Accolade price target lowered to $13 from $17 at Needham

Needham analyst Ryan MacDonald lowered the firm’s price target on Accolade to $13 from $17 and keeps a Buy rating on the shares. The company’s Q4 revenue and adjusted EBITDA beats were offset by a below-consensus FY25 revenue guide that included a wider potential range of outcomes for the year, the analyst tells investors in a research note. Core end-market demand was also strong, but while the firm is positive on the greater long-term opportunity to cross-sell usage-based revenue streams, this greater mix of usage revs creates a wider range of outcomes in the near-term, Needham added.