Raymond James analyst John Ransom initiated coverage of Accolade with an Outperform rating and $15 price target. Accolade shares have retreated roughly 80% off its all-time highs, following the collapse in "digital health" and some company-specific issues, but Raymond James thinks the valuation, strong Q3 results, balance sheet, and easy-to-grasp path to profitability offer an attractive set-up, the analyst tells investors in a research note. While the company’s most direct competitors are formidable, the firm thinks that the ~20% estimated growth in the market, 20% market penetration, and the still-large opportunity imply that the biggest competition in the short-term remains the status quo.
Published first on TheFly
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