Chegg Inc. (NYSE:CHGG) has been given an average recommendation of “Buy” by the ten research firms that are currently covering the company. Three analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $8.86.
Several research analysts have recently weighed in on CHGG shares. Barrington Research upped their price objective on Chegg from $10.00 to $11.00 and gave the stock an “outperform” rating in a research report on Thursday, September 29th. Jefferies Group reaffirmed a “buy” rating and set a $12.00 price objective on shares of Chegg in a research report on Monday, July 11th. Piper Jaffray Cos. upped their price objective on Chegg from $6.00 to $7.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 2nd. BMO Capital Markets reaffirmed an “outperform” rating and set a $7.00 price objective (up from $6.00) on shares of Chegg in a research report on Wednesday, August 3rd. Finally, TheStreet raised Chegg from a “sell” rating to a “hold” rating in a research report on Tuesday, August 2nd.
Chegg (NYSE:CHGG) opened at 6.89 on Monday. Chegg has a 52 week low of $3.15 and a 52 week high of $8.03. The company’s market cap is $627.18 million. The company’s 50-day moving average price is $7.03 and its 200 day moving average price is $5.58.
Chegg (NYSE:CHGG) last posted its earnings results on Monday, August 1st. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. Chegg had a negative return on equity of 15.55% and a negative net margin of 16.81%. The firm earned $53 million during the quarter, compared to analysts’ expectations of $67.10 million. During the same period in the previous year, the firm earned $0.01 earnings per share. The company’s revenue was down 20.9% on a year-over-year basis. On average, analysts anticipate that Chegg will post $0.10 EPS for the current year.
In related news, insider Charles Geiger sold 25,000 shares of the company’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $6.75, for a total transaction of $168,750.00. Following the sale, the insider now owns 296,666 shares in the company, valued at $2,002,495.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 18.00% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in CHGG. JPMorgan Chase & Co. raised its stake in Chegg by 6,044.2% in the second quarter. JPMorgan Chase & Co. now owns 61,442 shares of the company’s stock valued at $307,000 after buying an additional 60,442 shares in the last quarter. P.A.W. Capital Corp acquired a new stake in Chegg during the second quarter valued at about $2,250,000. Swiss National Bank raised its stake in Chegg by 28.3% in the second quarter. Swiss National Bank now owns 94,300 shares of the company’s stock valued at $472,000 after buying an additional 20,800 shares in the last quarter. California State Teachers Retirement System raised its stake in Chegg by 4.4% in the second quarter. California State Teachers Retirement System now owns 168,822 shares of the company’s stock valued at $844,000 after buying an additional 7,101 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Chegg by 1.2% in the second quarter. Bank of New York Mellon Corp now owns 263,511 shares of the company’s stock valued at $1,318,000 after buying an additional 3,144 shares in the last quarter. Hedge funds and other institutional investors own 67.20% of the company’s stock.
Chegg Company Profile
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. It 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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