Chegg Upgraded to “Buy” by Bank of America (CHGG)
Chegg (NASDAQ:CHGG) was upgraded by equities research analysts at Bank of America from a “neutral” rating to a “buy” rating in a research note issued to investors on Tuesday, TheFlyOnTheWall.com reports. The firm currently has a $8.00 target price on the stock. Bank of America’s price target would indicate a potential upside of 48.15% from the stock’s previous close. The analysts noted that the move was a valuation call.
Shares of Chegg (NASDAQ:CHGG) traded up 2.86% on Tuesday, hitting $5.40. The stock had a trading volume of 751,658 shares. Chegg has a 52 week low of $4.98 and a 52 week high of $11.25. The stock has a 50-day moving average of $6.36 and a 200-day moving average of $7.26. The company’s market cap is $442.5 million.
Chegg (NASDAQ:CHGG) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.40 earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.35) by $0.75. The company had revenue of $77.10 million for the quarter, compared to the consensus estimate of $68.28 million. Chegg’s revenue was up 12.9% compared to the same quarter last year. On average, analysts predict that Chegg will post $-0.30 earnings per share for the current fiscal year.
Chegg, Inc (NASDAQ:CHGG) is the student-first connected learning platform, empowering students to take control of their education to save time, save money and get smarter.
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