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

Accolade, Inc. (NASDAQ:ACCD) has been given a consensus rating of “Hold” by the thirteen analysts that are covering the company, Marketbeat reports. Eleven research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $7.55.

ACCD has been the subject of a number of research reports. Morgan Stanley reduced their price objective on Accolade from $6.00 to $5.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 17th. Stephens decreased their price target on shares of Accolade from $10.00 to $8.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Accolade in a research note on Wednesday, January 8th. Leerink Partners reissued a “market perform” rating on shares of Accolade in a research report on Wednesday, January 8th. Finally, William Blair lowered shares of Accolade from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 8th.

Insiders Place Their Bets

In other news, CEO Rajeev Singh sold 13,357 shares of the firm’s stock in a transaction on 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 directly owns 814,316 shares of the company’s stock, valued at $2,931,537.60. This trade represents a 1.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold a total of 41,962 shares of company stock valued at $152,424 in the last 90 days. 8.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Accolade

A number of hedge funds and other institutional investors have recently made changes to their positions in ACCD. Mission Creek Capital Partners Inc. bought a new stake in Accolade in the third quarter worth about $38,000. Pallas Capital Advisors LLC purchased a new stake in shares of Accolade during the 4th quarter worth approximately $38,000. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in shares of Accolade during the 3rd quarter worth approximately $46,000. Wolverine Trading LLC bought a new stake in shares of Accolade in the 3rd quarter worth approximately $51,000. Finally, Point72 Asia Singapore Pte. Ltd. lifted its stake in Accolade by 1,144.1% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 20,913 shares of the company’s stock valued at $81,000 after purchasing an additional 19,232 shares during the last quarter. 84.99% of the stock is owned by hedge funds and other institutional investors.

Accolade Trading Up 0.1 %

Shares of ACCD stock opened at $6.84 on Wednesday. Accolade has a 1-year low of $3.08 and a 1-year high of $13.93. 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 stock has a market cap of $550.87 million, a price-to-earnings ratio of -6.64 and a beta of 2.08. The stock has a 50-day moving average of $3.88 and a 200-day moving average of $3.83.

Accolade (NASDAQ:ACCD) last released its earnings results on Friday, January 10th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.01. Accolade had a negative net margin of 18.16% and a negative return on equity of 18.43%. On average, equities research analysts forecast that Accolade will post -0.92 earnings per share for the current year.

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.