Accolade price target lowered to $14 from $16 at DA Davidson

DA Davidson analyst Robert Simmons lowered the firm’s price target on Accolade to $14 from $16 but keeps a Buy rating on the shares after its better than expected Q3 results. The company also secured a healthy mix of bookings across customers and solutions, the analyst tells investors in a research note, noting that with the announcement of the T5 contract, Accolade’s opportunity in the government sector is strengthened as a key driver of future growth. Accolade looks to be set up well to rebound from the Comcast loss and its long-term picture is intact, Simmons adds.