Accolade, Inc. (NASDAQ:ACCD) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Accolade, Inc. (NASDAQ:ACCD) have been assigned an average rating of “Hold” from the thirteen ratings firms that are covering the firm, MarketBeat reports. Twelve research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $7.55.

Several analysts have recently weighed in on ACCD shares. Leerink Partners restated a “market perform” rating on shares of Accolade in a report on Wednesday, January 8th. Truist Financial cut shares of Accolade from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Barclays decreased their price objective on Accolade from $5.50 to $5.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 9th. Raymond James reiterated a “market perform” rating on shares of Accolade in a report on Thursday, January 9th. Finally, Wells Fargo & Company decreased their price target on shares of Accolade from $7.00 to $6.00 and set an “equal weight” rating for the company in a report on Friday, October 11th.

Accolade Stock Down 0.1 %

ACCD stock opened at $6.88 on Wednesday. The firm’s 50-day simple moving average is $4.15 and its 200 day simple moving average is $3.93. Accolade has a fifty-two week low of $3.08 and a fifty-two week high of $13.93. The stock has a market cap of $561.34 million, a PE ratio of -3.06 and a beta of 2.08. The company has a quick ratio of 2.63, a current ratio of 2.63 and a debt-to-equity ratio of 0.67.

Accolade (NASDAQ:ACCD) last issued its quarterly earnings results on Friday, January 10th. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.01. Accolade had a negative return on equity of 20.74% and a negative net margin of 40.36%. As a group, sell-side analysts predict that Accolade will post -0.92 EPS for the current year.

Insider Transactions at Accolade

In other news, CEO Rajeev Singh sold 13,357 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $3.60, for a total transaction of $48,085.20. Following the completion of the sale, the chief executive officer now owns 814,316 shares in the company, valued at approximately $2,931,537.60. This represents a 1.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 41,947 shares of company stock worth $154,439 in the last 90 days. 8.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Accolade

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mission Creek Capital Partners Inc. acquired a new position in Accolade during the third quarter valued at approximately $38,000. Pallas Capital Advisors LLC acquired a new position in Accolade in the 4th quarter valued at $38,000. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in Accolade in the 3rd quarter worth $46,000. Wolverine Trading LLC acquired a new position in Accolade during the 3rd quarter worth $51,000. Finally, Point72 Asia Singapore Pte. Ltd. boosted its holdings in Accolade by 1,144.1% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 20,913 shares of the company’s stock valued at $81,000 after acquiring an additional 19,232 shares during the period. 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 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.