Stifel Nicolaus Cuts Accolade (NASDAQ:ACCD) Price Target to $13.00

Accolade (NASDAQ:ACCD) had its price objective cut by Stifel Nicolaus from $15.00 to $13.00 in a report issued on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also commented on ACCD. Piper Sandler upped their target price on Accolade from $12.00 to $15.00 and gave the company an overweight rating in a research report on Tuesday, January 9th. Raymond James boosted their price target on Accolade from $12.00 to $16.00 and gave the company an outperform rating in a report on Tuesday, January 9th. Wells Fargo & Company boosted their price target on Accolade from $10.00 to $12.00 and gave the company an equal weight rating in a report on Tuesday, January 9th. Needham & Company LLC reissued a buy rating and issued a $17.00 price target on shares of Accolade in a report on Friday, January 19th. Finally, Barclays assumed coverage on Accolade in a report on Wednesday, January 3rd. They issued an equal weight rating and a $13.00 price target for the company. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $15.53.

Accolade Price Performance

Shares of NASDAQ ACCD opened at $9.40 on Monday. The business’s 50 day moving average price is $9.83 and its 200 day moving average price is $9.92. The firm has a market cap of $727.65 million, a P/E ratio of -5.70 and a beta of 2.08. Accolade has a 52 week low of $6.33 and a 52 week high of $17.00. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.48.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Nordea Investment Management AB grew its holdings in Accolade by 1.4% in the 3rd quarter. Nordea Investment Management AB now owns 106,764 shares of the company’s stock valued at $1,148,000 after buying an additional 1,423 shares in the last quarter. HighTower Advisors LLC purchased a new stake in Accolade in the 3rd quarter valued at $2,354,000. Vanguard Group Inc. grew its holdings in Accolade by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 5,283,858 shares of the company’s stock valued at $55,903,000 after buying an additional 157,464 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Accolade by 111.1% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,798,993 shares of the company’s stock valued at $19,033,000 after buying an additional 946,970 shares in the last quarter. Finally, Olympiad Research LP purchased a new stake in Accolade in the 3rd quarter valued at $171,000. 84.99% of the stock is owned by institutional investors and hedge funds.

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.