve research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $7.55.

ACCD has been the topic of a number of recent analyst reports. Truist Financial cut shares of Accolade from a "strong-buy" rating to a "hold" rating in a research note on Friday, January 10th. Needham & Company LLC reissued a "hold" rating on shares of Accolade in a report on Wednesday, January 8th. Morgan Stanley dropped their price objective on Accolade from $6.00 to $5.00 and set an "equal weight" rating for the company in a research report on Tuesday, December 17th. Leerink Partners reiterated a "market perform" rating on shares of Accolade in a research report on Wednesday, January 8th. Finally, William Blair cut shares of Accolade from a "strong-buy" rating to a "hold" rating in a report on Wednesday, January 8th.

Insiders Place Their Bets

In related news, CEO Rajeev Singh sold 13,357 shares of Accolade stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $3.60, for a total value of $48,085.20. Following the transaction, the chief executive officer now directly owns 814,316 shares of the company's stock, valued at $2,931,537.60. The trade was a 1.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders have sold 41,962 shares of company stock valued at $152,424. 8.20% of the stock is currently owned by company insiders.

Institutional Trading of Accolade

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ACCD. Millennium Management LLC boosted its stake in shares of Accolade by 244.7% in the 2nd quarter. Millennium Management LLC now owns 2,623,201 shares of the company's stock valued at $9,391,000 after purchasing an additional 1,862,178 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Accolade by 4.9% in the third quarter. Geode Capital Management LLC now owns 1,782,038 shares of the company's stock valued at $6,862,000 after buying an additional 83,556 shares during the period. Clearline Capital LP boosted its position in Accolade by 85.3% during the third quarter. Clearline Capital LP now owns 1,539,578 shares of the company's stock valued at $5,927,000 after acquiring an additional 708,794 shares during the last quarter. Whetstone Capital Advisors LLC acquired a new stake in Accolade during the 3rd quarter worth about $3,842,000. Finally, Point72 Asset Management L.P. acquired a new stake in Accolade during the 3rd quarter worth about $2,378,000. Institutional investors and hedge funds own 84.99% of the company's stock.

Accolade Stock Performance

NASDAQ ACCD traded up $0.02 during trading on Wednesday, reaching $6.86. The company's stock had a trading volume of 2,735,605 shares, compared to its average volume of 5,713,444. The firm has a 50 day moving average price of $3.88 and a 200 day moving average price of $3.83. Accolade has a 12 month low of $3.08 and a 12 month high of $13.93. The firm has a market capitalization of $552.48 million, a price-to-earnings ratio of -6.66 and a beta of 2.08. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 0.49.

Accolade (NASDAQ:ACCD - Get Free Report) last released its earnings results on Friday, January 10th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.01. Accolade had a negative return on equity of 18.43% and a negative net margin of 18.16%. As a group, equities analysts anticipate that Accolade will post -0.92 EPS for the current fiscal year.

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 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.