Accolade (NASDAQ:ACCD) Given New $12.00 Price Target at Morgan Stanley

Accolade (NASDAQ:ACCD) had its target price lowered by Morgan Stanley from $13.00 to $12.00 in a research note published on Friday morning, Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other analysts have also weighed in on ACCD. 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 on the stock. Raymond James lifted their price target on shares of Accolade from $12.00 to $16.00 and gave the company an outperform rating in a report on Tuesday, January 9th. Wells Fargo & Company upped their price objective on shares of Accolade from $10.00 to $12.00 and gave the stock an equal weight rating in a research report on Tuesday, January 9th. William Blair restated an outperform rating on shares of Accolade in a research report on Tuesday, January 9th. Finally, Truist Financial lowered their price target on shares of Accolade from $16.00 to $14.00 and set a buy rating for the company in a report on Friday. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $14.80.

Accolade Stock Performance

Shares of Accolade stock opened at $8.19 on Friday. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.48. The company has a market cap of $633.99 million, a PE ratio of -6.16 and a beta of 2.08. The company has a 50 day moving average of $9.58 and a 200-day moving average of $9.94. Accolade has a 1-year low of $6.33 and a 1-year high of $15.36.

Accolade (NASDAQ:ACCD) last announced its quarterly earnings data on Thursday, April 25th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.01. The business had revenue of $124.80 million during the quarter, compared to the consensus estimate of $123.91 million. Accolade had a negative net margin of 24.09% and a negative return on equity of 22.57%. The company’s revenue was up 26.1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.42) earnings per share. As a group, equities research analysts forecast that Accolade will post -1.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Accolade

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Fairman Group LLC acquired a new stake in shares of Accolade during the fourth quarter worth $14,139,000. Ieq Capital LLC bought a new stake in Accolade during the fourth quarter valued at $13,387,000. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Accolade by 111.1% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,798,993 shares of the company’s stock worth $19,033,000 after acquiring an additional 946,970 shares during the period. ARK Investment Management LLC raised its position in shares of Accolade by 12.6% in the 4th quarter. ARK Investment Management LLC now owns 6,805,208 shares of the company’s stock worth $81,731,000 after acquiring an additional 762,685 shares in the last quarter. Finally, JFG Wealth Management LLC acquired a new position in shares of Accolade in the 4th quarter valued at about $5,657,000. Institutional investors and hedge funds 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 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.