Accolade (NASDAQ:ACCD) Price Target Cut to $6.00 by Analysts at Guggenheim

Accolade (NASDAQ:ACCD) had its target price trimmed by Guggenheim from $13.00 to $6.00 in a research report released on Friday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other analysts also recently issued reports on the company. Truist Financial reduced their price objective on Accolade from $14.00 to $9.00 and set a buy rating on the stock in a research report on Friday. Morgan Stanley reduced their price objective on Accolade from $12.00 to $6.00 and set an equal weight rating on the stock in a research report on Friday. Stifel Nicolaus reduced their target price on Accolade from $15.00 to $13.00 and set a buy rating on the stock in a research report on Monday, April 22nd. Wells Fargo & Company reduced their target price on Accolade from $12.00 to $10.00 and set an equal weight rating on the stock in a research report on Tuesday, April 30th. Finally, Needham & Company LLC reiterated a buy rating and set a $13.00 target price on shares of Accolade in a research report on Monday, June 24th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $11.65.

Accolade Trading Down 1.1 %

Shares of ACCD stock opened at $3.54 on Friday. The business’s fifty day moving average price is $7.09 and its 200 day moving average price is $9.66. Accolade has a 1-year low of $3.48 and a 1-year high of $15.36. The firm has a market capitalization of $283.24 million, a PE ratio of -3.05 and a beta of 2.00. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.80 and a quick ratio of 2.80.

Accolade (NASDAQ:ACCD) last posted its earnings results 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 company had revenue of $110.50 million for the quarter, compared to analyst estimates of $105.22 million. Accolade had a negative return on equity of 20.30% and a negative net margin of 20.62%. Accolade’s revenue was up 18.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.52) earnings per share. As a group, sell-side analysts forecast that Accolade will post -1.23 EPS for the current fiscal year.

Insider Transactions at Accolade

In other news, CAO Colin Mchugh sold 5,543 shares of the stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $6.62, for a total value of $36,694.66. Following the completion of the sale, the chief accounting officer now owns 50,177 shares in the company, valued at $332,171.74. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 14,303 shares of company stock worth $100,342 in the last three months. 8.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Accolade

A number of large investors have recently modified their holdings of ACCD. ARK Investment Management LLC grew its stake in Accolade by 12.6% during the 4th quarter. ARK Investment Management LLC now owns 6,805,208 shares of the company’s stock valued at $81,731,000 after purchasing an additional 762,685 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Accolade by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 5,403,256 shares of the company’s stock worth $56,626,000 after purchasing an additional 77,044 shares during the last quarter. Bellevue Group AG lifted its holdings in shares of Accolade by 6.6% in the 1st quarter. Bellevue Group AG now owns 4,804,514 shares of the company’s stock worth $50,351,000 after purchasing an additional 297,110 shares during the last quarter. Rock Springs Capital Management LP lifted its holdings in shares of Accolade by 3.3% in the 3rd quarter. Rock Springs Capital Management LP now owns 2,913,000 shares of the company’s stock worth $30,820,000 after purchasing an additional 93,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Accolade by 2.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,921,676 shares of the company’s stock worth $23,083,000 after purchasing an additional 50,311 shares during the last quarter. Institutional investors and hedge funds 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.