Accolade (NASDAQ:ACCD) Given New $14.00 Price Target at Truist Financial

Accolade (NASDAQ:ACCD) had its price target dropped by equities research analysts at Truist Financial from $16.00 to $14.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price objective points to a potential upside of 75.22% from the company’s current price.

ACCD has been the subject of several other research reports. Canaccord Genuity Group dropped their price objective on shares of Accolade from $18.00 to $16.00 and set a “buy” rating for the company in a report on Friday. Leerink Partnrs reaffirmed an “outperform” rating on shares of Accolade in a report on Monday, February 26th. Barclays reduced their price objective on Accolade from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Friday. SVB Leerink started coverage on Accolade in a research note on Monday, February 26th. They issued an “outperform” rating and a $16.00 target price for the company. Finally, Wells Fargo & Company lifted 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. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $14.93.

Accolade Price Performance

Shares of ACCD traded down $1.20 during mid-day trading on Friday, reaching $7.99. The company had a trading volume of 629,477 shares, compared to its average volume of 716,580. The company’s 50-day moving average is $9.75 and its 200-day moving average is $9.92. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.35 and a quick ratio of 2.35. The company has a market capitalization of $618.51 million, a P/E ratio of -5.02 and a beta of 2.08. Accolade has a twelve month low of $6.33 and a twelve month high of $17.00.

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

Institutional Investors Weigh In On Accolade

Several hedge funds have recently bought and sold shares of ACCD. BluePath Capital Management LLC bought a new stake in shares of Accolade in the 3rd quarter valued at $28,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Accolade during the third quarter worth about $28,000. AJOVista LLC bought a new position in shares of Accolade during the 4th quarter valued at about $68,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Accolade in the 1st quarter valued at approximately $87,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position 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 purchasing an additional 5,455 shares during the period. 84.99% of the stock is currently 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.