BofA lowered the firm’s price target on Accolade to $7 from $14 and keeps a Buy rating on the shares. The firm is reducing the multiple to reflect a lower growth profile and peer group multiple compression. BofA notes Accolade’s Q1 results were generally in line with expectations, with revenue and EBITDA in-line with Street/BofA estimates when adjusting for a $6M PG revenue pull forward in the quarter. However, management is focusing on profitability and is moderating marketing spend.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ACCD:
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue