Needham & Company LLC Reaffirms Buy Rating for Accolade (NASDAQ:ACCD)

Needham & Company LLC reaffirmed their buy rating on shares of Accolade (NASDAQ:ACCD) in a research report report published on Monday morning, Benzinga reports. They currently have a $8.00 price objective on the stock.

Other analysts also recently issued reports about the stock. Guggenheim decreased their price objective on shares of Accolade from $13.00 to $6.00 and set a buy rating for the company in a report on Friday, June 28th. Truist Financial lowered their price target on shares of Accolade from $14.00 to $9.00 and set a buy rating on the stock in a report on Friday, June 28th. Barclays cut their target price on Accolade from $11.00 to $5.50 and set an equal weight rating for the company in a research report on Friday, June 28th. Canaccord Genuity Group cut their price target on shares of Accolade from $16.00 to $13.00 and set a buy rating for the company in a report on Friday, June 28th. Finally, Stifel Nicolaus decreased their target price on Accolade from $13.00 to $8.00 and set a buy rating on the stock in a report on Friday, June 28th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $9.38.

Accolade Trading Down 0.8 %

Accolade stock opened at $3.87 on Monday. The firm has a market cap of $309.63 million, a price-to-earnings ratio of -3.34 and a beta of 1.99. Accolade has a 1 year low of $3.35 and a 1 year high of $15.36. The firm’s 50 day moving average price is $4.01 and its two-hundred day moving average price is $5.78. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.80 and a current ratio of 2.80.

Accolade (NASDAQ:ACCD) last posted its quarterly earnings results on Tuesday, October 8th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.14. Accolade had a negative return on equity of 20.30% and a negative net margin of 20.62%. The firm had revenue of $106.40 million for the quarter, compared to analyst estimates of $104.87 million. During the same period in the previous year, the firm earned ($0.43) earnings per share. Accolade’s quarterly revenue was up 9.8% on a year-over-year basis. On average, research analysts predict that Accolade will post -1.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ACCD. ARK Investment Management LLC boosted its position in shares of Accolade by 0.5% during the second quarter. ARK Investment Management LLC now owns 5,641,448 shares of the company’s stock worth $20,196,000 after purchasing an additional 28,405 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Accolade by 1.4% in the first quarter. Vanguard Group Inc. now owns 5,403,256 shares of the company’s stock worth $56,626,000 after acquiring an additional 77,044 shares in the last quarter. Bellevue Group AG lifted its holdings in shares of Accolade by 6.6% during the 1st quarter. Bellevue Group AG now owns 4,804,514 shares of the company’s stock valued at $50,351,000 after purchasing an additional 297,110 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Accolade by 244.7% during the 2nd quarter. Millennium Management LLC now owns 2,623,201 shares of the company’s stock valued at $9,391,000 after purchasing an additional 1,862,178 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in Accolade by 18.5% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,011,931 shares of the company’s stock worth $7,203,000 after purchasing an additional 314,371 shares in the last quarter. 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.