Accolade (NASDAQ:ACCD) Trading 2.9% Higher

Accolade, Inc. (NASDAQ:ACCD) rose 2.9% on Wednesday . The stock traded as high as $8.67 and last traded at $8.64. Approximately 259,204 shares traded hands during trading, a decline of 64% from the average daily volume of 712,323 shares. The stock had previously closed at $8.40.

Analyst Ratings Changes

A number of research analysts recently issued reports on ACCD shares. Needham & Company LLC restated a “buy” rating and set a $17.00 price target on shares of Accolade in a research note on Friday, January 19th. William Blair restated an “outperform” rating on shares of Accolade in a research note on Tuesday, January 9th. SVB Leerink started coverage on Accolade in a research note on Monday, February 26th. They set an “outperform” rating and a $16.00 price target on the stock. Raymond James raised their price target on Accolade from $12.00 to $16.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 9th. Finally, Piper Sandler raised their price target on Accolade from $12.00 to $15.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 9th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Accolade has an average rating of “Moderate Buy” and an average price target of $15.67.

Accolade Trading Down 0.4 %

The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.48. The stock has a 50 day moving average of $10.15 and a two-hundred day moving average of $9.92.

Institutional Trading of Accolade

A number of institutional investors have recently modified their holdings of ACCD. MetLife Investment Management LLC boosted its stake in shares of Accolade by 58.5% in the first quarter. MetLife Investment Management LLC now owns 28,794 shares of the company’s stock valued at $506,000 after buying an additional 10,627 shares in the last quarter. Panagora Asset Management Inc. purchased a new stake in shares of Accolade in the first quarter valued at approximately $942,000. Rhumbline Advisers raised its holdings in Accolade by 6.7% during the first quarter. Rhumbline Advisers now owns 52,869 shares of the company’s stock worth $928,000 after purchasing an additional 3,312 shares during the last quarter. BlackRock Inc. raised its holdings in Accolade by 6.9% during the first quarter. BlackRock Inc. now owns 3,730,360 shares of the company’s stock worth $65,503,000 after purchasing an additional 241,048 shares during the last quarter. Finally, Bridgewater Associates LP raised its holdings in Accolade by 31.5% during the first quarter. Bridgewater Associates LP now owns 79,586 shares of the company’s stock worth $1,398,000 after purchasing an additional 19,074 shares during the last quarter. 84.99% of the stock is currently owned by hedge funds and other institutional investors.

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.