Raymond James Reiterates Market Perform Rating for Accolade (NASDAQ:ACCD)

Raymond James reissued their market perform rating on shares of Accolade (NASDAQ:ACCD) in a research report report published on Thursday,Benzinga reports.

Other research analysts have also recently issued reports about the company. Canaccord Genuity Group reissued a “hold” rating on shares of Accolade in a research note on Wednesday. Wells Fargo & Company cut their target price on shares of Accolade from $7.00 to $6.00 and set an “equal weight” rating on the stock in a research note on Friday, October 11th. Leerink Partners reiterated a “market perform” rating on shares of Accolade in a research note on Wednesday. Needham & Company LLC reiterated a “hold” rating on shares of Accolade in a report on Wednesday. Finally, Stephens reduced their price objective on shares of Accolade from $10.00 to $8.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $7.55.

Accolade Trading Up 104.8 %

NASDAQ ACCD opened at $6.86 on Thursday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.72 and a current ratio of 2.72. The firm has a market cap of $552.48 million, a price-to-earnings ratio of -6.66 and a beta of 2.08. The firm has a 50 day simple moving average of $3.66 and a 200-day simple moving average of $3.83. Accolade has a one year low of $3.08 and a one year high of $15.36.

Accolade (NASDAQ:ACCD) last posted its quarterly earnings results on Tuesday, October 8th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate 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 quarter in the previous year, the firm posted ($0.43) earnings per share. Equities research analysts anticipate that Accolade will post -0.92 EPS for the current fiscal year.

Insider Activity at Accolade

In other news, CEO Rajeev Singh sold 13,357 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $3.60, for a total value of $48,085.20. Following the completion of the sale, the chief executive officer now directly owns 814,316 shares of the company’s stock, valued at approximately $2,931,537.60. The trade was a 1.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 40,881 shares of company stock valued at $144,987 over the last ninety days. Insiders own 8.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ACCD. Barclays PLC boosted its holdings in shares of Accolade by 164.4% in the third quarter. Barclays PLC now owns 139,901 shares of the company’s stock valued at $539,000 after acquiring an additional 86,981 shares during the period. Geode Capital Management LLC raised its position in Accolade by 4.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,782,038 shares of the company’s stock valued at $6,862,000 after purchasing an additional 83,556 shares during the last quarter. Wolverine Trading LLC acquired a new stake in Accolade during the 3rd quarter worth $51,000. Stifel Financial Corp grew its position in Accolade by 20.8% during the 3rd quarter. Stifel Financial Corp now owns 332,126 shares of the company’s stock worth $1,279,000 after purchasing an additional 57,239 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in Accolade in the third quarter valued at $2,378,000. 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.