Shares of Chegg Inc (NYSE:CHGG) have been given a consensus recommendation of “Buy” by the eleven brokerages that are presently covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $38.50.
A number of equities analysts have recently issued reports on the company. Zacks Investment Research downgraded Chegg from a “buy” rating to a “hold” rating in a research note on Tuesday, April 16th. Lake Street Capital reissued a “hold” rating and set a $34.00 target price (up from $33.00) on shares of Chegg in a research note on Tuesday, April 30th. Craig Hallum reissued a “buy” rating and set a $50.00 target price (up from $45.00) on shares of Chegg in a research note on Tuesday, April 30th. Barrington Research reissued a “buy” rating on shares of Chegg in a research note on Wednesday, April 17th. Finally, Berenberg Bank started coverage on Chegg in a report on Wednesday, March 6th. They issued a “buy” rating and a $48.00 price target on the stock.
Shares of CHGG stock traded up $0.23 during trading hours on Friday, reaching $37.45. 1,569,400 shares of the company’s stock were exchanged, compared to its average volume of 1,983,074. The company has a market cap of $4.32 billion, a price-to-earnings ratio of 416.11, a price-to-earnings-growth ratio of 7.48 and a beta of 1.22. Chegg has a 1 year low of $22.67 and a 1 year high of $41.69. The company has a current ratio of 13.96, a quick ratio of 13.96 and a debt-to-equity ratio of 1.84.
Chegg (NYSE:CHGG) last issued its earnings results on Monday, April 29th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.09). The business had revenue of $97.40 million for the quarter, compared to analysts’ expectations of $94.69 million. Chegg had a positive return on equity of 4.73% and a negative net margin of 4.86%. The business’s quarterly revenue was up 26.6% on a year-over-year basis. During the same period last year, the company posted $0.10 earnings per share. On average, equities analysts forecast that Chegg will post 0.16 earnings per share for the current fiscal year.
In related news, Director Renee Varni Budig sold 45,000 shares of the company’s stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $39.47, for a total value of $1,776,150.00. Following the sale, the director now owns 58,194 shares in the company, valued at approximately $2,296,917.18. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Daniel Rosensweig sold 165,000 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $37.69, for a total value of $6,218,850.00. Following the completion of the sale, the chief executive officer now owns 2,322,754 shares in the company, valued at approximately $87,544,598.26. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,020,761 shares of company stock worth $39,297,204. Insiders own 5.80% of the company’s stock.
A number of large investors have recently made changes to their positions in CHGG. Parallel Advisors LLC grew its holdings in Chegg by 22.8% during the 4th quarter. Parallel Advisors LLC now owns 1,558 shares of the technology company’s stock valued at $44,000 after buying an additional 289 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. grew its holdings in Chegg by 274.2% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,205 shares of the technology company’s stock valued at $46,000 after buying an additional 883 shares during the last quarter. PRW Wealth Management LLC acquired a new stake in Chegg during the 4th quarter valued at $56,000. Stephens Inc. AR grew its holdings in Chegg by 1,027.2% during the 1st quarter. Stephens Inc. AR now owns 1,781 shares of the technology company’s stock valued at $68,000 after buying an additional 1,623 shares during the last quarter. Finally, Icon Wealth Partners LLC acquired a new stake in Chegg during the 1st quarter valued at $71,000.
Chegg Company Profile
Chegg, Inc operates direct-to-student learning platform that supports students on their journey from high school to college and into their career with tools designed to help them pass their test, pass their class, and save money on required materials. The company offers Chegg Services, which include digital products and services; and required materials that comprise its print textbooks and eTextbooks.
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