Accolade price target lowered to $5.75 from $7 at BofA

BofA lowered the firm’s price target on Accolade to $5.75 from $7 and keeps a Buy rating on the shares. Q2 results “largely reiterated ongoing themes in the business,” like improving profitability as revenue growth moderates, says the analyst, who is decreasing FY25 revenue and adjusted EBITDA estimates following the report. Revenue estimates come down to reflect lower growth in PlushCare and across the wider model, which flow through to lower EBITDA, the analyst explained.