Accolade (NASDAQ:ACCD) Given New $12.00 Price Target at Morgan Stanley

Accolade (NASDAQ:ACCD) had its price target lowered by Morgan Stanley from $13.00 to $12.00 in a report issued on Friday morning, Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other research analysts also recently issued reports on ACCD. Canaccord Genuity Group decreased their price objective on Accolade from $18.00 to $16.00 and set a buy rating for the company in a report on Friday. Wells Fargo & Company increased their price objective on Accolade from $10.00 to $12.00 and gave the stock an equal weight rating in a report on Tuesday, January 9th. Needham & Company LLC decreased their price objective on Accolade from $17.00 to $13.00 and set a buy rating for the company in a report on Friday. SVB Leerink began coverage on Accolade in a research note on Monday, February 26th. They issued an outperform rating and a $16.00 price target for the company. Finally, Piper Sandler raised their price target on Accolade from $12.00 to $15.00 and gave the company an overweight rating in a research note on Tuesday, January 9th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $14.80.

Accolade Stock Down 14.1 %

Shares of Accolade stock opened at $7.89 on Friday. Accolade has a 1 year low of $6.33 and a 1 year high of $17.00. The business has a 50-day moving average of $9.66 and a two-hundred day moving average of $9.91. The company has a market capitalization of $610.75 million, a P/E ratio of -4.78 and a beta of 2.08. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.35 and a quick ratio of 2.35.

Accolade (NASDAQ:ACCD) last posted its quarterly earnings data on Thursday, April 25th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.01. The business had revenue of $124.80 million during the quarter, compared to the consensus estimate of $123.91 million. Accolade had a negative return on equity of 27.27% and a negative net margin of 31.59%. Accolade’s quarterly revenue was up 26.1% on a year-over-year basis. During the same period last year, the company earned ($0.42) earnings per share. As a group, equities analysts predict that Accolade will post -1.33 EPS for the current year.

Hedge Funds Weigh In On Accolade

Several hedge funds and other institutional investors have recently modified their holdings of ACCD. AE Wealth Management LLC bought a new stake in Accolade during the 3rd quarter worth $400,000. Handelsbanken Fonder AB grew its position in Accolade by 14.8% during the 3rd quarter. Handelsbanken Fonder AB now owns 16,765 shares of the company’s stock worth $177,000 after acquiring an additional 2,165 shares during the last quarter. Raymond James & Associates bought a new stake in Accolade during the 3rd quarter worth $272,000. Bank of New York Mellon Corp grew its position in Accolade by 2.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 230,092 shares of the company’s stock worth $2,434,000 after acquiring an additional 6,069 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Accolade by 84.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,928 shares of the company’s stock worth $126,000 after acquiring an additional 5,455 shares during 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.