Accolade Inc. [ACCD] stock Resumed by Piper Sandler analyst, price target now $12

Accolade Inc. [NASDAQ: ACCD] price surged by 0.32 percent to reach at $0.03. The company report on January 9, 2023 that Accolade Announces Results for Fiscal Third Quarter 2023.


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Fiscal third quarter 2023 revenue of $90.9 million, a 9% increase compared to fiscal third quarter 2022 revenue of $83.5 million .

A sum of 710021 shares traded at recent session while its average daily volume was at 666.22K shares. Accolade Inc. shares reached a high of $9.43 and dropped to a low of $9.07 until finishing in the latest session at $9.32.

The one-year ACCD stock forecast points to a potential upside of 26.79. The average equity rating for ACCD stock is currently 2.20, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Accolade Inc. [ACCD]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ACCD shares is $12.73 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ACCD stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Piper Sandler have made an estimate for Accolade Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on September 08, 2022. While these analysts kept the previous recommendation, Truist raised their target price to Buy. The new note on the price target was released on September 07, 2022, representing the official price target for Accolade Inc. stock. Previously, the target price had yet another raise to $16, while DA Davidson analysts kept a Buy rating on ACCD stock.

The Average True Range (ATR) for Accolade Inc. is set at 0.73, with the Price to Sales ratio for ACCD stock in the period of the last 12 months amounting to 1.89. The Price to Book ratio for the last quarter was 1.30.

ACCD Stock Performance Analysis:

Accolade Inc. [ACCD] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 25.44. With this latest performance, ACCD shares gained by 2.08% in over the last four-week period, additionally plugging by 0.98% over the last 6 months – not to mention a drop of -56.10% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ACCD stock in for the last two-week period is set at 58.39, with the RSI for the last a single of trading hit 63.41, and the three-weeks RSI is set at 54.76 for Accolade Inc. [ACCD]. The present Moving Average for the last 50 days of trading for this stock 8.56, while it was recorded at 8.98 for the last single week of trading, and 9.76 for the last 200 days.

Insight into Accolade Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Accolade Inc. [ACCD] shares currently have an operating margin of -50.94 and a Gross Margin at +31.74. Accolade Inc.’s Net Margin is presently recorded at -39.71.

Return on Equity for this stock declined to -19.75, with Return on Assets sitting at -13.98.

Accolade Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.30 and a Current Ratio set at 3.30.

ACCD Stock EPS

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ACCD. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Accolade Inc. go to -0.90%.

Accolade Inc. [ACCD] Insider Position Details

There are presently around $516 million, or 82.70% of ACCD stock, in the hands of institutional investors. The top three institutional holders of ACCD stocks are: JPMORGAN CHASE & CO with ownership of 5,949,012, which is approximately -1.223% of the company’s market cap and around 0.90% of the total institutional ownership; BROWN ADVISORY INC, holding 5,942,189 shares of the stock with an approximate value of $55.38 million in ACCD stocks shares; and ARK INVESTMENT MANAGEMENT LLC, currently with $55.16 million in ACCD stock with ownership of nearly -5.31% of the company’s market capitalization.

Positions in Accolade Inc. stocks held by institutional investors increased at the end of January and at the time of the January reporting period, where 78 institutional holders increased their position in Accolade Inc. [NASDAQ:ACCD] by around 4,674,430 shares. Additionally, 68 investors decreased positions by around 3,576,481 shares, while 26 investors held positions by with 47,159,117 shares. The mentioned changes placed institutional holdings at 55,410,028 shares, according to the latest SEC report filing. ACCD stock had 18 new institutional investments in for a total of 1,525,514 shares, while 23 institutional investors sold positions of 752,876 shares during the same period.

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