Accolade (NASDAQ:ACCD) Shares Up 4%

Accolade, Inc. (NASDAQ:ACCD)’s share price rose 4% during trading on Tuesday . The stock traded as high as $10.09 and last traded at $10.08. Approximately 30,718 shares traded hands during trading, a decline of 96% from the average daily volume of 746,159 shares. The stock had previously closed at $9.69.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Needham & Company LLC reissued a “buy” rating and issued a $17.00 price objective on shares of Accolade in a research note on Friday, January 19th. Piper Sandler raised their price objective on shares of Accolade from $12.00 to $15.00 and gave the company an “overweight” rating in a research report on Tuesday, January 9th. Raymond James boosted their target price on Accolade from $12.00 to $16.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 9th. Truist Financial lifted their price target on Accolade from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday, January 9th. Finally, Leerink Partnrs reiterated an “outperform” rating on shares of Accolade in a research report on Monday, February 26th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Accolade presently has an average rating of “Moderate Buy” and an average price target of $15.67.

Accolade Trading Up 0.3 %

The business’s fifty day moving average price is $11.08 and its 200 day moving average price is $10.17. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $773.31 million, a PE ratio of -6.05 and a beta of 2.08.

Accolade (NASDAQ:ACCD) last announced its quarterly earnings data on Monday, January 8th. The company reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.17. Accolade had a negative return on equity of 27.27% and a negative net margin of 31.59%. The business had revenue of $99.37 million during the quarter, compared to the consensus estimate of $96.16 million. During the same quarter in the previous year, the business earned ($0.56) earnings per share. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. As a group, analysts expect that Accolade, Inc. will post -1.38 EPS for the current fiscal year.

Insider Buying and Selling at Accolade

In other news, CEO Rajeev Singh sold 36,199 shares of the business’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $15.00, for a total transaction of $542,985.00. Following the completion of the sale, the chief executive officer now owns 705,083 shares in the company, valued at approximately $10,576,245. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 65,370 shares of company stock worth $953,666 in the last quarter. 8.30% of the stock is owned by insiders.

Institutional Trading of Accolade

A number of institutional investors have recently added to or reduced their stakes in ACCD. ARK Investment Management LLC grew its stake in shares of Accolade by 12.6% in the fourth quarter. ARK Investment Management LLC now owns 6,805,208 shares of the company’s stock worth $81,731,000 after purchasing an additional 762,685 shares in the last quarter. JPMorgan Chase & Co. increased its position in Accolade by 12.0% during the second quarter. JPMorgan Chase & Co. now owns 6,598,440 shares of the company’s stock worth $88,881,000 after buying an additional 705,383 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Accolade by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 5,326,212 shares of the company’s stock valued at $63,968,000 after acquiring an additional 42,354 shares in the last quarter. Bellevue Group AG lifted its holdings in Accolade by 11.9% in the 2nd quarter. Bellevue Group AG now owns 4,521,059 shares of the company’s stock worth $60,899,000 after purchasing an additional 479,258 shares during the last quarter. Finally, BlackRock Inc. boosted its holdings in Accolade by 6.9% in the 1st quarter. BlackRock Inc. now owns 3,730,360 shares of the company’s stock valued at $65,503,000 after purchasing an additional 241,048 shares during the period. 84.99% of the stock is owned by hedge funds and other institutional investors.

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 technology and multimodal support from a team of health assistants and clinicians, including registered nurses, physician medical directors, pharmacists, behavioral health specialists, women's health specialists, case management specialists, expert medical opinion providers, and virtual primary care physicians.