Accolade (NASDAQ:ACCD) Cut to “Hold” at William Blair

William Blair downgraded shares of Accolade (NASDAQ:ACCD) from a strong-buy rating to a hold rating in a research report report published on Wednesday,Zacks.com reports.

Several other equities research analysts have also issued reports on the stock. Wells Fargo & Company reduced their target price on shares of Accolade from $7.00 to $6.00 and set an “equal weight” rating for the company in a report on Friday, October 11th. Leerink Partnrs cut shares of Accolade from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Canaccord Genuity Group restated a “hold” rating on shares of Accolade in a research note on Wednesday. Stifel Nicolaus reaffirmed a “hold” rating and issued a $7.03 target price (down previously from $8.00) on shares of Accolade in a report on Thursday. Finally, Truist Financial decreased their price target on Accolade from $9.00 to $7.50 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Ten research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Accolade currently has a consensus rating of “Hold” and a consensus target price of $7.55.

Accolade Trading Up 104.8 %

Shares of ACCD stock opened at $6.86 on Wednesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.72 and a quick ratio of 2.72. The company has a market cap of $552.48 million, a price-to-earnings ratio of -6.66 and a beta of 2.08. Accolade has a 1 year low of $3.08 and a 1 year high of $15.36. The firm has a fifty day moving average price of $3.66 and a 200-day moving average price of $3.83.

Accolade (NASDAQ:ACCD) last released its quarterly 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. Accolade had a negative return on equity of 18.43% and a negative net margin of 18.16%. The business had revenue of $106.40 million during the quarter, compared to analyst estimates of $104.87 million. During the same quarter in the previous year, the company posted ($0.43) earnings per share. Accolade’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, equities analysts predict that Accolade will post -0.92 earnings per share for the current year.

Insider Activity

In other news, CEO Rajeev Singh sold 13,357 shares of the business’s 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 transaction, the chief executive officer now 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 SEC, which can be accessed through the SEC website. In the last three months, insiders have sold 40,881 shares of company stock worth $144,987. 8.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Barclays PLC lifted its holdings in shares of Accolade by 164.4% in the 3rd quarter. Barclays PLC now owns 139,901 shares of the company’s stock worth $539,000 after acquiring an additional 86,981 shares during the last quarter. 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 worth $6,862,000 after purchasing an additional 83,556 shares during the period. Wolverine Trading LLC bought a new stake in Accolade in the third quarter worth about $51,000. Stifel Financial Corp boosted its position in shares of Accolade by 20.8% during the third quarter. Stifel Financial Corp now owns 332,126 shares of the company’s stock valued at $1,279,000 after buying an additional 57,239 shares during the period. Finally, Point72 Asset Management L.P. bought a new position in shares of Accolade during the third quarter valued at approximately $2,378,000. 84.99% of the stock is owned by hedge funds and other institutional investors.

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.