Accolade's (ACCD) Hold Rating Reiterated at Stifel Nicolaus

Accolade (NASDAQ:ACCD - Get Free Report)'s stock had its "hold" rating reissued by analysts at Stifel Nicolaus in a note issued to investors on Thursday,Benzinga reports. They presently have a $7.03 price objective on the stock, down from their prior price objective of $8.00. Stifel Nicolaus' price target would suggest a potential upside of 2.48% from the company's previous close.

A number of other equities research analysts have also weighed in on the company. Wells Fargo & Company lowered their price objective on Accolade from $7.00 to $6.00 and set an "equal weight" rating on the stock in a report on Friday, October 11th. Morgan Stanley cut 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. Canaccord Genuity Group reiterated a "hold" rating on shares of Accolade in a report on Wednesday. Raymond James reiterated a "market perform" rating on shares of Accolade in a research report on Thursday. Finally, Leerink Partners restated a "market perform" rating on shares of Accolade in a report on Wednesday. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $8.88.

Accolade Stock Up 104.8 %

ACCD traded up $3.51 during trading hours on Thursday, hitting $6.86. 24,724,925 shares of the company's stock were exchanged, compared to its average volume of 5,729,745. The firm has a market cap of $552.48 million, a P/E ratio of -6.66 and a beta of 2.08. The firm has a 50 day moving average of $3.66 and a 200 day moving average of $3.83. Accolade has a 12-month low of $3.08 and a 12-month high of $15.36. 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 announced its quarterly earnings results on Tuesday, October 8th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.44) by $0.14. The company had revenue of $106.40 million during the quarter, compared to the consensus estimate of $104.87 million. Accolade had a negative return on equity of 18.43% and a negative net margin of 18.16%. Accolade's revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the previous year, the business earned ($0.43) EPS. Analysts predict that Accolade will post -0.92 EPS for the current fiscal year.

Insider Activity

In other news, CEO Rajeev Singh sold 13,357 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now directly 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 SEC, which can be accessed through this hyperlink. Insiders sold 42,006 shares of company stock worth $149,228 over the last ninety days. Corporate insiders own 8.20% of the company's stock.

Institutional Trading of Accolade

Several institutional investors have recently added to or reduced their stakes in the stock. Mission Creek Capital Partners Inc. bought a new stake in shares of Accolade in the 3rd quarter worth about $38,000. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in Accolade in the third quarter valued at about $46,000. Wolverine Trading LLC bought a new stake in Accolade in the third quarter valued at about $51,000. Point72 Asia Singapore Pte. Ltd. raised its stake in Accolade by 1,144.1% during the third 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 in the last quarter. Finally, Intech Investment Management LLC bought a new position in Accolade during the 3rd quarter worth approximately $96,000. 84.99% of the stock is owned by institutional investors and hedge funds.

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.