Accolade (NASDAQ:ACCD) Receives “Hold” Rating from Stifel Nicolaus

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

ACCD has been the subject of several other reports. Barclays lowered their target price on shares of Accolade from $5.50 to $5.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 9th. Wells Fargo & Company reduced their target price on Accolade from $7.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Friday, October 11th. Leerink Partners restated a “market perform” rating on shares of Accolade in a report on Wednesday. Raymond James reiterated a “market perform” rating on shares of Accolade in a report on Thursday. Finally, Stephens lowered their target price on shares of Accolade from $10.00 to $8.00 and set an “overweight” rating for the company in a report on Wednesday, October 9th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $8.88.

Accolade Price Performance

Accolade stock traded up $3.51 during midday trading on Thursday, reaching $6.86. 24,724,925 shares of the company were exchanged, compared to its average volume of 5,729,745. The firm’s 50-day simple moving average is $3.59 and its 200-day simple moving average is $3.81. Accolade has a 1 year low of $3.08 and a 1 year high of $15.36. The company has a market capitalization of $552.48 million, a price-to-earnings ratio of -6.66 and a beta of 2.08. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.72 and a current ratio of 2.72.

Accolade (NASDAQ:ACCD) last issued its quarterly earnings results on Tuesday, October 8th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.14. The business had revenue of $106.40 million during the quarter, compared to the consensus estimate of $104.87 million. Accolade had a negative net margin of 18.16% and a negative return on equity of 18.43%. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.43) earnings per share. On average, analysts anticipate that Accolade will post -0.92 EPS for the current year.

Insider Activity

In other Accolade news, CEO Rajeev Singh sold 13,357 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $3.60, for a total value of $48,085.20. Following the completion of the transaction, the chief executive officer now directly owns 814,316 shares of the company’s stock, valued at $2,931,537.60. This represents a 1.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last quarter, insiders sold 42,006 shares of company stock worth $149,228. 8.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ACCD. Mission Creek Capital Partners Inc. acquired a new position in shares of Accolade in the 3rd quarter worth approximately $38,000. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in Accolade during the third quarter valued at $46,000. Wolverine Trading LLC acquired a new stake in shares of Accolade during the third quarter worth $51,000. Point72 Asia Singapore Pte. Ltd. lifted its position in shares of Accolade by 1,144.1% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 20,913 shares of the company’s stock worth $81,000 after buying an additional 19,232 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new position in shares of Accolade in the 3rd quarter valued at about $96,000. Hedge funds and other institutional investors own 84.99% of the company’s stock.

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 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.