Accolade price target lowered to $6 from $7 at Wells Fargo

Wells Fargo lowered the firm’s price target on Accolade to $6 from $7 and keeps an Equal Weight rating on the shares. Accolate is making progress on margins and the reiterated FY25 guidance seems achievable, but upside is likely limited due to top-line progression uncertainty driven by a mix shift to Usage fees, deal timing, and pressures on CAC, the analyst tells investors in a research note.