Accolade (NASDAQ:ACCD) PT Lowered to $13.00 at Canaccord Genuity Group

Accolade (NASDAQ:ACCD) had its target price decreased by Canaccord Genuity Group from $16.00 to $13.00 in a research report sent to investors on Friday morning, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Several other equities research analysts have also issued reports on ACCD. Needham & Company LLC reaffirmed a buy rating and set a $13.00 target price on shares of Accolade in a research report on Monday, June 24th. Guggenheim cut their price target on Accolade from $17.00 to $13.00 and set a buy rating for the company in a research note on Wednesday, May 8th. Stifel Nicolaus cut their price target on Accolade from $15.00 to $13.00 and set a buy rating for the company in a research note on Monday, April 22nd. Morgan Stanley cut their price target on Accolade from $13.00 to $12.00 and set an equal weight rating for the company in a research note on Friday, April 26th. Finally, Barclays cut their price target on Accolade from $13.00 to $11.00 and set an equal weight rating for the company in a research note on Friday, April 26th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $11.65.

Accolade Trading Down 1.1 %

Shares of Accolade stock opened at $3.54 on Friday. Accolade has a 1 year low of $3.48 and a 1 year high of $15.36. The firm has a market cap of $283.24 million, a PE ratio of -3.05 and a beta of 2.00. The stock has a fifty day moving average price of $7.09 and a 200-day moving average price of $9.66. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.80 and a quick ratio of 2.80.

Accolade (NASDAQ:ACCD) last announced its earnings results on Thursday, June 27th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.48) by $0.13. Accolade had a negative return on equity of 20.30% and a negative net margin of 20.62%. The firm had revenue of $110.50 million during the quarter, compared to analyst estimates of $105.22 million. During the same period last year, the firm posted ($0.52) EPS. The business’s revenue was up 18.6% compared to the same quarter last year. Equities research analysts anticipate that Accolade will post -1.23 EPS for the current year.

Insiders Place Their Bets

In other Accolade news, CAO Colin Mchugh sold 5,543 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $6.62, for a total value of $36,694.66. Following the completion of the transaction, the chief accounting officer now owns 50,177 shares in the company, valued at approximately $332,171.74. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 14,303 shares of company stock worth $100,342 in the last quarter. 8.20% of the stock is owned by company insiders.

Institutional Trading of Accolade

Several institutional investors and hedge funds have recently modified their holdings of the business. Swiss National Bank raised its holdings in shares of Accolade by 1.7% in the 1st quarter. Swiss National Bank now owns 137,500 shares of the company’s stock valued at $1,441,000 after acquiring an additional 2,300 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Accolade by 15.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,540 shares of the company’s stock valued at $205,000 after acquiring an additional 2,586 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Accolade by 39.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,584 shares of the company’s stock valued at $199,000 after acquiring an additional 4,656 shares in the last quarter. AJOVista LLC purchased a new stake in shares of Accolade in the 4th quarter valued at about $68,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of Accolade in the 1st quarter valued at about $87,000. Hedge funds and other institutional investors own 84.99% of the company’s stock.

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 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.