Accolade, Inc. (NASDAQ:ACCD) Given Average Recommendation of “Hold” by Brokerages

Accolade, Inc. (NASDAQ:ACCD) has been given a consensus recommendation of “Hold” by the thirteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Twelve equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $7.46.

Several research firms have recently issued reports on ACCD. Leerink Partners reissued a “market perform” rating on shares of Accolade in a research note on Wednesday, January 8th. 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 report on Tuesday, December 17th. Canaccord Genuity Group reaffirmed a “hold” rating on shares of Accolade in a research note on Wednesday, January 8th. Needham & Company LLC reissued a “hold” rating on shares of Accolade in a research note on Wednesday, January 8th. Finally, Stephens restated an “equal weight” rating and set a $7.03 price objective on shares of Accolade in a research report on Wednesday.

Accolade Price Performance

Accolade stock opened at $6.90 on Friday. The business’s 50-day moving average price is $5.38 and its 200 day moving average price is $4.35. The company has a quick ratio of 2.63, a current ratio of 2.63 and a debt-to-equity ratio of 0.67. The firm has a market cap of $562.97 million, a price-to-earnings ratio of -3.07 and a beta of 2.20. Accolade has a 52 week low of $3.08 and a 52 week high of $13.47.

Accolade (NASDAQ:ACCD) last posted its earnings results on Friday, January 10th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.01. Accolade had a negative net margin of 40.36% and a negative return on equity of 20.74%. As a group, sell-side analysts anticipate that Accolade will post -1.2 earnings per share for the current year.

Insider Transactions at Accolade

In related news, CEO Rajeev Singh sold 13,357 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $3.60, for a total value of $48,085.20. Following the completion of the sale, the chief executive officer now owns 814,316 shares of the company’s stock, valued at approximately $2,931,537.60. This trade represents a 1.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 41,127 shares of company stock worth $164,674 in the last ninety days. Insiders own 8.20% of the company’s stock.

Institutional Trading of Accolade

Several large investors have recently added to or reduced their stakes in the stock. Mission Creek Capital Partners Inc. acquired a new position in shares of Accolade during the 3rd quarter valued at about $38,000. Pallas Capital Advisors LLC purchased a new position in Accolade during the fourth quarter worth about $38,000. Boothbay Fund Management LLC acquired a new position in Accolade in the 4th quarter valued at about $43,000. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in shares of Accolade in the 3rd quarter valued at approximately $46,000. Finally, Wolverine Trading LLC acquired a new stake in shares of Accolade during the 3rd quarter worth approximately $51,000. 84.99% of the stock is currently owned by hedge funds and other institutional investors.

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.