Accolade (NASDAQ:ACCD) Price Target Lowered to $10.00 at Wells Fargo & Company

Accolade (NASDAQ:ACCD) had its price objective decreased by Wells Fargo & Company from $12.00 to $10.00 in a report issued on Tuesday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Several other research firms have also recently weighed in on ACCD. Canaccord Genuity Group lowered their target price on Accolade from $18.00 to $16.00 and set a buy rating on the stock in a research note on Friday, April 26th. Leerink Partnrs reiterated an outperform rating on shares of Accolade in a report on Monday, February 26th. Raymond James lifted their price target on Accolade from $12.00 to $16.00 and gave the company an outperform rating in a report on Tuesday, January 9th. Morgan Stanley reduced their target price on Accolade from $13.00 to $12.00 and set an equal weight rating for the company in a report on Friday, April 26th. Finally, Truist Financial cut their price target on Accolade from $16.00 to $14.00 and set a buy rating for the company in a report on Friday, April 26th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $14.57.

Accolade Stock Down 1.4 %

ACCD stock opened at $7.26 on Tuesday. The company has a market capitalization of $568.89 million, a P/E ratio of -5.46 and a beta of 2.15. The firm has a 50 day simple moving average of $9.35 and a 200-day simple moving average of $9.91. The company has a current ratio of 2.64, a quick ratio of 2.35 and a debt-to-equity ratio of 0.47. Accolade has a twelve month low of $6.33 and a twelve month high of $15.36.

Accolade (NASDAQ:ACCD) last issued its quarterly earnings data on Thursday, April 25th. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. Accolade had a negative net margin of 24.09% and a negative return on equity of 22.53%. The business had revenue of $124.80 million for the quarter, compared to analysts’ expectations of $123.91 million. During the same period in the previous year, the business earned ($0.42) earnings per share. The company’s revenue was up 26.1% on a year-over-year basis. On average, equities research analysts predict that Accolade will post -1.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Accolade

Hedge funds have recently bought and sold shares of the company. Mckinley Capital Management LLC acquired a new position in shares of Accolade during the first quarter valued at about $1,155,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Accolade in the first quarter valued at approximately $87,000. Principal Financial Group Inc. bought a new stake in shares of Accolade in the first quarter valued at approximately $259,000. Los Angeles Capital Management LLC raised its position in shares of Accolade by 233.8% in the first quarter. Los Angeles Capital Management LLC now owns 56,149 shares of the company’s stock valued at $588,000 after purchasing an additional 39,330 shares during the period. Finally, Fairman Group LLC bought a new stake in shares of Accolade in the fourth quarter valued at approximately $14,139,000. 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 technology and multimodal support from a team of health assistants and clinicians, including registered nurses, physician medical directors, pharmacists, behavioral health specialists, women's health specialists, case management specialists, expert medical opinion providers, and virtual primary care physicians.