Accolade Inc. [NASDAQ:ACCD] will report earnings after markets close on Thursday, January 7th.
ACCD Earnings Forecast For The Current Quarter
Accolade Inc. [ACCD] is expected to report earnings results for the quarter ending on Nov 2020. Consensus estimates give the company expected revenues of $36.19M and an earnings per share of -$0.35 for Nov 2020. Looking further ahead, the company is expected to report revenue of $51.6M at an EPS of -$0.13 for Feb 2021. The estimates represent 24.60% and 60.20% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
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ACCD Earnings Estimates For The Current Year
For the financial year, Accolade Inc. [NASDAQ:ACCD] is expected to bring in revenue of $159.78M. The returns are nearly $27.27 million higher than the company’s actual revenue recorded in the fiscal year 2020. In terms of EPS for the 2021, estimate put it at -1.86. As for sales, forecasts are for an increase of 20.60% in the current fiscal year and a further 24.60% over the following year.
ACCD Price Performance
On Wall Street, Accolade Inc. [NASDAQ:ACCD] finished Tuesday’s session up 2.63% at $42.54. The stock went up to $42.81 at the same session while its lowest single day price was $39.65. In the last five days, it saw a fall of about -10.14%, Accolade Inc. shares dropped by almost -2.21% since the beginning of the year. However, the share price has dropped to as low as -34.80% below its one year high.
ACCD Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 40.52 level, and in case of violation of this particular level, it will cause more drop to 38.51 level. On the upper level, 44.83 is still the key resistance. The stock may increase to the subsequent resistance at 43.68. The Relative Strength Index (RSI) pinned on the 14-day chart is 39.59, implying a neutral technical stance while the MACD stands at -6.18, meaning price will decrease in the next trading period. Percent R indicator moved to 84.47%, implying bearish price movement. Stochastic %K at 8.23% suggest buying the stock.
What is the short interest in Accolade Inc.?
Short interest in the Accolade Inc. stock has plunged, decreasing by -0.13 million shares to total 3.05 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 2.92 million, data from Yahoo Finance shows. The increase of 4.26% suggests the stock saw some increased bearish sentiment. The stock’s days to cover moved to short ratio while the shorted shares account for just 8.85% of the overall float for the stock.
What are analyst thoughts on Accolade Inc.?
Looking forward to the Accolade Inc. share price prediction, we can see that analysts, surveyed by FactSet, offer the mean price target for Accolade Inc. stock at $49.50 within the next 12 months, which represents almost 14.06 per cent growth from its previous closing price of $42.54. The highest analysts’ target for Accolade Inc. stock projections is $59.00 and the lowest one is $42.00. Still, 11 analysts sharing their consensus rating for ACCD stock in 2021 agree that it is a Buy.