Accolade (NASDAQ:ACCD) PT Lowered to $14.00 at Truist Financial

Accolade (NASDAQ:ACCD) had its price target reduced by Truist Financial from $16.00 to $14.00 in a research report report published on Friday, Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms have also recently weighed in on ACCD. Stifel Nicolaus lowered their price objective on Accolade from $15.00 to $13.00 and set a buy rating for the company in a research report on Monday, April 22nd. William Blair restated an outperform rating on shares of Accolade in a report on Tuesday, January 9th. Leerink Partnrs reaffirmed an outperform rating on shares of Accolade in a research report on Monday, February 26th. Wells Fargo & Company boosted their target price on shares of Accolade from $10.00 to $12.00 and gave the stock an equal weight rating in a research report on Tuesday, January 9th. Finally, Canaccord Genuity Group cut their price target on shares of 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 assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $14.80.

Accolade Stock Performance

ACCD stock opened at $8.19 on Friday. Accolade has a one year low of $6.33 and a one year high of $15.36. The firm has a market cap of $633.99 million, a price-to-earnings ratio of -6.16 and a beta of 2.08. 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 50-day simple moving average of $9.58 and a two-hundred day simple moving average of $9.94.

Accolade (NASDAQ:ACCD) last posted its earnings results on Thursday, April 25th. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. The company had revenue of $124.80 million during the quarter, compared to analysts’ expectations of $123.91 million. Accolade had a negative net margin of 24.09% and a negative return on equity of 22.57%. Accolade’s revenue for the quarter was up 26.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.42) earnings per share. On average, equities analysts forecast that Accolade will post -1.2 EPS for the current fiscal year.

Institutional Trading of Accolade

Several hedge funds and other institutional investors have recently bought and sold shares of ACCD. Principal Financial Group Inc. purchased a new stake in Accolade during the first quarter worth $259,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Accolade in the first quarter worth about $87,000. Los Angeles Capital Management LLC boosted its stake in shares of Accolade by 233.8% during the 1st quarter. Los Angeles Capital Management LLC now owns 56,149 shares of the company’s stock worth $588,000 after acquiring an additional 39,330 shares in the last quarter. Fairman Group LLC acquired a new stake in shares of Accolade during the 4th quarter valued at about $14,139,000. Finally, PNC Financial Services Group Inc. increased its stake in shares of Accolade by 52,492.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 33,659 shares of the company’s stock valued at $404,000 after purchasing an additional 33,595 shares in the last quarter. 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 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.