Accolade (NASDAQ:ACCD) Price Target Cut to $13.00

Accolade (NASDAQ:ACCD) had its price target cut by Stifel Nicolaus from $15.00 to $13.00 in a report released on Monday, Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages have also recently weighed in on ACCD. Piper Sandler boosted their target price on Accolade from $12.00 to $15.00 and gave the stock an overweight rating in a 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 report on Tuesday, January 9th. William Blair restated an outperform rating on shares of Accolade in a report on Tuesday, January 9th. Truist Financial boosted their target price on Accolade from $15.00 to $16.00 and gave the stock a buy rating in a report on Tuesday, January 9th. Finally, Leerink Partnrs reiterated an outperform rating on shares of Accolade in a report on Monday, February 26th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Accolade presently has an average rating of Moderate Buy and a consensus price target of $15.53.

Accolade Price Performance

NASDAQ:ACCD opened at $9.19 on Monday. Accolade has a 12 month low of $6.33 and a 12 month high of $17.00. The stock has a 50 day moving average of $9.75 and a two-hundred day moving average of $9.92. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.48. The firm has a market cap of $711.40 million, a P/E ratio of -5.57 and a beta of 2.08.

Hedge Funds Weigh In On Accolade

A number of hedge funds have recently made changes to their positions in the stock. Nordea Investment Management AB grew its position in shares of Accolade by 1.4% during the 3rd quarter. Nordea Investment Management AB now owns 106,764 shares of the company’s stock valued at $1,148,000 after buying an additional 1,423 shares during the last quarter. HighTower Advisors LLC acquired a new position in Accolade during the 3rd quarter valued at about $2,354,000. Vanguard Group Inc. boosted its stake in Accolade by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 5,283,858 shares of the company’s stock valued at $55,903,000 after purchasing an additional 157,464 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Accolade by 111.1% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,798,993 shares of the company’s stock valued at $19,033,000 after purchasing an additional 946,970 shares during the period. Finally, Olympiad Research LP acquired a new position in Accolade during the 3rd quarter valued at about $171,000. Institutional investors and hedge funds own 84.99% of the company’s stock.

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 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.