Accolade (NASDAQ:ACCD) Given New $30.00 Price Target at Morgan Stanley

Accolade (NASDAQ:ACCD) had its price target cut by Morgan Stanley from $31.00 to $30.00 in a report issued on Tuesday, PriceTargets.com reports. They currently have an overweight rating on the stock.

Several other analysts have also weighed in on the company. SVB Leerink cut their price objective on Accolade from $58.00 to $52.00 and set an outperform rating for the company in a report on Friday, October 8th. Needham & Company LLC cut their target price on Accolade from $56.00 to $33.00 and set a buy rating on the stock in a research report on Tuesday. Zacks Investment Research lowered Accolade from a hold rating to a sell rating in a research report on Thursday, January 6th. cut their target price on Accolade from $62.00 to $52.00 and set a buy rating on the stock in a research report on Friday, October 8th. Finally, Berenberg Bank reissued a buy rating and set a $61.00 price target on shares of Accolade in a research report on Friday, October 8th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Accolade presently has a consensus rating of Buy and an average target price of $43.73.

Shares of Accolade stock opened at $20.21 on Tuesday. The company has a quick ratio of 1.67, a current ratio of 2.21 and a debt-to-equity ratio of 0.36. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of -11.68 and a beta of 1.82. The business has a fifty day simple moving average of $27.31 and a 200-day simple moving average of $39.09. Accolade has a fifty-two week low of $18.72 and a fifty-two week high of $59.93.

Accolade (NASDAQ:ACCD) last announced its quarterly earnings data on Monday, January 10th. The company reported $0.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.68) by $0.99. The business had revenue of $83.45 million during the quarter, compared to analyst estimates of $75.89 million. Accolade had a negative return on equity of 20.66% and a negative net margin of 33.86%. The company’s revenue was up 117.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.32) earnings per share. Analysts anticipate that Accolade will post -2.66 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Accolade by 5.6% during the 2nd quarter. Vanguard Group Inc. now owns 3,916,842 shares of the company’s stock worth $212,723,000 after acquiring an additional 208,085 shares in the last quarter. BlackRock Inc. boosted its stake in Accolade by 22.1% during the 3rd quarter. BlackRock Inc. now owns 3,290,748 shares of the company’s stock valued at $138,770,000 after purchasing an additional 595,012 shares during the period. Wellington Management Group LLP boosted its stake in Accolade by 20.9% during the 3rd quarter. Wellington Management Group LLP now owns 1,936,936 shares of the company’s stock valued at $81,680,000 after purchasing an additional 334,840 shares during the period. Janus Henderson Group PLC boosted its stake in Accolade by 9.6% during the 3rd quarter. Janus Henderson Group PLC now owns 1,867,008 shares of the company’s stock valued at $78,734,000 after purchasing an additional 163,416 shares during the period. Finally, Bellevue Group AG boosted its stake in Accolade by 7.9% during the 3rd quarter. Bellevue Group AG now owns 1,860,203 shares of the company’s stock valued at $78,445,000 after purchasing an additional 135,504 shares during the period. Institutional investors own 72.11% of the company’s stock.

About Accolade

Accolade, Inc develops and provides 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 technology and multimodal support from a team of health assistants and clinicians, including nurses, physician medical directors, and behavioral health specialists.

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Analyst Recommendations for Accolade (NASDAQ:ACCD)

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