Accolade (NASDAQ:ACCD) Rating Lowered to Hold at Stephens

Accolade (NASDAQ:ACCD - Get Free Report) was downgraded by Stephens from a "strong-buy" rating to a "hold" rating in a report released on Monday,Zacks.com reports.

Several other analysts have also commented on ACCD. William Blair lowered shares of Accolade from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, January 8th. Leerink Partners reiterated a "market perform" rating on shares of Accolade in a research report on Wednesday, January 8th. Stifel Nicolaus restated a "hold" rating and issued a $7.03 target price (down from $8.00) on shares of Accolade in a report on Thursday, January 9th. Canaccord Genuity Group reaffirmed a "hold" rating on shares of Accolade in a report on Wednesday, January 8th. Finally, Wells Fargo & Company dropped their price target on Accolade from $7.00 to $6.00 and set an "equal weight" rating on the stock in a research note on Friday, October 11th. Twelve equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $7.55.

Accolade Price Performance

Shares of ACCD stock traded up $0.02 during mid-day trading on Monday, hitting $6.86. 2,434,559 shares of the stock traded hands, compared to its average volume of 5,646,319. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.72 and a current ratio of 2.72. The firm has a market cap of $552.48 million, a price-to-earnings ratio of -6.66 and a beta of 2.08. The company's 50-day simple moving average is $3.88 and its 200-day simple moving average is $3.83. Accolade has a twelve month low of $3.08 and a twelve month high of $13.93.

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 analysts' consensus estimates 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 research analysts expect that Accolade will post -0.92 earnings per share for the current year.

Insider Transactions at Accolade

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

Institutional Investors Weigh In On Accolade

A number of institutional investors have recently modified their holdings of the stock. Pallas Capital Advisors LLC purchased a new stake in shares of Accolade during the fourth quarter worth $38,000. Barclays PLC lifted its holdings in shares of Accolade by 164.4% during the 3rd quarter. Barclays PLC now owns 139,901 shares of the company's stock valued at $539,000 after buying an additional 86,981 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Accolade by 4.9% in the 3rd 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 in the last quarter. Wolverine Trading LLC acquired a new position in Accolade in the third quarter worth approximately $51,000. Finally, Stifel Financial Corp raised its position in Accolade by 20.8% during the third quarter. Stifel Financial Corp now owns 332,126 shares of the company's stock valued at $1,279,000 after acquiring an additional 57,239 shares in the last quarter. Institutional investors and hedge funds own 84.99% of the company's stock.

About Accolade

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.