Truist Financial Cuts Accolade (NASDAQ:ACCD) Price Target to $14.00

Accolade (NASDAQ:ACCD) had its target price trimmed by Truist Financial from $16.00 to $14.00 in a research report sent to investors on Friday, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other analysts have also issued reports on the stock. Piper Sandler raised their target price on shares of Accolade from $12.00 to $15.00 and gave the stock an overweight rating in a research report on Tuesday, January 9th. Stifel Nicolaus decreased their price objective on Accolade from $15.00 to $13.00 and set a buy rating on the stock in a report on Monday, April 22nd. Leerink Partnrs reiterated an outperform rating on shares of Accolade in a research note on Monday, February 26th. Canaccord Genuity Group reduced their target price on Accolade from $18.00 to $16.00 and set a buy rating on the stock in a research report on Friday. Finally, William Blair restated an outperform rating on shares of Accolade in a report on Tuesday, January 9th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Accolade presently has a consensus rating of Moderate Buy and an average target price of $14.80.

Accolade Stock Performance

Accolade stock opened at $8.19 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.35 and a current ratio of 2.35. Accolade has a fifty-two week low of $6.33 and a fifty-two week high of $15.36. The stock has a fifty day moving average of $9.58 and a two-hundred day moving average of $9.94. The company has a market capitalization of $633.99 million, a price-to-earnings ratio of -6.16 and a beta of 2.08.

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

Institutional Investors Weigh In On Accolade

A number of institutional investors have recently modified their holdings of the stock. BluePath Capital Management LLC acquired a new stake in Accolade during the third quarter valued at approximately $28,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Accolade in the 3rd quarter valued at approximately $28,000. AJOVista LLC acquired a new stake in shares of Accolade during the 4th quarter valued at approximately $68,000. Allspring Global Investments Holdings LLC bought a new position in Accolade during the first quarter worth $87,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Accolade by 84.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,928 shares of the company’s stock worth $126,000 after purchasing an additional 5,455 shares during the period. Institutional investors and hedge funds own 84.99% of the company’s stock.

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.