Accolade (NASDAQ:ACCD) Given Hold Rating at Needham & Company LLC

Accolade (NASDAQ:ACCD)‘s stock had its “hold” rating reiterated by Needham & Company LLC in a report released on Wednesday,Benzinga reports.

A number of other research analysts have also recently weighed in on ACCD. Barclays lowered their price objective 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. Leerink Partners reaffirmed a “market perform” rating on shares of Accolade in a report on Wednesday. Truist Financial dropped their price target 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. Wells Fargo & Company decreased 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. Finally, Stephens dropped their target price on shares of Accolade from $10.00 to $8.00 and set an “overweight” rating for the company in a report on Wednesday, October 9th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Accolade has a consensus rating of “Moderate Buy” and a consensus target price of $8.96.

Accolade Stock Performance

NASDAQ ACCD traded up $3.51 during trading hours on Wednesday, hitting $6.86. 24,720,332 shares of the company’s stock traded hands, compared to its average volume of 5,725,401. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 0.49. Accolade has a 52 week low of $3.08 and a 52 week high of $15.36. The firm has a market capitalization of $552.48 million, a P/E ratio of -6.66 and a beta of 2.08. The business’s fifty day moving average price is $3.52 and its two-hundred day moving average price is $3.79.

Accolade (NASDAQ:ACCD) last announced its earnings results on Tuesday, October 8th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.14. The company 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%. Accolade’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period last year, the firm earned ($0.43) EPS. Equities research analysts predict that Accolade will post -0.92 EPS for the current year.

Insider Buying and Selling at Accolade

In other Accolade news, CEO Rajeev Singh sold 13,357 shares of Accolade 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 completion of the transaction, the chief executive officer now directly owns 814,316 shares of the company’s stock, valued at $2,931,537.60. This trade represents a 1.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders sold 42,006 shares of company stock worth $149,228 in the last quarter. 8.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Accolade by 22.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,373 shares of the company’s stock worth $73,000 after acquiring an additional 3,789 shares during the last quarter. Rhumbline Advisers increased its position in shares of Accolade by 22.5% during the 2nd quarter. Rhumbline Advisers now owns 124,351 shares of the company’s stock valued at $445,000 after purchasing an additional 22,857 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in Accolade during the 2nd quarter valued at $1,229,000. Blair William & Co. IL lifted its position in Accolade by 73.1% in the second quarter. Blair William & Co. IL now owns 79,834 shares of the company’s stock worth $286,000 after buying an additional 33,725 shares during the last quarter. Finally, XTX Topco Ltd boosted its stake in Accolade by 64.4% during the second quarter. XTX Topco Ltd now owns 49,454 shares of the company’s stock worth $177,000 after buying an additional 19,369 shares during the period. 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.