Accolade’s (ACCD) “Market Perform” Rating Reaffirmed at Leerink Partners

Leerink Partners reiterated their market perform rating on shares of Accolade (NASDAQ:ACCD) in a research note issued to investors on Wednesday,Benzinga reports.

Other research analysts have also recently issued reports about the stock. Needham & Company LLC reiterated a “buy” rating and set a $8.00 price target on shares of Accolade in a research report on Monday, October 7th. Stephens reduced their price objective on Accolade from $10.00 to $8.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. Wells Fargo & Company lowered their target price on Accolade from $7.00 to $6.00 and set an “equal weight” rating for the company in a research note on Friday, October 11th. Barclays reduced their price target on Accolade from $5.50 to $5.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 9th. Finally, Truist Financial lowered their price objective on Accolade from $9.00 to $7.50 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.96.

Accolade Stock Performance

Accolade stock opened at $6.86 on Wednesday. Accolade has a fifty-two week low of $3.08 and a fifty-two week high of $15.36. The firm’s fifty day moving average price is $3.59 and its 200-day moving average price is $3.81. The stock has a market cap of $552.48 million, a P/E 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 posted its quarterly earnings data on Tuesday, October 8th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.14. The firm had revenue of $106.40 million during the quarter, compared to analysts’ expectations of $104.87 million. Accolade had a negative return on equity of 18.43% and a negative net margin of 18.16%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.43) EPS. On average, equities research analysts expect that Accolade will post -0.92 earnings per share for the current fiscal year.

Insider Activity at Accolade

In related news, CEO Rajeev Singh sold 13,357 shares of Accolade stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $3.60, for a total transaction of $48,085.20. Following the sale, the chief executive officer now directly owns 814,316 shares in the company, valued at $2,931,537.60. The trade was a 1.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold 42,006 shares of company stock worth $149,228 over the last 90 days. 8.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Accolade

Several institutional investors and hedge funds have recently added to or reduced their stakes in ACCD. Mission Creek Capital Partners Inc. bought a new position in shares of Accolade in the 3rd quarter worth about $38,000. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in Accolade in the third quarter worth about $46,000. Wolverine Trading LLC bought a new position in shares of Accolade during the third quarter valued at approximately $51,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Accolade by 22.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,373 shares of the company’s stock valued at $73,000 after purchasing an additional 3,789 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of Accolade by 1,144.1% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 20,913 shares of the company’s stock valued at $81,000 after purchasing an additional 19,232 shares during the last quarter. Hedge funds and other 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 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.