Accolade (NASDAQ:ACCD) Receives Hold Rating from Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Accolade (NASDAQ:ACCD) in a research note issued to investors on Wednesday morning,Benzinga reports.

ACCD has been the topic of a number of other research reports. Canaccord Genuity Group dropped their price objective on Accolade from $13.00 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Leerink Partners reaffirmed a “market perform” rating on shares of Accolade in a research report on Wednesday. Truist Financial decreased their target price on shares of Accolade from $9.00 to $7.50 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Barclays cut their price target on shares of Accolade from $5.50 to $5.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 9th. Finally, Stephens reduced their price target on Accolade from $10.00 to $8.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 9th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Accolade presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.96.

Accolade Price Performance

Shares of ACCD opened at $6.86 on Wednesday. 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 company has a 50 day moving average price of $3.59 and a 200-day moving average price of $3.81. Accolade has a fifty-two week low of $3.08 and a fifty-two week high of $15.36. The stock has a market capitalization of $552.48 million, a PE ratio of -6.66 and a beta of 2.08.

Accolade (NASDAQ:ACCD) last announced its earnings results on Tuesday, October 8th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.14. The business had revenue of $106.40 million for 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 business’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter last year, the firm earned ($0.43) EPS. Equities analysts predict that Accolade will post -0.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Accolade

In other news, CEO Rajeev Singh sold 13,357 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $3.60, for a total value of $48,085.20. Following the sale, the chief executive officer now owns 814,316 shares in the company, valued at $2,931,537.60. This represents a 1.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders have sold 42,006 shares of company stock worth $149,228. 8.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Accolade

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Centiva Capital LP lifted its holdings in shares of Accolade by 5.8% in the 3rd quarter. Centiva Capital LP now owns 59,660 shares of the company’s stock valued at $230,000 after buying an additional 3,264 shares during the period. The Manufacturers Life Insurance Company raised its position in Accolade by 13.3% during the second quarter. The Manufacturers Life Insurance Company now owns 29,160 shares of the company’s stock valued at $104,000 after acquiring an additional 3,416 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Accolade by 22.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,373 shares of the company’s stock worth $73,000 after purchasing an additional 3,789 shares in the last quarter. Mission Creek Capital Partners Inc. purchased a new stake in Accolade in the 3rd quarter worth approximately $38,000. Finally, Inspire Investing LLC grew its stake in shares of Accolade by 11.1% during the 3rd quarter. Inspire Investing LLC now owns 106,679 shares of the company’s stock worth $411,000 after purchasing an additional 10,658 shares during the period. 84.99% of the stock is owned by institutional investors and hedge funds.

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.