Accolade (NASDAQ:ACCD) Given New $11.00 Price Target at Barclays

Accolade (NASDAQ:ACCD) had its target price trimmed by Barclays from $13.00 to $11.00 in a report released on Friday, MarketBeat Ratings reports. The firm currently has an equal weight rating on the stock.

A number of other brokerages have also recently issued reports on ACCD. Stifel Nicolaus reduced their price objective on shares of Accolade from $15.00 to $13.00 and set a buy rating for the company in a research note on Monday, April 22nd. Truist Financial raised their price target on Accolade from $15.00 to $16.00 and gave the company a buy rating in a report on Tuesday, January 9th. SVB Leerink started coverage on Accolade in a research note on Monday, February 26th. They issued an outperform rating and a $16.00 price objective for the company. Wells Fargo & Company increased their target price on Accolade from $10.00 to $12.00 and gave the stock an equal weight rating in a research report on Tuesday, January 9th. Finally, Raymond James boosted their price target on Accolade from $12.00 to $16.00 and gave the stock an outperform rating in a report on Tuesday, January 9th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $14.80.

Accolade Price Performance

NASDAQ ACCD opened at $8.19 on Friday. The business’s fifty day moving average is $9.58 and its 200 day moving average is $9.94. Accolade has a fifty-two week low of $6.33 and a fifty-two week high of $15.36. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.35 and a current ratio of 2.35. The company has a market capitalization of $633.99 million, a PE ratio of -6.16 and a beta of 2.08.

Accolade (NASDAQ:ACCD) last posted its quarterly earnings data on Thursday, April 25th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.01. The firm had revenue of $124.80 million for the quarter, compared to the consensus estimate of $123.91 million. Accolade had a negative return on equity of 22.57% and a negative net margin of 24.09%. The business’s revenue for the quarter was up 26.1% compared to the same quarter last year. During the same quarter last year, the company earned ($0.42) earnings per share. Sell-side analysts predict that Accolade will post -1.2 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. BluePath Capital Management LLC purchased a new stake in Accolade during the third quarter valued at $28,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Accolade in the 3rd quarter worth about $28,000. AJOVista LLC purchased a new stake in shares of Accolade during the 4th quarter valued at about $68,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Accolade during the 1st quarter valued at about $87,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Accolade by 84.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,928 shares of the company’s stock valued at $126,000 after acquiring an additional 5,455 shares during the last quarter. 84.99% of the stock is owned by hedge funds and other institutional investors.

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.