Accolade (NASDAQ:ACCD) Price Target Lowered to $14.00 at Truist Financial

Accolade (NASDAQ:ACCD) had its target price reduced by equities researchers at Truist Financial from $16.00 to $14.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s target price indicates a potential upside of 75.22% from the company’s current price.

ACCD has been the subject of a number of other reports. Piper Sandler upped their price target on Accolade from $12.00 to $15.00 and gave the company an “overweight” rating in a research report on Tuesday, January 9th. Wells Fargo & Company boosted their price target on shares of Accolade from $10.00 to $12.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 9th. SVB Leerink initiated coverage on shares of Accolade in a report on Monday, February 26th. They issued an “outperform” rating and a $16.00 price objective on the stock. Raymond James upped their price objective on Accolade from $12.00 to $16.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 9th. Finally, Barclays lowered their price target on Accolade from $13.00 to $11.00 and set an “equal weight” rating on the stock in a report on Friday. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Accolade presently has a consensus rating of “Moderate Buy” and an average target price of $14.93.

Accolade Stock Down 13.1 %

ACCD traded down $1.20 on Friday, hitting $7.99. The company had a trading volume of 629,477 shares, compared to its average volume of 716,580. The stock has a market capitalization of $618.51 million, a price-to-earnings ratio of -5.02 and a beta of 2.08. The stock has a fifty day moving average price of $9.75 and a 200-day moving average price of $9.92. Accolade has a 12-month low of $6.33 and a 12-month high of $17.00. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.35 and a current ratio of 2.35.

Accolade (NASDAQ:ACCD) last announced its earnings results on Thursday, April 25th. The company reported ($0.10) earnings per share 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 for the quarter, compared to the consensus estimate of $123.91 million. During the same period in the previous year, the business earned ($0.42) EPS. The firm’s revenue for the quarter was up 26.1% on a year-over-year basis. Analysts predict that Accolade will post -1.33 EPS for the current fiscal year.

Hedge Funds Weigh In On Accolade

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. ARK Investment Management LLC boosted its holdings in shares of Accolade by 12.6% in the fourth quarter. ARK Investment Management LLC now owns 6,805,208 shares of the company’s stock valued at $81,731,000 after acquiring an additional 762,685 shares in the last quarter. Vanguard Group Inc. boosted its stake in Accolade by 3.1% during the 3rd 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 in the last quarter. Rock Springs Capital Management LP increased its position in shares of Accolade by 3.3% during the 3rd quarter. Rock Springs Capital Management LP now owns 2,913,000 shares of the company’s stock valued at $30,820,000 after purchasing an additional 93,000 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Accolade by 2.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,921,676 shares of the company’s stock worth $23,083,000 after buying an additional 50,311 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Accolade by 111.1% in 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 buying an additional 946,970 shares during the period. Institutional investors 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.