Accolade’s (ACCD) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Accolade (NASDAQ:ACCD) in a research note published on Monday morning, Benzinga reports. They currently have a $13.00 target price on the stock.

A number of other brokerages have also issued reports on ACCD. Truist Financial decreased their target price on shares of Accolade from $16.00 to $14.00 and set a buy rating for the company in a research note on Friday, April 26th. Canaccord Genuity Group decreased their target price 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. Guggenheim reduced their price objective on shares of Accolade from $17.00 to $13.00 and set a buy rating for the company in a research note on Wednesday, May 8th. SVB Leerink initiated coverage on shares of Accolade in a research note on Monday, February 26th. They issued an outperform rating and a $16.00 price objective for the company. Finally, Wells Fargo & Company reduced their price objective on shares of Accolade from $12.00 to $10.00 and set an equal weight rating for the company in a research note on Tuesday, April 30th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, Accolade presently has an average rating of Moderate Buy and an average price target of $14.14.

Accolade Trading Up 4.2 %

NASDAQ ACCD opened at $6.39 on Monday. Accolade has a twelve month low of $5.88 and a twelve month high of $15.36. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.64 and a current ratio of 2.64. The stock has a market cap of $511.25 million, a price-to-earnings ratio of -4.80 and a beta of 2.10. The firm’s 50 day moving average price is $7.20 and its two-hundred day moving average price is $9.70.

Accolade (NASDAQ:ACCD) last posted its quarterly earnings data on Thursday, April 25th. The company reported ($0.10) earnings per share 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 firm had revenue of $124.80 million for the quarter, compared to analysts’ expectations of $123.91 million. During the same period in the previous year, the company posted ($0.42) EPS. The company’s quarterly revenue was up 26.1% compared to the same quarter last year. Equities analysts anticipate that Accolade will post -1.23 EPS for the current year.

Insiders Place Their Bets

In other news, CAO Colin Mchugh sold 5,543 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $6.62, for a total transaction of $36,694.66. Following the transaction, the chief accounting officer now owns 50,177 shares in the company, valued at approximately $332,171.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 14,746 shares of company stock valued at $104,586 in the last quarter. Insiders own 8.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ACCD. DekaBank Deutsche Girozentrale bought a new position in shares of Accolade during the 3rd quarter worth about $28,000. AJOVista LLC bought a new stake in Accolade in the fourth quarter valued at about $68,000. Allspring Global Investments Holdings LLC bought a new stake in Accolade in the first quarter valued at about $87,000. GGV Capital LLC increased its stake in Accolade by 242.9% in the first quarter. GGV Capital LLC now owns 18,063 shares of the company’s stock valued at $189,000 after acquiring an additional 12,795 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Accolade by 39.0% in the fourth 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 during the period. 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.