Accolade (NASDAQ:ACCD) Price Target Lowered to $11.00 at Barclays

Accolade (NASDAQ:ACCD) had its price target reduced by Barclays from $13.00 to $11.00 in a research note published on Friday, MarketBeat.com reports. Barclays currently has an equal weight rating on the stock.

ACCD has been the topic of several other reports. SVB Leerink began coverage on shares of Accolade in a report on Monday, February 26th. They set an outperform rating and a $16.00 price objective on the stock. Needham & Company LLC restated a buy rating and issued a $17.00 target price on shares of Accolade in a research note on Friday, January 19th. Truist Financial raised their target price on shares of Accolade from $15.00 to $16.00 and gave the company a buy rating in a research note on Tuesday, January 9th. William Blair restated an outperform rating on shares of Accolade in a research note on Tuesday, January 9th. Finally, Stifel Nicolaus lowered their target price 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. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $14.80.

Accolade Stock Performance

Shares of ACCD stock opened at $7.89 on Friday. The firm has a market cap of $610.75 million, a price-to-earnings ratio of -4.78 and a beta of 2.08. The company’s 50 day moving average is $9.66 and its 200 day moving average is $9.91. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.48. Accolade has a 52-week low of $6.33 and a 52-week high of $17.00.

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

Institutional Inflows and Outflows

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

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.