Accolade (NASDAQ:ACCD) PT Lowered to $10.00 at Wells Fargo & Company

Accolade (NASDAQ:ACCD) had its price objective lowered by investment analysts at Wells Fargo & Company from $12.00 to $10.00 in a report released on Tuesday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 23.46% from the company’s previous close.

ACCD has been the topic of several other reports. Morgan Stanley cut their price objective on shares of Accolade from $13.00 to $12.00 and set an “equal weight” rating on the stock in a report on Friday. Needham & Company LLC decreased their price objective on Accolade from $17.00 to $13.00 and set a “buy” rating for the company in a research note on Friday. Leerink Partnrs reissued an “outperform” rating on shares of Accolade in a research note on Monday, February 26th. Canaccord Genuity Group decreased their price objective on shares of Accolade from $18.00 to $16.00 and set a “buy” rating for the company in a report on Friday. Finally, SVB Leerink initiated coverage on shares of Accolade in a report on Monday, February 26th. They issued an “outperform” rating and a $16.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $14.67.

Accolade Trading Down 1.1 %

NASDAQ:ACCD traded down $0.09 during trading hours on Tuesday, hitting $8.10. 168,341 shares of the stock were exchanged, compared to its average volume of 727,505. The company has a market capitalization of $627.02 million, a P/E ratio of -6.09 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. The company’s 50 day moving average is $9.58 and its two-hundred day moving average is $9.94. Accolade has a twelve month low of $6.33 and a twelve month high of $15.36.

Accolade (NASDAQ:ACCD) last issued its quarterly earnings results 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 business had revenue of $124.80 million for the quarter, compared to analyst estimates of $123.91 million. Accolade had a negative return on equity of 22.57% and a negative net margin of 24.09%. The firm’s revenue for the quarter was up 26.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.42) earnings per share. On average, sell-side analysts anticipate that Accolade will post -1.2 earnings per share for the current fiscal year.

Institutional Trading of Accolade

A number of institutional investors have recently modified their holdings of the company. Fairman Group LLC bought a new position in shares of Accolade during the fourth quarter worth about $14,139,000. Ieq Capital LLC bought a new position in shares of Accolade during the 4th quarter worth approximately $13,387,000. Sumitomo Mitsui Trust Holdings Inc. raised 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 purchasing an additional 946,970 shares during the last quarter. ARK Investment Management LLC lifted its position 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 worth $81,731,000 after purchasing an additional 762,685 shares in the last quarter. Finally, JFG Wealth Management LLC bought a new stake in shares of Accolade in the fourth quarter worth $5,657,000. 84.99% of the stock is currently owned by institutional investors.

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.