Shares of Chegg Inc (NYSE:CHGG) have been given an average recommendation of “Buy” by the fourteen analysts that are covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $18.22.
A number of equities analysts recently commented on CHGG shares. BMO Capital Markets reiterated a “buy” rating and set a $20.00 price objective on shares of Chegg in a research report on Wednesday, January 17th. Northland Securities restated a “buy” rating and issued a $20.00 target price on shares of Chegg in a research report on Tuesday, January 9th. Citigroup assumed coverage on Chegg in a research report on Monday, November 20th. They issued a “buy” rating and a $19.00 target price on the stock. BidaskClub upgraded Chegg from a “hold” rating to a “buy” rating in a research report on Tuesday, October 31st. Finally, First Analysis downgraded Chegg from an “overweight” rating to an “equal weight” rating and set a $18.00 target price on the stock. in a research report on Tuesday, October 31st.
In other news, CEO Daniel Rosensweig sold 200,000 shares of Chegg stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $18.00, for a total value of $3,600,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,007,689 shares of the company’s stock, valued at $36,138,402. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Esther Lem sold 10,000 shares of Chegg stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $17.50, for a total value of $175,000.00. Following the completion of the sale, the insider now directly owns 455,120 shares of the company’s stock, valued at $7,964,600. The disclosure for this sale can be found here. Insiders sold 869,323 shares of company stock worth $14,302,385 in the last 90 days. Company insiders own 20.40% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of CHGG. Schwab Charles Investment Management Inc. grew its stake in shares of Chegg by 10.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 253,137 shares of the technology company’s stock valued at $3,112,000 after buying an additional 23,678 shares in the last quarter. Alliancebernstein L.P. grew its stake in shares of Chegg by 13.5% in the second quarter. Alliancebernstein L.P. now owns 103,700 shares of the technology company’s stock valued at $1,274,000 after buying an additional 12,300 shares in the last quarter. Teachers Advisors LLC grew its stake in shares of Chegg by 12.5% in the second quarter. Teachers Advisors LLC now owns 151,183 shares of the technology company’s stock valued at $1,858,000 after buying an additional 16,757 shares in the last quarter. TIAA CREF Investment Management LLC grew its stake in shares of Chegg by 6.1% in the second quarter. TIAA CREF Investment Management LLC now owns 226,381 shares of the technology company’s stock valued at $2,782,000 after buying an additional 13,011 shares in the last quarter. Finally, Nationwide Fund Advisors grew its stake in shares of Chegg by 2.2% in the second quarter. Nationwide Fund Advisors now owns 47,047 shares of the technology company’s stock valued at $578,000 after buying an additional 1,005 shares in the last quarter.
Shares of Chegg (CHGG) traded up $0.40 during trading on Tuesday, reaching $19.57. The company had a trading volume of 1,810,000 shares, compared to its average volume of 1,150,000. Chegg has a 52-week low of $7.81 and a 52-week high of $19.96. The stock has a market capitalization of $2,120.00, a P/E ratio of -93.19, a price-to-earnings-growth ratio of 6.99 and a beta of 1.74.
Chegg (NYSE:CHGG) last announced its quarterly earnings data on Monday, February 12th. The technology company reported $0.15 EPS for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.02. Chegg had a negative return on equity of 2.64% and a negative net margin of 7.95%. The firm had revenue of $73.51 million for the quarter, compared to the consensus estimate of $70.61 million. During the same quarter last year, the business posted $0.10 earnings per share. The firm’s revenue was up 16.5% compared to the same quarter last year. research analysts forecast that Chegg will post 0.11 EPS for the current fiscal year.
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Chegg, Inc is a student-first connected learning platform. The Company helps students study for college admission exams, find the colleges, get grades and test scores while in school, and find internships that allow them to gain skills to help them enter the workforce after college. The Company matches domestic and international students with colleges, universities and other academic institutions (collectively referred to as colleges) in the United States.
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