BofA lowered the firm’s price target on Accolade to $16 from $19 and keeps a Buy rating on the shares. Following the company’s fiscal Q2 beat, the firm is “slightly lowering” its FY24 revenue forecast and reducing its adjusted EBITDA estimate. However, the firm remains “confident in the company’s path” to adjusted EBITDA breakeven in FY25, the analyst added.
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