Stifel Nicolaus Trims Accolade (NASDAQ:ACCD) Target Price to $8.00

Accolade (NASDAQ:ACCD) had its price target dropped by equities research analysts at Stifel Nicolaus from $13.00 to $8.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ target price points to a potential upside of 117.98% from the stock’s previous close.

Several other brokerages have also recently commented on ACCD. Canaccord Genuity Group lowered their price target on shares of Accolade from $16.00 to $13.00 and set a “buy” rating for the company in a research report on Friday. Wells Fargo & Company decreased their price objective on shares of Accolade from $12.00 to $10.00 and set an “equal weight” rating for the company in a report on Tuesday, April 30th. Barclays decreased their price objective on shares of Accolade from $11.00 to $5.50 and set an “equal weight” rating for the company in a report on Friday. Truist Financial decreased their price objective on shares of Accolade from $14.00 to $9.00 and set a “buy” rating for the company in a report on Friday. Finally, Guggenheim cut their price target on shares of Accolade from $13.00 to $6.00 and set a “buy” rating on the stock in a research note on Friday. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Accolade has an average rating of “Moderate Buy” and a consensus target price of $11.89.

Accolade Price Performance

ACCD traded down $2.72 during midday trading on Friday, hitting $3.67. The company had a trading volume of 8,014,033 shares, compared to its average volume of 796,253. 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 company has a market capitalization of $293.64 million, a PE ratio of -2.76 and a beta of 2.10. Accolade has a twelve month low of $3.60 and a twelve month high of $15.36. The firm’s 50-day simple moving average is $7.20 and its 200-day simple moving average is $9.70.

Accolade (NASDAQ:ACCD) last posted its quarterly earnings data on Thursday, June 27th. The company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.48) by $0.13. The firm had revenue of $110.50 million during the quarter, compared to analysts’ expectations of $105.22 million. Accolade had a negative net margin of 24.09% and a negative return on equity of 22.53%. The company’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same quarter last year, the company posted ($0.52) EPS. Equities research analysts predict that Accolade will post -1.23 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Colin Mchugh sold 5,543 shares of the business’s stock in a transaction on 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 directly owns 50,177 shares in the company, valued at $332,171.74. The sale was disclosed in a filing with the SEC, which is available through this link. Over the last three months, insiders have sold 14,746 shares of company stock worth $104,586. Insiders own 8.30% of the company’s stock.

Hedge Funds Weigh In On Accolade

Institutional investors and hedge funds have recently modified their holdings of the stock. AJOVista LLC acquired a new position in shares of Accolade in the fourth quarter valued at about $68,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Accolade in the first quarter valued at about $87,000. GGV Capital LLC grew its stake in shares of 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of 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 in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Accolade by 15.3% in the first 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. 84.99% of the stock is currently owned by institutional investors and hedge funds.

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 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.