News articles about Chegg (NYSE:CHGG) have been trending somewhat positive this week, according to AlphaOne Sentiment. The research group, a subsidiary of Accern, ranks the sentiment of media coverage by analyzing more than twenty million news and blog sources. AlphaOne ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Chegg earned a daily sentiment score of 0.04 on AlphaOne’s scale. AlphaOne also assigned news stories about the technology company an impact score of 88 out of 100, indicating that recent media coverage is very likely to have an effect on the stock’s share price in the immediate future.
A number of research firms have weighed in on CHGG. Craig Hallum upgraded shares of Chegg from a “hold” rating to a “buy” rating in a research report on Tuesday, April 4th. Jefferies Group LLC upped their price target on shares of Chegg from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, May 2nd. BMO Capital Markets restated an “outperform” rating and set a $12.00 target price (up previously from $10.00) on shares of Chegg in a research report on Wednesday, May 3rd. Lake Street Capital restated a “buy” rating and set a $12.00 target price (up previously from $9.00) on shares of Chegg in a research report on Tuesday, May 2nd. Finally, ValuEngine lowered shares of Chegg from a “hold” rating to a “sell” rating and dropped their target price for the stock from $10.00 to $8.00 in a research report on Thursday, May 11th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $11.08.
Shares of Chegg (NYSE CHGG) traded down 1.58% during midday trading on Tuesday, hitting $11.81. 287,982 shares of the stock traded hands. Chegg has a 12-month low of $4.57 and a 12-month high of $13.00. The company’s 50 day moving average price is $11.86 and its 200-day moving average price is $8.88. The stock’s market cap is $1.12 billion.
Chegg (NYSE:CHGG) last issued its quarterly earnings results on Thursday, May 4th. The technology company reported $0.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.03. Chegg had a negative return on equity of 9.88% and a negative net margin of 13.18%. The firm had revenue of $62.60 million during the quarter, compared to the consensus estimate of $58.46 million. During the same period last year, the company earned ($0.03) earnings per share. The company’s revenue for the quarter was down 6.1% on a year-over-year basis. On average, equities research analysts expect that Chegg will post $0.22 EPS for the current year.
In other Chegg news, insider Andrew J. Brown sold 100,000 shares of the stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $12.50, for a total value of $1,250,000.00. Following the completion of the transaction, the insider now owns 678,760 shares in the company, valued at $8,484,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Nathan J. Schultz sold 15,276 shares of the stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $12.00, for a total value of $183,312.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 377,763 shares of company stock valued at $4,392,040. Corporate insiders own 20.40% of the company’s stock.
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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