Canaccord analyst Richard Close lowered the firm’s price target on Accolade to $17 from $18 and keeps a Buy rating on the shares. The firm said the company’s results came in ahead of consensus estimates for revenue and adjusted-EBITDA. they noted there was some pull-forward performance guarantee revenue of about $2M that was expected in the second half of the year which dampened the beat somewhat, however revenue would have still been at the high-end of the quarterly range net of the pullforward and adjusted-EBITDA still would have been better than the high-end of the range.
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