Accolade (NASDAQ:ACCD) Shares Up 13.9%

Accolade, Inc. (NASDAQ:ACCD – Get Rating)’s stock price shot up 13.9% during trading on Thursday . The company traded as high as $7.55 and last traded at $7.53. 87,197 shares were traded during trading, a decline of 92% from the average session volume of 1,160,963 shares. The stock had previously closed at $6.61.

A number of brokerages have recently commented on ACCD. SVB Leerink lowered shares of Accolade from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $32.00 to $8.00 in a research report on Friday, April 29th. The Goldman Sachs Group cut their price objective on shares of Accolade from $26.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, May 26th. Guggenheim assumed coverage on shares of Accolade in a report on Wednesday, April 6th. They set a “neutral” rating on the stock. Canaccord Genuity Group cut their price objective on shares of Accolade from $34.00 to $17.00 in a report on Friday, April 29th. Finally, Berenberg Bank reissued a “buy” rating and set a $11.00 price objective on shares of Accolade in a report on Friday, June 17th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Accolade has a consensus rating of “Moderate Buy” and a consensus target price of $19.80.

The company’s 50 day moving average price is $7.50 and its 200 day moving average price is $15.41. The company has a quick ratio of 3.66, a current ratio of 3.66 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $508.71 million, a price-to-earnings ratio of -3.61 and a beta of 2.95.

Accolade (NASDAQ:ACCD – Get Rating) last posted its quarterly earnings data on Thursday, April 28th. The company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.45) by ($0.14). Accolade had a negative return on equity of 22.57% and a negative net margin of 39.72%. The company had revenue of $93.76 million for the quarter, compared to analyst estimates of $91.58 million. During the same quarter in the previous year, the firm posted ($0.13) earnings per share. The company’s quarterly revenue was up 58.3% on a year-over-year basis. As a group, analysts expect that Accolade, Inc. will post -2.46 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Brown Advisory Inc. lifted its position in Accolade by 97.8% during the first quarter. Brown Advisory Inc. now owns 4,103,950 shares of the company’s stock valued at $72,168,000 after purchasing an additional 2,029,528 shares during the period. BlackRock Inc. lifted its position in Accolade by 6.9% during the first 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. JPMorgan Chase & Co. lifted its position in Accolade by 23.2% during the first quarter. JPMorgan Chase & Co. now owns 3,590,721 shares of the company’s stock valued at $63,054,000 after purchasing an additional 675,881 shares during the period. Bellevue Group AG lifted its position in Accolade by 24.3% during the first quarter. Bellevue Group AG now owns 3,381,507 shares of the company’s stock valued at $59,380,000 after purchasing an additional 660,132 shares during the period. Finally, Wellington Management Group LLP lifted its position in Accolade by 20.9% during the third quarter. Wellington Management Group LLP now owns 1,936,936 shares of the company’s stock valued at $81,680,000 after purchasing an additional 334,840 shares during the period. Institutional investors own 81.43% of the company’s stock.

About Accolade (NASDAQ:ACCD)

Accolade, Inc, together with its subsidiaries, 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.

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