Why Healthcare Technology Company Accolade Shares Are Surging Today
Portfolio Pulse from Lekha Gupta
Accolade Inc (NASDAQ:ACCD) shares surged after reporting Q3 FY24 results with a 9% revenue increase to $99.4 million, surpassing estimates. Adjusted gross profit rose 10% Y/Y, and adjusted EBITDA loss narrowed significantly. The EPS loss was also less than expected. The company raised its FY24 revenue guidance and expects continued growth into FY25. Wedbush analyst Ryan Daniels reaffirmed an Outperform rating, citing strong sales momentum and visibility into FY25.
January 09, 2024 | 2:51 pm
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Accolade Inc's Q3 FY24 results exceeded expectations with higher revenue and reduced losses, leading to a raised FY24 guidance and positive analyst outlook. Shares jumped 15.5%.
Accolade's positive earnings report and raised guidance, coupled with an analyst's reaffirmation of an Outperform rating, are strong indicators of investor confidence and potential for continued share price growth in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100