Accolade (NASDAQ:ACCD) Earns Market Perform Rating from Leerink Partners

Leerink Partners reiterated their market perform rating on shares of Accolade (NASDAQ:ACCD - Free Report) in a research report sent to investors on Wednesday,Benzinga reports.

A number of other brokerages have also issued reports on ACCD. Truist Financial decreased their target price on shares of Accolade from $9.00 to $7.50 and set a "buy" rating on the stock in a research report on Wednesday, October 9th. Canaccord Genuity Group dropped their price objective on Accolade from $13.00 to $7.00 and set a "buy" rating for the company in a report on Wednesday, October 9th. Stephens reduced their target price on Accolade from $10.00 to $8.00 and set an "overweight" rating on the stock in a report on Wednesday, October 9th. Wells Fargo & Company cut their price objective on shares of Accolade from $7.00 to $6.00 and set an "equal weight" rating for the company in a research report on Friday, October 11th. Finally, Morgan Stanley decreased their target price on shares of Accolade from $6.00 to $5.00 and set an "equal weight" rating on the stock in a report on Tuesday, December 17th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $8.96.

Accolade Stock Performance

NASDAQ:ACCD traded up $3.51 during mid-day trading on Wednesday, hitting $6.86. 24,724,925 shares of the stock were exchanged, compared to its average volume of 5,729,745. 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's 50-day simple moving average is $3.59 and its 200 day simple moving average is $3.81. Accolade has a fifty-two week low of $3.08 and a fifty-two week high of $15.36. The stock has a market capitalization of $552.48 million, a price-to-earnings ratio of -6.66 and a beta of 2.08.

Accolade (NASDAQ:ACCD - Get Free Report) last announced its earnings results on Tuesday, October 8th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.44) by $0.14. Accolade had a negative net margin of 18.16% and a negative return on equity of 18.43%. The company had revenue of $106.40 million during the quarter, compared to analysts' expectations of $104.87 million. During the same quarter in the previous year, the business posted ($0.43) earnings per share. Accolade's quarterly revenue was up 9.8% on a year-over-year basis. As a group, equities analysts anticipate that Accolade will post -0.92 EPS for the current fiscal year.

Insider Transactions at Accolade

In other news, CEO Rajeev Singh sold 13,357 shares of Accolade 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 sale, the chief executive officer now directly owns 814,316 shares of the company's stock, valued at approximately $2,931,537.60. This trade represents a 1.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders sold 42,006 shares of company stock worth $149,228. Corporate insiders own 8.20% of the company's stock.

Hedge Funds Weigh In On Accolade

A number of hedge funds have recently modified their holdings of the business. Centiva Capital LP lifted its holdings in Accolade by 5.8% during the 3rd quarter. Centiva Capital LP now owns 59,660 shares of the company's stock worth $230,000 after buying an additional 3,264 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Accolade by 13.3% during the second quarter. The Manufacturers Life Insurance Company now owns 29,160 shares of the company's stock worth $104,000 after acquiring an additional 3,416 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Accolade by 22.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,373 shares of the company's stock worth $73,000 after acquiring an additional 3,789 shares during the last quarter. Mission Creek Capital Partners Inc. bought a new stake in Accolade in the third quarter valued at approximately $38,000. Finally, Inspire Investing LLC boosted its holdings in Accolade by 11.1% in the third quarter. Inspire Investing LLC now owns 106,679 shares of the company's stock valued at $411,000 after acquiring an additional 10,658 shares during 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.