Accolade (NASDAQ:ACCD) Stock Price Down 4.6%

Shares of Accolade, Inc. (NASDAQ:ACCD) traded down 4.6% during mid-day trading on Tuesday . The stock traded as low as $6.43 and last traded at $6.43. 176,695 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 700,665 shares. The stock had previously closed at $6.74.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Truist Financial decreased their price target on Accolade from $16.00 to $14.00 and set a “buy” rating for the company in a report on Friday, April 26th. Wells Fargo & Company cut their target price on shares of Accolade from $12.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 30th. Canaccord Genuity Group decreased their price target on shares of Accolade from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, April 26th. Needham & Company LLC dropped their price objective on shares of Accolade from $17.00 to $13.00 and set a “buy” rating on the stock in a report on Friday, April 26th. Finally, SVB Leerink assumed coverage on Accolade in a research note on Monday, February 26th. They issued an “outperform” rating and a $16.00 target price for the company. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $14.14.

Accolade Stock Down 0.9 %

The company has a market capitalization of $505.40 million, a PE ratio of -4.85 and a beta of 2.10. The stock’s fifty day moving average is $7.81 and its two-hundred day moving average is $9.92. The company has a current ratio of 2.64, a quick ratio of 2.64 and a debt-to-equity ratio of 0.47.

Accolade (NASDAQ:ACCD) last announced its quarterly earnings data on Thursday, April 25th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.01. Accolade had a negative net margin of 24.09% and a negative return on equity of 22.53%. The business had revenue of $124.80 million for the quarter, compared to analyst estimates of $123.91 million. During the same quarter in the previous year, the firm posted ($0.42) earnings per share. The company’s revenue for the quarter was up 26.1% on a year-over-year basis. As a group, analysts predict that Accolade, Inc. will post -1.24 EPS for the current year.

Insider Activity at Accolade

In other Accolade news, CAO Colin Mchugh sold 5,543 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $6.62, for a total transaction of $36,694.66. Following the completion of the transaction, the chief accounting officer now directly owns 50,177 shares of the company’s stock, valued at $332,171.74. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last quarter, insiders have sold 15,422 shares of company stock worth $110,994. Insiders own 8.30% of the company’s stock.

Institutional Investors Weigh In On Accolade

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Barclays PLC increased its stake in shares of Accolade by 10.8% in the third quarter. Barclays PLC now owns 37,630 shares of the company’s stock worth $398,000 after purchasing an additional 3,671 shares in the last quarter. Swiss National Bank boosted its stake in Accolade by 4.9% in the 3rd quarter. Swiss National Bank now owns 149,600 shares of the company’s stock worth $1,583,000 after purchasing an additional 7,000 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Accolade by 8.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 521,423 shares of the company’s stock valued at $5,517,000 after buying an additional 41,043 shares in the last quarter. HighTower Advisors LLC bought a new stake in shares of Accolade during the third quarter valued at about $2,354,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of Accolade in the third quarter worth about $28,000. 84.99% of the stock is currently owned by institutional investors.

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.