Accolade, Inc. (NASDAQ:ACCD - Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $3.35, but opened at $6.88. Accolade shares last traded at $6.88, with a volume of 5,400,398 shares trading hands.
Analysts Set New Price Targets
ACCD has been the topic of several recent analyst reports. Canaccord Genuity Group reaffirmed a "hold" rating on shares of Accolade in a research report on Wednesday. Truist Financial lowered their target price on shares of Accolade from $9.00 to $7.50 and set a "buy" rating on the stock in a report on Wednesday, October 9th. Stephens cut their price objective on Accolade from $10.00 to $8.00 and set an "overweight" rating for the company in a research report on Wednesday, October 9th. Needham & Company LLC reaffirmed a "hold" rating on shares of Accolade in a report on Wednesday. Finally, Leerink Partners reiterated a "market perform" rating on shares of Accolade in a report on Wednesday. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $8.96.
Check Out Our Latest Research Report on Accolade
Accolade Price Performance
The company has a fifty day simple moving average of $3.59 and a two-hundred day simple moving average of $3.81. The stock 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 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 released its earnings results on Tuesday, October 8th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate 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 firm had revenue of $106.40 million for the quarter, compared to analyst estimates of $104.87 million. During the same period last year, the firm earned ($0.43) EPS. The business's quarterly revenue was up 9.8% compared to the same quarter last year. As a group, equities research analysts expect that Accolade, Inc. will post -0.92 earnings per share for the current fiscal year.
Insider Activity at Accolade
In related news, CEO Rajeev Singh sold 13,357 shares of the 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 completion of the transaction, the chief executive officer now owns 814,316 shares of the company's stock, valued at $2,931,537.60. This represents a 1.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 42,006 shares of company stock valued at $149,228 over the last three months. 8.20% of the stock is owned by insiders.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the company. Mission Creek Capital Partners Inc. acquired a new position in shares of Accolade in the third quarter worth approximately $38,000. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in Accolade during the third quarter worth approximately $46,000. Wolverine Trading LLC bought a new stake in Accolade in the third quarter worth approximately $51,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Accolade by 22.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,373 shares of the company's stock valued at $73,000 after buying an additional 3,789 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. increased its stake in shares of Accolade by 1,144.1% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 20,913 shares of the company's stock valued at $81,000 after acquiring an additional 19,232 shares in the last quarter. 84.99% of the stock is currently owned by institutional investors.
About Accolade
(
Get Free Report)
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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