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

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

ACCD has been the topic of a number of other reports. Needham & Company LLC reissued a buy rating and issued a $17.00 price objective on shares of Accolade in a research report on Friday, January 19th. Leerink Partnrs reissued an outperform rating on shares of Accolade in a research report on Monday, February 26th. Wells Fargo & Company increased their price objective on shares of Accolade from $10.00 to $12.00 and gave the company an equal weight rating in a research report on Tuesday, January 9th. SVB Leerink initiated coverage on shares of Accolade in a research report on Monday, February 26th. They issued an outperform rating and a $16.00 price objective on the stock. Finally, Raymond James increased their price objective on shares of Accolade from $12.00 to $16.00 and gave the company an outperform rating in a research report on Tuesday, January 9th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $14.80.

Accolade Price Performance

Shares of ACCD opened at $7.89 on Friday. Accolade has a fifty-two week low of $6.33 and a fifty-two week high of $17.00. The firm’s 50 day moving average price is $9.66 and its 200 day moving average price is $9.91. The company has a market cap of $610.75 million, a P/E ratio of -4.78 and a beta of 2.08. 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 (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 net margin of 31.59% and a negative return on equity of 27.27%. 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 prior year, the firm earned ($0.42) EPS. The firm’s revenue for the quarter was up 26.1% on a year-over-year basis. On average, research analysts forecast that Accolade will post -1.33 earnings per share for the current fiscal year.

Institutional Trading of Accolade

A number of large investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC acquired a new stake in Accolade during the 1st quarter worth $87,000. Los Angeles Capital Management LLC boosted its stake in Accolade by 233.8% during the 1st quarter. Los Angeles Capital Management LLC now owns 56,149 shares of the company’s stock worth $588,000 after purchasing an additional 39,330 shares during the period. Fairman Group LLC acquired a new stake in Accolade during the 4th quarter worth $14,139,000. PNC Financial Services Group Inc. boosted its stake in Accolade by 52,492.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 33,659 shares of the company’s stock worth $404,000 after purchasing an additional 33,595 shares during the period. Finally, Ieq Capital LLC acquired a new stake in Accolade during the 4th quarter worth $13,387,000. Institutional investors and hedge funds 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 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.