Accolade’s (ACCD) Hold Rating Reaffirmed at Stifel Nicolaus

Stifel Nicolaus reiterated their hold rating on shares of Accolade (NASDAQ:ACCD) in a report published on Thursday,Benzinga reports. The firm currently has a $7.03 price target on the stock, down from their prior price target of $8.00.

A number of other research firms also recently issued reports on ACCD. Raymond James restated a “market perform” rating on shares of Accolade in a research note on Thursday. Barclays lowered their target price on shares of Accolade from $5.50 to $5.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 9th. Truist Financial reduced their price target on shares of Accolade from $9.00 to $7.50 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Stephens lowered their price objective on shares of Accolade from $10.00 to $8.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 9th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Accolade in a report on Wednesday. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $7.55.

Accolade Stock Up 104.8 %

Shares of NASDAQ:ACCD opened at $6.86 on Thursday. The firm has a 50 day simple moving average of $3.66 and a 200-day simple moving average of $3.83. Accolade has a twelve month low of $3.08 and a twelve month high of $15.36. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $552.48 million, a PE ratio of -6.66 and a beta of 2.08.

Accolade (NASDAQ:ACCD) last released its quarterly earnings data on Tuesday, October 8th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.14. Accolade had a negative net margin of 18.16% and a negative return on equity of 18.43%. The company had revenue of $106.40 million during the quarter, compared to the consensus estimate of $104.87 million. During the same quarter in the prior year, the firm posted ($0.43) earnings per share. Accolade’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, equities analysts predict that Accolade will post -0.92 EPS for the current fiscal year.

Insider Buying and Selling at Accolade

In other Accolade news, CEO Rajeev Singh sold 13,357 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $3.60, for a total transaction of $48,085.20. Following the sale, the chief executive officer now directly owns 814,316 shares in the company, valued at approximately $2,931,537.60. The trade was a 1.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders have sold 40,881 shares of company stock valued at $144,987. 8.20% of the stock is owned by corporate insiders.

Institutional Trading of Accolade

Several hedge funds and other institutional investors have recently made changes to their positions in ACCD. Millennium Management LLC lifted its position in shares of Accolade by 244.7% during the 2nd quarter. Millennium Management LLC now owns 2,623,201 shares of the company’s stock valued at $9,391,000 after acquiring an additional 1,862,178 shares during the period. Geode Capital Management LLC raised its holdings in Accolade by 4.9% during the third quarter. Geode Capital Management LLC now owns 1,782,038 shares of the company’s stock worth $6,862,000 after purchasing an additional 83,556 shares during the last quarter. Clearline Capital LP boosted its position in Accolade by 85.3% during the third quarter. Clearline Capital LP now owns 1,539,578 shares of the company’s stock worth $5,927,000 after purchasing an additional 708,794 shares in the last quarter. Whetstone Capital Advisors LLC acquired a new stake in Accolade in the third quarter valued at $3,842,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of Accolade in the third quarter valued at $2,378,000. 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 intelligent technology and multimodal support from a team of advocates and clinicians, including registered nurses, physician medical directors, pharmacists, behavioral health specialists, women’s health specialists, case management specialists, expert medical opinion providers, and primary care physicians.