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Accolade (ACCD) Stock Jumps 7.2%: Will It Continue to Soar?

Accolade (ACCD) shares rallied 7.2% in the last trading session to close at $8.24. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 25% gain over the past four weeks.

The uptick can be attributed to the company's strength across its pipeline business and enhanced healthcare services.

This company is expected to post quarterly loss of $0.73 per share in its upcoming report, which represents a year-over-year change of -87.2%. Revenues are expected to be $82.4 million, up 38.4% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For Accolade, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ACCD going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Accolade is a member of the Zacks Technology Services industry. One other stock in the same industry, Vasta Platform Limited (VSTA), finished the last trading session 3.9% higher at $5.30. VSTA has returned 27.5% over the past month.

For Vasta Platform Limited, the consensus EPS estimate for the upcoming report has changed -100% over the past month to -$0.14. This represents a change of -133.3% from what the company reported a year ago. Vasta Platform Limited currently has a Zacks Rank of #4 (Sell).

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