Truist lowered the firm’s price target on Accolade to $9 from $14 and keeps a Buy rating on the shares after its results. The quarter beat Q1 estimates but this was primarily due to a pull-forward of performance guarantee revenue expected later in the year, while the management lowered its FY25 revenue outlook and reiterated its EBITDA outlook, the analyst tells investors in a research note. The company also lowered its long-term revenue growth forecast from an implied 20% to about 15%, the firm added.
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