Accolade (NASDAQ:ACCD) Price Target Cut to $35.00

Accolade (NASDAQ:ACCD) had its price objective lowered by BTIG Research from $60.00 to $35.00 in a report published on Tuesday morning, The Fly reports.

Several other brokerages have also commented on ACCD. Jefferies Financial Group began coverage on shares of Accolade in a research report on Wednesday, December 1st. They issued a buy rating and a $33.00 price objective for the company. Needham & Company LLC decreased their price objective on shares of Accolade from $56.00 to $33.00 and set a buy rating for the company in a research report on Tuesday. Piper Sandler decreased their price objective on shares of Accolade from $45.00 to $35.00 in a research report on Tuesday. Zacks Investment Research lowered shares of Accolade from a hold rating to a sell rating in a research report on Thursday, January 6th. Finally, SVB Leerink reduced their price target on shares of Accolade from $58.00 to $52.00 and set an outperform rating for the company in a research report on Friday, October 8th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Accolade presently has an average rating of Buy and an average price target of $43.73.

ACCD stock opened at $20.21 on Tuesday. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of -11.68 and a beta of 1.82. The firm has a 50-day simple moving average of $27.31 and a two-hundred day simple moving average of $39.09. Accolade has a one year low of $18.72 and a one year high of $59.93. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.67 and a current ratio of 2.21.

Accolade (NASDAQ:ACCD) last released its quarterly earnings results on Monday, January 10th. The company reported $0.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.68) by $0.99. The business had revenue of $83.45 million during the quarter, compared to analyst estimates of $75.89 million. Accolade had a negative net margin of 33.86% and a negative return on equity of 20.66%. The company’s quarterly revenue was up 117.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.32) earnings per share. As a group, equities analysts predict that Accolade will post -2.66 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in ACCD. Nisa Investment Advisors LLC acquired a new stake in Accolade in the 2nd quarter valued at $28,000. First Horizon Advisors Inc. acquired a new stake in Accolade in the 3rd quarter valued at $28,000. US Bancorp DE grew its stake in Accolade by 920.6% in the 2nd quarter. US Bancorp DE now owns 694 shares of the company’s stock valued at $37,000 after acquiring an additional 626 shares during the period. Strs Ohio acquired a new stake in Accolade in the 3rd quarter valued at $63,000. Finally, Great West Life Assurance Co. Can grew its stake in Accolade by 91.6% in the 2nd quarter. Great West Life Assurance Co. Can now owns 1,767 shares of the company’s stock valued at $96,000 after acquiring an additional 845 shares during the period. 72.11% of the stock is currently owned by hedge funds and other institutional investors.

About Accolade

Accolade, Inc develops and provides 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 nurses, physician medical directors, and behavioral health specialists.

Read More: Backdoor Roth IRA

The Fly logo

Analyst Recommendations for Accolade (NASDAQ:ACCD)

Receive News & Ratings for Accolade Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Accolade and related companies with MarketBeat.com's FREE daily email newsletter.