Shares of Chegg Inc (NYSE:CHGG) have received an average recommendation of “Buy” from the twelve analysts that are presently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $44.18.
A number of equities research analysts have weighed in on CHGG shares. Needham & Company LLC reiterated a “buy” rating and set a $50.00 target price (up from $44.00) on shares of Chegg in a research note on Tuesday, July 30th. Lake Street Capital restated a “hold” rating and issued a $34.00 price objective (up from $33.00) on shares of Chegg in a research note on Tuesday, April 30th. Craig Hallum upped their price objective on Chegg from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Barrington Research upped their price objective on Chegg from $45.00 to $50.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 30th. Finally, Morgan Stanley upped their price objective on Chegg from $37.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 30th.
In related news, CMO Esther Lem sold 50,000 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $36.33, for a total value of $1,816,500.00. Following the completion of the transaction, the chief marketing officer now owns 308,325 shares of the company’s stock, valued at approximately $11,201,447.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Daniel Rosensweig sold 165,000 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $36.58, for a total transaction of $6,035,700.00. Following the completion of the transaction, the chief executive officer now directly owns 2,237,161 shares of the company’s stock, valued at approximately $81,835,349.38. The disclosure for this sale can be found here. Insiders sold a total of 1,145,114 shares of company stock valued at $47,474,750 in the last ninety days. 5.80% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in CHGG. Stephens Inc. AR boosted its holdings in shares of 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 purchasing an additional 1,623 shares during the last quarter. Icon Wealth Partners LLC bought a new position in shares of Chegg during the 1st quarter valued at about $71,000. NEXT Financial Group Inc boosted its holdings in shares of Chegg by 1,834.0% during the 2nd quarter. NEXT Financial Group Inc now owns 1,934 shares of the technology company’s stock valued at $75,000 after purchasing an additional 1,834 shares during the last quarter. Quantamental Technologies LLC bought a new position in shares of Chegg during the 1st quarter valued at about $81,000. Finally, Institutional & Family Asset Management LLC boosted its holdings in shares of Chegg by 870.9% during the 1st quarter. Institutional & Family Asset Management LLC now owns 2,670 shares of the technology company’s stock valued at $102,000 after purchasing an additional 2,395 shares during the last quarter.
CHGG traded up $0.92 during mid-day trading on Friday, reaching $40.46. 1,392,200 shares of the company traded hands, compared to its average volume of 1,693,547. The stock has a market capitalization of $4.73 billion, a P/E ratio of 449.56, a P/E/G ratio of 5.33 and a beta of 0.99. The company has a quick ratio of 13.22, a current ratio of 13.22 and a debt-to-equity ratio of 1.90. The company’s fifty day moving average price is $42.73 and its 200-day moving average price is $39.16. Chegg has a 52-week low of $22.67 and a 52-week high of $48.22.
Chegg (NYSE:CHGG) last announced its earnings results on Monday, July 29th. The technology company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.06. The business had revenue of $93.90 million during the quarter, compared to analyst estimates of $92.44 million. Chegg had a negative net margin of 4.07% and a positive return on equity of 7.12%. The company’s quarterly revenue was up 26.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.12 EPS. As a group, sell-side analysts forecast that Chegg will post 0.25 earnings per share for the current fiscal year.
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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