Stifel Nicolaus Reaffirms Hold Rating for Accolade (NASDAQ:ACCD)

Accolade (NASDAQ:ACCD)‘s stock had its “hold” rating reiterated by equities researchers at Stifel Nicolaus in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $7.03 price target on the stock, down from their previous price target of $8.00. Stifel Nicolaus’ target price would suggest a potential upside of 2.48% from the stock’s current price.

Other research analysts also recently issued research reports about the company. Morgan Stanley dropped their price objective on Accolade from $6.00 to $5.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. Truist Financial lowered their price target on Accolade from $9.00 to $7.50 and set a “buy” rating for the company in a report on Wednesday, October 9th. Leerink Partners restated a “market perform” rating on shares of Accolade in a research report on Wednesday. Canaccord Genuity Group reaffirmed a “hold” rating on shares of Accolade in a research report on Wednesday. Finally, Stephens reduced their price target 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. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $8.88.

Accolade Stock Up 104.8 %

ACCD traded up $3.51 on Thursday, hitting $6.86. 24,724,925 shares of the company were exchanged, compared to its average volume of 5,729,745. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 0.49. 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 firm has a 50-day moving average price of $3.59 and a two-hundred day moving average price of $3.81. Accolade has a twelve month low of $3.08 and a twelve month high of $15.36.

Accolade (NASDAQ:ACCD) last issued its 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 net margin of 18.16% and a negative return on equity of 18.43%. The firm had revenue of $106.40 million for the quarter, compared to analysts’ expectations of $104.87 million. During the same quarter last year, the company earned ($0.43) earnings per share. The firm’s revenue was up 9.8% compared to the same quarter last year. On average, equities analysts predict that Accolade will post -0.92 earnings per share for the current year.

Insider Activity at Accolade

In other Accolade news, CEO Rajeev Singh sold 13,357 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $3.60, for a total transaction of $48,085.20. Following the sale, the chief executive officer now directly owns 814,316 shares in the company, valued at approximately $2,931,537.60. The trade was a 1.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 42,006 shares of company stock worth $149,228 in the last three months. Insiders own 8.20% of the company’s stock.

Institutional Trading of Accolade

Institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers boosted its position in Accolade by 22.5% during the second quarter. Rhumbline Advisers now owns 124,351 shares of the company’s stock worth $445,000 after purchasing an additional 22,857 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Accolade in the 2nd quarter worth about $1,229,000. Blair William & Co. IL grew its stake in Accolade by 73.1% in the 2nd quarter. Blair William & Co. IL now owns 79,834 shares of the company’s stock valued at $286,000 after acquiring an additional 33,725 shares during the last quarter. XTX Topco Ltd increased its holdings in Accolade by 64.4% during the 2nd quarter. XTX Topco Ltd now owns 49,454 shares of the company’s stock valued at $177,000 after acquiring an additional 19,369 shares in the last quarter. Finally, Inspire Investing LLC raised its position in Accolade by 179.7% during the second quarter. Inspire Investing LLC now owns 96,021 shares of the company’s stock worth $344,000 after acquiring an additional 61,688 shares during the last quarter. Hedge funds and other 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 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.