Accolade (NASDAQ:ACCD) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Accolade (NASDAQ:ACCD) released its earnings results on Friday. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.01, Zacks reports. Accolade had a negative net margin of 18.16% and a negative return on equity of 18.43%.

Accolade Price Performance

Accolade stock opened at $6.83 on Friday. Accolade has a 52-week low of $3.08 and a 52-week high of $15.21. The firm has a market capitalization of $550.07 million, a price-to-earnings ratio of -6.63 and a beta of 2.08. The company has a fifty day simple moving average of $3.73 and a 200-day simple moving average of $3.84. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 0.49.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Morgan Stanley reduced their price target on shares of Accolade from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. Wells Fargo & Company cut their price objective on shares of Accolade from $7.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Friday, October 11th. Barclays lowered their target price on shares of Accolade from $5.50 to $5.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 9th. Truist Financial decreased their price objective on shares of Accolade from $9.00 to $7.50 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Finally, Raymond James restated a “market perform” rating on shares of Accolade in a research note on Thursday. Ten research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $7.55.

Insider Activity

In other Accolade news, CEO Rajeev Singh sold 13,357 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $3.60, for a total value of $48,085.20. Following the transaction, the chief executive officer now owns 814,316 shares of the company’s stock, valued at $2,931,537.60. This represents a 1.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last quarter, insiders have sold 40,881 shares of company stock valued at $144,987. 8.20% of the stock is currently owned by insiders.

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.