Accolade Stock Inches Higher After Baird Upgrade

The company announced its upcoming earnings report is set for October

Deputy Editor
Sep 17, 2021 at 10:45 AM
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Accolade Inc (NASDAQ:ACCD) is up 0.7% at $45.31 this morning, after Baird upgraded the healthcare technology name to "outperform" from "neutral." The analyst noted recent conversations with the firm's management, which have bolstered the brokerage's confidence in the company, adding that it has a track record of strong execution.

ACCD also announced yesterday it will release its fiscal second quarter of 2022 financial results after the close on Thursday, Oct. 7. Looking back at its last four earnings reports, the security has a mixed history of next-day returns, coming in higher after half of these sessions. Regardless of direction, the stock has averaged a next-day return of 5.8% over the last year. 

Circling back to analyst sentiment, the brokerage bunch has been incredibly optimistic. Heading into today, all eight analysts in coverage called ACCD a "buy" or better. Plus, the 12-month consensus price target of $61.90 is a 36.7% premium to current levels. 

The stock looks ready to bounce after its late August rally was rejected by the 80-day moving average. The 20-day moving average still looms as potential resistance, though ACCD is up 39.5% year-over-year. 


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