Accolade Inc. Up 22.48% To $9.48 After Earnings Beat

Accolade Inc. (ACCD) said after close Monday that it lost $0.56 per share in quarter three 2023.

On the revenue line, the company reported $90.9 million, beating estimates by $3.4 million.

In the same quarter a year ago, the company lost $0.52 per share on revenue of $83.5 million.

The stock is up 22.48% to $9.48 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

Wall Street Analysts had an average rating of Buy on the stock prior to the report.

Trading in the five days leading up to the report earned Accolade Inc. a Bullish Sentiment Rank from InvestorsObserver.

Accolade Inc. has performed poorly during the past few months, garnering a low Long-Term Technical Rank by InvestorsObserver of 22, putting Accolade Inc. in the bottom 25% of stocks. The firm set a 52-week low on April 29, 2022 at $4.61 and set a 52-week high on January 11, 2022 at $24.96.

Accolade Inc offers technology-enabled solutions that help people better understand, navigate, and utilize the healthcare system and their workplace benefits. It generates revenue by providing personalized health guidance solutions to members.