In Wednesday’s session, Accolade Inc. (NASDAQ:ACCD) marked $13.47 per share, down from $13.78 in the previous session. While Accolade Inc. has underperformed by -2.25%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, ACCD fell by -28.73%, with highs and lows ranging from $18.95 to $4.61, whereas the simple moving average jumped by 28.63% in the last 200 days.
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On March 23, 2023, Guggenheim Upgraded Accolade Inc. (NASDAQ: ACCD) to Buy. A report published by Jefferies on February 09, 2023, Downgraded its rating to ‘Hold’ for ACCD. Raymond James also rated ACCD shares as ‘Outperform’, setting a target price of $15 on the company’s shares in an initiating report dated February 02, 2023. Piper Sandler Initiated an Overweight rating on September 08, 2022, and assigned a price target of $12. Truist initiated its ‘Buy’ rating for ACCD, as published in its report on September 07, 2022. DA Davidson’s report from August 12, 2022 suggests a price prediction of $16 for ACCD shares, giving the stock a ‘Buy’ rating. Wells Fargo also rated the stock as ‘Equal Weight’.
Analysis of Accolade Inc. (ACCD)
Further, the quarter-over-quarter increase in sales is 8.90%, showing a positive trend in the upcoming months.
Accolade Inc.’s future performance can be determined with the help of several well-rounded types of analysis and research techniques, with equity being one of the most influential. 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.
The average volume for any stock is also a very valuable indicator of volatility, and ACCD has an average volume of 696.27K. On a monthly basis, the volatility of the stock is set at 6.23%, whereas on a weekly basis, it is put at 4.76%, with a gain of 0.75% over the past seven days. Furthermore, long-term investors anticipate a median target price of $14.17, showing growth from the present price of $13.47, 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 analyzing the fundamentals, it is also important to look at how many company employees own stock. 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. ARK Investment Management LLC’s position in ACCD has decreased by -7.76% in the first quarter. The company now owns 5,458,916 shares of the stock, with a value of $60.65 million, following the sale of -459,449 additional shares during the last quarter. Brown Advisory LLC made another decreased to its shares in ACCD during the first quarter, downing its stake by -15.15%. During the last quarter, the company picked up -900,038 additional shares for a total stake of worth $56.02 million, bringing number of shares owned by the company to 5,042,151.
During the first quarter, The Vanguard Group, Inc. added a 495,707 position in ACCD. BlackRock Fund Advisors purchased an additional 0.47 million shares in the last quarter, increasing its holdings by 11.83%, now holding 4.49 million shares worth $49.87 million. At the end of the first quarter, Bellevue Asset Management AG increased its ACCD holdings by 2.95% and now holds 3.68 million ACCD shares valued at $40.85 million with the added 0.11 million shares during the period. ACCD shares are owned by institutional investors to the tune of 82.70% at present.
