Chegg’s (CHGG) Buy Rating Reiterated at Barrington Research

Barrington Research reaffirmed their buy rating on shares of Chegg (NYSE:CHGG) in a research note published on Tuesday, TipRanks reports. The firm currently has a $50.00 price objective on the technology company’s stock. Barrington Research also issued estimates for Chegg’s Q1 2020 earnings at $0.03 EPS, Q2 2020 earnings at $0.16 EPS, Q3 2020 earnings at $0.00 EPS, Q4 2020 earnings at $0.31 EPS and FY2020 earnings at $0.50 EPS.

CHGG has been the subject of several other reports. Needham & Company LLC upped their price target on shares of Chegg from $50.00 to $53.00 and gave the company a buy rating in a research report on Tuesday. Citigroup upped their price target on shares of Chegg from to and gave the company a buy rating in a research report on Tuesday, January 21st. Northland Securities began coverage on shares of Chegg in a research report on Wednesday, December 4th. They issued a buy rating and a $44.00 price target for the company. BMO Capital Markets upped their price target on shares of Chegg from $37.00 to $43.00 and gave the company an outperform rating in a research report on Friday, January 10th. Finally, ValuEngine upgraded shares of Chegg from a sell rating to a hold rating in a research report on Friday, January 10th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Chegg presently has a consensus rating of Buy and a consensus price target of $47.25.

CHGG stock opened at $40.08 on Tuesday. The company has a 50 day simple moving average of $41.08 and a 200 day simple moving average of $37.57. The stock has a market cap of $4.85 billion, a price-to-earnings ratio of -400.76, a P/E/G ratio of 3.93 and a beta of 0.98. Chegg has a 1 year low of $28.29 and a 1 year high of $48.22. The company has a debt-to-equity ratio of 1.89, a current ratio of 9.50 and a quick ratio of 9.50.

Chegg (NYSE:CHGG) last released its quarterly earnings data on Monday, February 10th. The technology company reported $0.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.06. Chegg had a negative net margin of 2.34% and a positive return on equity of 11.53%. The business had revenue of $125.50 million during the quarter, compared to analysts’ expectations of $123.05 million. During the same period in the prior year, the company earned $0.25 EPS. The firm’s quarterly revenue was up 31.1% compared to the same quarter last year. On average, equities research analysts anticipate that Chegg will post 0.38 EPS for the current fiscal year.

In other news, CEO Daniel Rosensweig sold 150,000 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $36.60, for a total value of $5,490,000.00. Following the sale, the chief executive officer now directly owns 2,322,754 shares of the company’s stock, valued at approximately $85,012,796.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Michael A. Osier sold 24,000 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $44.24, for a total transaction of $1,061,760.00. Following the completion of the sale, the insider now directly owns 416,741 shares in the company, valued at $18,436,621.84. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 806,197 shares of company stock worth $31,730,908. Insiders own 5.80% of the company’s stock.

Several large investors have recently bought and sold shares of CHGG. Baillie Gifford & Co. boosted its stake in shares of Chegg by 20.4% in the 4th quarter. Baillie Gifford & Co. now owns 14,494,521 shares of the technology company’s stock valued at $549,487,000 after purchasing an additional 2,460,087 shares during the last quarter. Eagle Asset Management Inc. bought a new stake in shares of Chegg in the 3rd quarter valued at $44,603,000. Carillon Tower Advisers Inc. bought a new stake in shares of Chegg in the 3rd quarter valued at $31,088,000. FMR LLC boosted its stake in Chegg by 18,377.4% during the first quarter. FMR LLC now owns 599,961 shares of the technology company’s stock worth $22,871,000 after acquiring an additional 596,714 shares in the last quarter. Finally, Voya Investment Management LLC boosted its stake in Chegg by 277.3% during the third quarter. Voya Investment Management LLC now owns 771,545 shares of the technology company’s stock worth $23,107,000 after acquiring an additional 567,035 shares in the last quarter.

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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Analyst Recommendations for Chegg (NYSE:CHGG)

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