Accolade (NASDAQ:ACCD) Receives Hold Rating from Canaccord Genuity Group

Canaccord Genuity Group restated their hold rating on shares of Accolade (NASDAQ:ACCD) in a research report report published on Wednesday morning,Benzinga reports.

Several other analysts also recently commented on the company. Leerink Partners reaffirmed a “market perform” rating on shares of Accolade in a research note on Wednesday. Barclays decreased their price target on Accolade from $5.50 to $5.00 and set an “equal weight” rating for the company in a report on Wednesday, October 9th. Morgan Stanley dropped their price objective on shares of Accolade from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. Stephens cut their price objective on shares of Accolade from $10.00 to $8.00 and set an “overweight” rating for the company in a research report on Wednesday, October 9th. Finally, Wells Fargo & Company lowered their target price on shares of Accolade from $7.00 to $6.00 and set an “equal weight” rating on the stock in a report on Friday, October 11th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Accolade has an average rating of “Moderate Buy” and an average price target of $8.96.

Accolade Stock Up 104.8 %

ACCD stock opened at $6.86 on Wednesday. The company has a market cap of $552.48 million, a price-to-earnings ratio of -6.66 and a beta of 2.08. The company has a fifty day moving average price of $3.59 and a 200 day moving average price of $3.81. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.72 and a quick ratio of 2.72. Accolade has a 12 month low of $3.08 and a 12 month high of $15.36.

Accolade (NASDAQ:ACCD) last announced its earnings results on Tuesday, October 8th. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.14. Accolade had a negative net margin of 18.16% and a negative return on equity of 18.43%. The business had revenue of $106.40 million during the quarter, compared to analysts’ expectations of $104.87 million. During the same period in the prior year, the company earned ($0.43) earnings per share. The business’s revenue was up 9.8% compared to the same quarter last year. Sell-side analysts expect that Accolade will post -0.92 earnings per share for the current year.

Insider Buying and Selling at Accolade

In other news, CEO Rajeev Singh sold 13,357 shares of Accolade stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $3.60, for a total transaction of $48,085.20. Following the completion of the transaction, the chief executive officer now owns 814,316 shares of the company’s stock, valued at $2,931,537.60. The trade was a 1.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last three months, insiders sold 42,006 shares of company stock valued at $149,228. Corporate insiders own 8.20% of the company’s stock.

Hedge Funds Weigh In On Accolade

Hedge funds have recently added to or reduced their stakes in the business. Mission Creek Capital Partners Inc. purchased a new stake in shares of Accolade in the third quarter valued at about $38,000. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in shares of Accolade during the 3rd quarter worth approximately $46,000. Wolverine Trading LLC purchased a new stake in Accolade in the 3rd quarter valued at approximately $51,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Accolade by 22.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,373 shares of the company’s stock valued at $73,000 after buying an additional 3,789 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. increased its position in Accolade by 1,144.1% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 20,913 shares of the company’s stock worth $81,000 after buying an additional 19,232 shares in the last quarter. 84.99% of the stock is currently owned by hedge funds and other 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 intelligent technology and multimodal support from a team of advocates and clinicians, including registered nurses, physician medical directors, pharmacists, behavioral health specialists, women’s health specialists, case management specialists, expert medical opinion providers, and primary care physicians.