William Blair lowered shares of Accolade (NASDAQ:ACCD - Free Report) from a strong-buy rating to a hold rating in a report released on Wednesday,Zacks.com reports.
A number of other research firms have also recently weighed in on ACCD. Wells Fargo & Company reduced their price target on Accolade from $7.00 to $6.00 and set an "equal weight" rating for the company in a report on Friday, October 11th. Stephens dropped their target price on Accolade from $10.00 to $8.00 and set an "overweight" rating for the company in a report on Wednesday, October 9th. Stifel Nicolaus reaffirmed a "hold" rating and set a $7.03 price target (down previously from $8.00) on shares of Accolade in a research report on Thursday. Truist Financial reduced their price target on shares of Accolade from $9.00 to $7.50 and set a "buy" rating on the stock in a research note on Wednesday, October 9th. Finally, Leerink Partners reiterated a "market perform" rating on shares of Accolade in a report on Wednesday. Ten equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $7.55.
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Accolade Stock Down 0.4 %
ACCD stock traded down $0.03 on Wednesday, hitting $6.83. 11,364,956 shares of the company's stock were exchanged, compared to its average volume of 6,673,309. The firm has a 50 day moving average price of $3.73 and a two-hundred day moving average price of $3.84. Accolade has a 12-month low of $3.08 and a 12-month high of $15.21. The stock has a market cap of $550.07 million, a P/E ratio of -6.63 and a beta of 2.08. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.72 and a current ratio of 2.72.
Accolade (NASDAQ:ACCD - Get Free Report) last posted its quarterly earnings results on Friday, January 10th. The company reported ($0.30) earnings per share for the quarter, beating 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 research analysts expect that Accolade will post -0.92 EPS for the current fiscal year.
Insider Transactions at Accolade
In other Accolade news, CEO Rajeev Singh sold 13,357 shares of the company's stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $3.60, for a total transaction of $48,085.20. Following the completion of the sale, the chief executive officer now directly owns 814,316 shares in the company, valued at $2,931,537.60. This represents a 1.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold a total of 40,881 shares of company stock worth $144,987 in the last three months. Company insiders own 8.20% of the company's stock.
Institutional Trading of Accolade
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Mission Creek Capital Partners Inc. acquired a new position in shares of Accolade during the third quarter worth $38,000. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in Accolade during the 3rd quarter worth approximately $46,000. Wolverine Trading LLC acquired a new position in Accolade in the third quarter worth $51,000. Point72 Asia Singapore Pte. Ltd. grew its position in shares of Accolade by 1,144.1% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 20,913 shares of the company's stock valued at $81,000 after buying an additional 19,232 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new stake in shares of Accolade during the 3rd quarter worth approximately $96,000. Institutional investors and hedge funds own 84.99% of the company's stock.
About Accolade
(
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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 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.
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