Accolade (NASDAQ:ACCD) Receives “Hold” Rating from Stifel Nicolaus

Stifel Nicolaus restated their hold rating on shares of Accolade (NASDAQ:ACCD) in a research report sent to investors on Thursday,Benzinga reports. Stifel Nicolaus currently has a $7.03 target price on the stock, down from their previous target price of $8.00.

ACCD has been the subject of several other reports. Leerink Partners reaffirmed a “market perform” rating on shares of Accolade in a research note on Wednesday. Truist Financial reduced their price objective 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. Needham & Company LLC reissued a “hold” rating on shares of Accolade in a research note on Wednesday. Morgan Stanley decreased 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. Finally, Stephens reduced their target price on Accolade from $10.00 to $8.00 and set an “overweight” rating for the company in a report on Wednesday, October 9th. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $7.55.

Accolade Price Performance

NASDAQ:ACCD opened at $6.86 on Thursday. The firm’s fifty day moving average is $3.66 and its two-hundred day moving average is $3.83. The firm 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 one year low of $3.08 and a one year high of $15.36. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.72 and a current ratio of 2.72.

Accolade (NASDAQ:ACCD) last posted its 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. Accolade had a negative return on equity of 18.43% and a negative net margin of 18.16%. The firm had revenue of $106.40 million for the quarter, compared to analyst estimates of $104.87 million. During the same period last year, the company earned ($0.43) earnings per share. Accolade’s revenue for the quarter was up 9.8% compared to the same quarter last year. Research analysts expect that Accolade will post -0.92 EPS for the current year.

Insider Transactions at Accolade

In other Accolade news, CEO Rajeev Singh sold 13,357 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 814,316 shares of the company’s stock, valued at $2,931,537.60. This trade 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. Insiders have sold a total of 40,881 shares of company stock worth $144,987 in the last quarter. Company insiders own 8.20% of the company’s stock.

Institutional Trading of Accolade

Several institutional investors have recently added to or reduced their stakes in the stock. Whetstone Capital Advisors LLC acquired a new stake in Accolade during the 3rd quarter worth approximately $3,842,000. Clearline Capital LP purchased a new stake in shares of Accolade in the 2nd quarter valued at approximately $2,974,000. Cubist Systematic Strategies LLC raised its holdings in shares of Accolade by 273.4% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 260,040 shares of the company’s stock valued at $931,000 after purchasing an additional 190,396 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Accolade during the 2nd quarter worth $1,229,000. Finally, Johnson Financial Group LLC acquired a new position in shares of Accolade during the third quarter worth $1,642,000. Institutional investors and hedge funds own 84.99% of the company’s stock.

About Accolade

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.