Accolade (NASDAQ:ACCD) Lowered to “Hold” Rating by William Blair

William Blair downgraded shares of Accolade (NASDAQ:ACCD) from a strong-buy rating to a hold rating in a report published on Wednesday,Zacks.com reports.

A number of other brokerages also recently issued reports on ACCD. Needham & Company LLC reissued a “hold” rating on shares of Accolade in a research report on Wednesday. Raymond James restated a “market perform” rating on shares of Accolade in a research note on Thursday. Morgan Stanley reduced their price target on Accolade from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. Truist Financial lowered their price objective on Accolade from $9.00 to $7.50 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Finally, Wells Fargo & Company reduced their target price on shares of Accolade from $7.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Friday, October 11th. Ten analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $7.55.

Accolade Price Performance

ACCD stock opened at $6.86 on Wednesday. The stock has a market capitalization of $552.48 million, a price-to-earnings ratio of -6.66 and a beta of 2.08. The firm’s 50-day moving average price is $3.66 and its two-hundred day moving average price is $3.83. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 0.49. Accolade has a 12-month low of $3.08 and a 12-month high of $15.36.

Accolade (NASDAQ:ACCD) last announced its quarterly earnings results on Tuesday, October 8th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $106.40 million for the quarter, compared to the consensus estimate of $104.87 million. During the same quarter in the previous year, the business earned ($0.43) EPS. Accolade’s revenue was up 9.8% compared to the same quarter last year. As a group, equities analysts predict that Accolade will post -0.92 earnings per share for the current year.

Insider Buying and Selling

In related 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 completion of the sale, the chief executive officer now directly owns 814,316 shares in the company, valued at approximately $2,931,537.60. This trade represents a 1.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 40,881 shares of company stock worth $144,987 in the last three months. Insiders own 8.20% of the company’s stock.

Institutional Trading of Accolade

Institutional investors have recently made changes to their positions in the stock. Millennium Management LLC lifted its position in Accolade by 244.7% during the second quarter. Millennium Management LLC now owns 2,623,201 shares of the company’s stock valued at $9,391,000 after purchasing an additional 1,862,178 shares during the period. Whetstone Capital Advisors LLC bought a new position in shares of Accolade during the 3rd quarter valued at $3,842,000. Clearline Capital LP purchased a new position in shares of Accolade in the 2nd quarter worth $2,974,000. Point72 Asset Management L.P. bought a new stake in shares of Accolade in the third quarter worth $2,378,000. Finally, Johnson Financial Group LLC purchased a new stake in Accolade during the third quarter valued at $1,642,000. Hedge funds and other 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 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.