Colin McHugh, Chief Accounting Officer at Accolade, Inc. (NASDAQ:ACCD), reported selling 2,388 shares of the company's common stock on December 3, 2024, at an average price of $3.595 per share. This transaction, valued at approximately $8,584, was conducted to cover tax withholding obligations related to the vesting of restricted stock units (RSUs). The sale occurred as Accolade's stock, currently trading at $3.47, shows significant volatility according to InvestingPro data, with shares down over 45% in the past six months.
Additionally, McHugh acquired a total of 7,916 shares of common stock on December 2, 2024, through the conversion of RSUs. These acquisitions were made at no cost, as each RSU converted into one share of common stock. Following these transactions, McHugh holds 61,056 shares directly in the $281 million market cap company. InvestingPro analysis suggests Accolade is currently undervalued, with several additional insights available in the comprehensive Pro Research Report covering this and 1,400+ other US stocks.
In other recent news, Accolade Inc (NASDAQ:ACCD). has been the subject of several analyst revisions following its strong Q2 2025 performance, which saw revenues surpassing expectations at $106.4 million. Wells Fargo (NYSE:WFC) adjusted their price target for Accolade downwards to $6.00 due to concerns over delayed deal closures, yet maintained an Equal Weight rating, indicating a balanced risk and reward profile. Stephens, on the other hand, reduced the price target to $8.00 but retained an Overweight rating, reflecting a 12% revenue growth projection for fiscal years 2025 and 2026.
Canaccord Genuity also lowered its price target on Accolade shares to $7.00, while maintaining a Buy rating, expressing confidence in the company's ability to meet performance guarantees and secure new business. Truist Securities and BofA Securities followed suit, adjusting their price targets to $7.50 and $5.75 respectively, both maintaining a Buy rating. These adjustments reflect recent developments in Accolade's financial performance and strategic direction.
Despite the revised price targets, Accolade's management remains optimistic about a strong pipeline with diversification across employers, health plans, and government segments. The company has also confirmed its fiscal year 2025 revenue guidance between $460 million to $475 million and projected a positive adjusted EBITDA of $15 million to $20 million. However, slower revenue growth is anticipated in fiscal year 2026 due to staggered launches.
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