Accolade (NASDAQ:ACCD) Shares Gap Up – Time to Buy?

Accolade, Inc. (NASDAQ:ACCD) shares gapped up prior to trading on Wednesday . The stock had previously closed at $3.35, but opened at $6.88. Accolade shares last traded at $6.88, with a volume of 5,400,398 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on ACCD shares. Barclays decreased their price target on Accolade from $5.50 to $5.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 9th. Needham & Company LLC restated a “buy” rating and issued a $8.00 target price on shares of Accolade in a research note on Monday, October 7th. Truist Financial reduced their price target on shares of Accolade from $9.00 to $7.50 and set a “buy” rating on the stock 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 for the company in a research report on Wednesday, October 9th. Finally, Wells Fargo & Company reduced their target price on shares of Accolade from $7.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Friday, October 11th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $8.96.

Accolade Stock Up 104.8 %

The firm’s 50-day simple moving average is $3.52 and its 200 day simple moving average is $3.79. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.72 and a current ratio of 2.72. The company has a market cap of $552.48 million, a P/E 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) EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.14. Accolade had a negative return on equity of 18.43% and a negative net margin of 18.16%. The business 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 company posted ($0.43) earnings per share. The firm’s revenue was up 9.8% on a year-over-year basis. On average, research analysts forecast that Accolade, Inc. will post -0.92 earnings per share for the current fiscal year.

Insider Transactions at Accolade

In other Accolade news, CEO Rajeev Singh sold 13,357 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 814,316 shares in the company, 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 SEC, which is accessible through the SEC website. In the last ninety days, insiders sold 42,006 shares of company stock worth $149,228. 8.20% of the stock is currently owned by company insiders.

Institutional Trading of Accolade

A number of large investors have recently made changes to their positions in ACCD. Whetstone Capital Advisors LLC acquired a new position in shares of Accolade in the third quarter valued at approximately $3,842,000. Clearline Capital LP acquired a new position in Accolade in the 2nd quarter worth $2,974,000. Cubist Systematic Strategies LLC increased its holdings in Accolade by 273.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 260,040 shares of the company’s stock worth $931,000 after purchasing an additional 190,396 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Accolade in the 2nd quarter valued at about $1,229,000. Finally, Johnson Financial Group LLC acquired a new position in shares of Accolade during the third quarter worth about $1,642,000. 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 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.