Accolade (NASDAQ:ACCD) Stock Rating Lowered by Leerink Partnrs

Accolade (NASDAQ:ACCD) was downgraded by research analysts at Leerink Partnrs from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday,Zacks.com reports.

ACCD has been the subject of several other reports. Leerink Partners reissued a “market perform” rating on shares of Accolade in a research report on Wednesday. Raymond James reissued a “market perform” rating on shares of Accolade in a report on Thursday. Wells Fargo & Company dropped their target price on Accolade from $7.00 to $6.00 and set an “equal weight” rating on the stock in a report on Friday, October 11th. Truist Financial decreased their price target on Accolade from $9.00 to $7.50 and set a “buy” rating for the company in a report on Wednesday, October 9th. Finally, Morgan Stanley dropped their price objective on Accolade from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. Ten investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $7.55.

Accolade Stock Performance

Shares of ACCD opened at $6.86 on Wednesday. The stock has a market capitalization of $552.48 million, a P/E ratio of -6.66 and a beta of 2.08. 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 firm’s fifty day simple moving average is $3.66 and its two-hundred day simple moving average is $3.83. Accolade has a 12 month low of $3.08 and a 12 month high of $15.36.

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, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $104.87 million. During the same quarter in the prior year, the firm earned ($0.43) EPS. The business’s revenue was up 9.8% on a year-over-year basis. As a group, analysts predict that Accolade will post -0.92 EPS for the current year.

Insider Activity at Accolade

In related news, CEO Rajeev Singh sold 13,357 shares of Accolade stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $3.60, for a total value of $48,085.20. Following the completion of the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders sold 40,881 shares of company stock worth $144,987. 8.20% of the stock is owned by company insiders.

Institutional Trading of Accolade

A number of hedge funds and other institutional investors have recently bought and sold shares of ACCD. Millennium Management LLC boosted 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 last quarter. Whetstone Capital Advisors LLC purchased a new stake in Accolade in the third quarter valued at approximately $3,842,000. Clearline Capital LP bought a new stake in Accolade during the second quarter valued at approximately $2,974,000. Point72 Asset Management L.P. purchased a new position in Accolade in the 3rd quarter worth approximately $2,378,000. Finally, Johnson Financial Group LLC bought a new position in shares of Accolade in the 3rd quarter worth $1,642,000. Institutional investors 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.