Accolade Inc. (NASDAQ:ACCD) marked $9.66 per share on Monday, up from a previous closing price of $9.17. While Accolade Inc. has overperformed by 5.34%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, ACCD fell by -48.45%, with highs and lows ranging from $22.92 to $4.61, whereas the simple moving average jumped by 0.88% in the last 200 days.
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On September 08, 2022, Piper Sandler started tracking Accolade Inc. (NASDAQ: ACCD) recommending Overweight. A report published by Truist on September 07, 2022, Initiated its previous ‘Buy’ rating for ACCD. DA Davidson also rated ACCD shares as ‘Buy’, setting a target price of $16 on the company’s shares in an initiating report dated August 12, 2022. SVB Leerink April 29, 2022d its ‘Outperform’ rating to ‘Mkt Perform’ for ACCD, as published in its report on April 29, 2022. Morgan Stanley’s report from April 29, 2022 suggests a price prediction of $9 for ACCD shares, giving the stock a ‘Equal-Weight’ rating. Credit Suisse also rated the stock as ‘Neutral’.
Analysis of Accolade Inc. (ACCD)
Further, the quarter-over-quarter increase in sales is 8.90%, showing a positive trend in the upcoming months.
In order to gain a clear picture of Accolade Inc.’s future performance, a variety of well-rounded analysis and research techniques can be applied, with equity being the most critical. The goal here is to ensure that your current return on equity of -77.90% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 3.10, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
An average volume of 673.36K can be a very valuable indicator of volatility for ACCD stock. On a monthly basis, the volatility of the stock is set at 8.64%, whereas on a weekly basis, it is put at 7.15%, with a gain of 3.65% over the past seven days. Furthermore, long-term investors anticipate a median target price of $12.73, showing growth from the present price of $9.66, which can serve as yet another indication of whether ACCD is worth investing in or should be passed over.
How Do You Analyze Accolade Inc. Shares?
In addition to the fundamentals, you should also consider how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.90%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 82.70% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in ACCD shares?
The recent increase in stakes in ACCD appears to be a result of several institutional investors and hedge funds increasing their positions. Brown Advisory LLC’s position in ACCD has decreased by -1.38% in the first quarter. The company now owns 5,942,189 shares of the stock, with a value of $46.29 million, following the sale of -83,439 additional shares during the last quarter. ARK Investment Management LLC made another decreased to its shares in ACCD during the first quarter, downing its stake by -5.31%. During the last quarter, the company picked up -331,910 additional shares for a total stake of worth $46.1 million, bringing number of shares owned by the company to 5,918,365.
During the first quarter, The Vanguard Group, Inc. added a 340,502 position in ACCD. BlackRock Fund Advisors purchased an additional 0.22 million shares in the last quarter, increasing its holdings by 5.36%, now holding 4.23 million shares worth $32.94 million. At the end of the first quarter, Bellevue Asset Management AG decreased its ACCD holdings by -1.73% and now holds 3.57 million ACCD shares valued at $27.82 million with the lessened 63016.0 shares during the period. ACCD shares are owned by institutional investors to the tune of 82.70% at present.