Accolade’s (ACCD) Equal Weight Rating Reiterated at Stephens

Stephens reaffirmed their equal weight rating on shares of Accolade (NASDAQ:ACCD) in a research report sent to investors on Wednesday,Benzinga reports. They currently have a $7.03 price target on the stock.

Several other analysts also recently issued reports on ACCD. Stifel Nicolaus reiterated a “hold” rating and set a $7.03 price target (down previously from $8.00) on shares of Accolade in a research note on Thursday, January 9th. Needham & Company LLC restated a “hold” rating on shares of Accolade in a research note on Wednesday, January 8th. William Blair cut Accolade from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 8th. Truist Financial cut Accolade from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Finally, Canaccord Genuity Group reissued a “hold” rating on shares of Accolade in a report on Wednesday, January 8th. Twelve investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $7.46.

Accolade Price Performance

Shares of Accolade stock opened at $6.90 on Wednesday. The stock’s fifty day moving average is $5.31 and its 200-day moving average is $4.33. The firm has a market capitalization of $562.97 million, a PE ratio of -3.07 and a beta of 2.20. The company has a quick ratio of 2.63, a current ratio of 2.63 and a debt-to-equity ratio of 0.67. Accolade has a 12-month low of $3.08 and a 12-month high of $13.47.

Accolade (NASDAQ:ACCD) last posted its quarterly earnings results on Friday, January 10th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.01. Accolade had a negative return on equity of 20.74% and a negative net margin of 40.36%. Equities analysts anticipate that Accolade will post -1.2 earnings per share for the current year.

Insiders Place Their Bets

In other Accolade news, CEO Rajeev Singh sold 13,357 shares of Accolade stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $3.60, for a total value of $48,085.20. Following 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last ninety days, insiders have sold 41,127 shares of company stock worth $164,674. Corporate insiders own 8.20% of the company’s stock.

Institutional Trading of Accolade

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Fairman Group LLC grew its holdings in Accolade by 58.5% during the fourth quarter. Fairman Group LLC now owns 1,802,399 shares of the company’s stock worth $6,164,000 after purchasing an additional 665,112 shares during the period. Geode Capital Management LLC boosted its stake in shares of Accolade by 4.9% in the third quarter. Geode Capital Management LLC now owns 1,782,038 shares of the company’s stock valued at $6,862,000 after buying an additional 83,556 shares during the period. Whetstone Capital Advisors LLC boosted its stake in shares of Accolade by 58.9% in the fourth quarter. Whetstone Capital Advisors LLC now owns 1,585,643 shares of the company’s stock valued at $5,423,000 after buying an additional 587,754 shares during the period. Clearline Capital LP boosted its stake in shares of Accolade by 85.3% in the third quarter. Clearline Capital LP now owns 1,539,578 shares of the company’s stock valued at $5,927,000 after buying an additional 708,794 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Accolade by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,513,275 shares of the company’s stock valued at $5,175,000 after buying an additional 3,885 shares during the period. Institutional investors and hedge funds 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.