Needham & Company LLC Lowers Accolade (NASDAQ:ACCD) Price Target to $33.00

Accolade (NASDAQ:ACCD) had its price target cut by Needham & Company LLC from $56.00 to $33.00 in a research note published on Tuesday, The Fly reports. They currently have a buy rating on the stock.

Several other research firms have also recently commented on ACCD. Zacks Investment Research cut Accolade from a hold rating to a sell rating in a research report on Thursday, January 6th. Morgan Stanley reduced their target price on Accolade from $56.00 to $31.00 and set an overweight rating for the company in a research report on Friday, December 17th. Piper Sandler reduced their target price on Accolade from $60.00 to $45.00 and set an overweight rating for the company in a research report on Friday, October 8th. Credit Suisse Group reduced their target price on Accolade from $63.00 to $62.00 and set an outperform rating for the company in a research report on Friday, October 8th. Finally, 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. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Accolade has a consensus rating of Buy and a consensus price target of $43.73.

NASDAQ:ACCD opened at $20.21 on Tuesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.67 and a current ratio of 2.21. Accolade has a 52-week low of $18.72 and a 52-week high of $59.93. 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’s fifty day moving average is $27.31 and its 200 day moving average is $39.09.

Accolade (NASDAQ:ACCD) last posted its earnings results on Monday, January 10th. The company reported $0.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.68) by $0.99. Accolade had a negative return on equity of 20.66% and a negative net margin of 33.86%. The business had revenue of $83.45 million during the quarter, compared to analysts’ expectations of $75.89 million. During the same period in the previous year, the business earned ($0.32) earnings per share. The firm’s revenue was up 117.1% on a year-over-year basis. Equities analysts predict that Accolade will post -2.66 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD boosted its holdings in Accolade by 66.4% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,397,223 shares of the company’s stock valued at $75,883,000 after acquiring an additional 557,549 shares during the period. Rhumbline Advisers boosted its holdings in Accolade by 38.2% during the 2nd quarter. Rhumbline Advisers now owns 48,177 shares of the company’s stock valued at $2,616,000 after acquiring an additional 13,306 shares during the period. Deutsche Bank AG boosted its holdings in Accolade by 418.8% during the 2nd quarter. Deutsche Bank AG now owns 462,908 shares of the company’s stock valued at $25,141,000 after acquiring an additional 373,676 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Accolade during the 2nd quarter valued at about $2,607,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Accolade by 32.2% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 184,755 shares of the company’s stock valued at $10,035,000 after acquiring an additional 45,038 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.

Recommended Story: How to interpret Moving Average Convergence Divergence (MACD)

The Fly logo

Analyst Recommendations for Accolade (NASDAQ:ACCD)

Receive News & Ratings for Accolade Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Accolade and related companies with MarketBeat.com's FREE daily email newsletter.