Accolade (NASDAQ:ACCD) Price Target Cut to $12.00

Accolade (NASDAQ:ACCD) had its price target cut by analysts at Morgan Stanley from $13.00 to $12.00 in a report released on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 52.67% from the stock’s current price.

Several other equities research analysts have also recently commented on the company. Leerink Partnrs reissued an “outperform” rating on shares of Accolade in a research note on Monday, February 26th. Piper Sandler raised their price target on shares of Accolade from $12.00 to $15.00 and gave the company an “overweight” 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. Stifel Nicolaus decreased their price target on Accolade from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Monday. Finally, Canaccord Genuity Group cut their price objective on Accolade from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.80.

Accolade Stock Down 14.5 %

NASDAQ:ACCD traded down $1.33 during trading hours on Friday, hitting $7.86. 929,057 shares of the company’s stock traded hands, compared to its average volume of 721,127. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.35 and a current ratio of 2.35. The firm has a market cap of $608.44 million, a P/E ratio of -4.81 and a beta of 2.08. The stock’s fifty day moving average price is $9.75 and its two-hundred day moving average price is $9.92. Accolade has a twelve month low of $6.33 and a twelve month high of $17.00.

Accolade (NASDAQ:ACCD) last released its earnings results on Thursday, April 25th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.01. The company had revenue of $124.80 million during the quarter, compared to the consensus estimate of $123.91 million. Accolade had a negative net margin of 31.59% and a negative return on equity of 27.27%. The company’s revenue was up 26.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.42) EPS. On average, research analysts expect that Accolade will post -1.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ACCD. BluePath Capital Management LLC acquired a new position in Accolade during the third quarter valued at approximately $28,000. DekaBank Deutsche Girozentrale bought a new position in shares of Accolade in the 3rd quarter valued at about $28,000. AJOVista LLC acquired a new position in shares of Accolade during the 4th quarter worth about $68,000. Allspring Global Investments Holdings LLC acquired a new stake in Accolade in the 1st quarter valued at about $87,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Accolade by 84.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,928 shares of the company’s stock valued at $126,000 after buying an additional 5,455 shares during the last quarter. 84.99% of the stock is owned by institutional investors and hedge funds.

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.