SVB Leerink maintained its Accolade [ACCD] rating to the equivalent of Market Perform but changed the price target to $53.0 from $53, in a research note dated 2021-01-08. That figure represents around a 12.96% premium from where the company’s shares closed on Thursday. Some new analysts also started their coverage, with Canaccord Genuity’s analysts assigning the shares to “a Buy” rating in a research note to investors issued in early December. Meanwhile, DA Davidson had launched its coverage on ACCD with “Buy”, in a research note produced for clients September 22, 2020. In addition, SVB Leerink launched coverage on July 27, 2020. The research firm rated ACCD “an Outperform”.
ACCD Price Performance
On Wall Street, Accolade Inc. [NASDAQ:ACCD] finished Thursday’s session up 6.52% at $46.92. The stock went up to $47.50 at the same session while its lowest single day price was $44.60. In the last five days, it saw a rise of about 2.13%, Accolade Inc. shares gained by almost 7.86% since the beginning of the year. However, the share price has dropped to as low as -28.09% below its one year high.
ACCD Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 45.18 level, and in case of violation of this particular level, it will cause more drop to 43.44 level. On the upper level, 49.24 is still the key resistance. The stock may increase to the subsequent resistance at 48.08. The Relative Strength Index (RSI) pinned on the 14-day chart is 48.33, implying a neutral technical stance while the MACD stands at -3.48, meaning price will decrease in the next trading period. Percent R indicator moved to 58.03%, implying low price movement. Stochastic %K at 27.64% suggest selling 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 (short ratio) moved to while the shorted shares account for just 8.85% of the overall float for the stock.
Accolade Inc.’s Biggest Shareholders: Who Owns Accolade Inc. [ACCD]?
Filings by Gilder, Gagnon, Howe & Co. LLC showed that the firm now holds a total of 1,311,157 shares or roughly 2.38% of the outstanding ACCD shares. The Brown Advisory LLC’s holdings currently number 660,247 shares at $30978789.24. According to the firm’s last 13F report, T. Rowe Price Associates, Inc. shares in the company at filing stood at 650,902 shares, roughly $33,788,323.
ACCD Earnings Forecast For The Current Quarter
Accolade Inc. [ACCD] is expected to report earnings results for the quarter ending on Feb 2021. Consensus estimates give the company expected revenues of $51.83M and an earnings per share of -$0.13 for Feb 2021. Looking further ahead, the company is expected to report revenue of $43.72M at an EPS of -$0.24 for May 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.
ACCD Earnings Estimates For The Current Year
For the financial year, Accolade Inc. [NASDAQ:ACCD] is expected to bring in revenue of $160.11M. The returns are nearly $27.6 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. Estimates put next year’s earnings growth at 60.20%, and at an annual 28.80% over the next 5-year period. As for sales, forecasts are for an increase of 20.80% in the current fiscal year and a further 24.60% over the following year.