Accolade (NASDAQ:ACCD) Shares Up 2.9%

Accolade, Inc. (NASDAQ:ACCD)’s stock price shot up 2.9% on Wednesday . The company traded as high as $8.67 and last traded at $8.64. 259,204 shares traded hands during trading, a decline of 64% from the average session volume of 712,323 shares. The stock had previously closed at $8.40.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ACCD. Barclays began coverage on shares of Accolade in a research report on Wednesday, January 3rd. They set an “equal weight” rating and a $13.00 target price for the company. Raymond James upped their price target on shares of Accolade from $12.00 to $16.00 and gave the company an “outperform” rating in a research note on Tuesday, January 9th. Wells Fargo & Company upped their price target on shares of Accolade from $10.00 to $12.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 9th. Stifel Nicolaus decreased their price target on shares of Accolade from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, January 4th. Finally, Leerink Partnrs reissued an “outperform” rating on shares of Accolade in a research note on Monday, February 26th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Accolade currently has an average rating of “Moderate Buy” and an average price target of $15.67.

Accolade Stock Up 3.5 %

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 business’s 50 day moving average is $10.32 and its 200 day moving average is $9.93. The company has a market capitalization of $672.68 million, a price-to-earnings ratio of -5.21 and a beta of 2.08.

Hedge Funds Weigh In On Accolade

Several large investors have recently made changes to their positions in the company. ARK Investment Management LLC lifted its stake in shares of Accolade by 12.6% in the 4th quarter. ARK Investment Management LLC now owns 6,805,208 shares of the company’s stock valued at $81,731,000 after purchasing an additional 762,685 shares during the period. JPMorgan Chase & Co. raised its position in Accolade by 4.6% during the first quarter. JPMorgan Chase & Co. now owns 5,893,057 shares of the company’s stock worth $84,743,000 after acquiring an additional 259,910 shares during the period. Vanguard Group Inc. raised its position in shares of Accolade by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 5,326,212 shares of the company’s stock valued at $63,968,000 after buying an additional 42,354 shares during the last quarter. BlackRock Inc. raised its position in shares of Accolade by 6.9% in the first quarter. BlackRock Inc. now owns 3,730,360 shares of the company’s stock valued at $65,503,000 after buying an additional 241,048 shares during the last quarter. Finally, Bellevue Group AG raised its position in shares of Accolade by 24.3% in the first quarter. Bellevue Group AG now owns 3,381,507 shares of the company’s stock valued at $59,380,000 after buying an additional 660,132 shares during the last quarter. 84.99% of the stock is currently 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.