Chegg Inc (CHGG) Given Average Recommendation of “Buy” by Brokerages

Chegg Inc (NYSE:CHGG) has been assigned a consensus recommendation of “Buy” from the fourteen research firms that are currently covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $17.44.

A number of research firms have recently weighed in on CHGG. Zacks Investment Research lowered Chegg from a “buy” rating to a “hold” rating in a research note on Monday, September 25th. BidaskClub raised Chegg from a “hold” rating to a “buy” rating in a research note on Tuesday, October 31st. First Analysis lowered Chegg from an “overweight” rating to an “equal weight” rating and set a $18.00 target price for the company. in a research note on Tuesday, October 31st. Barrington Research reissued an “outperform” rating and issued a $19.00 target price (up previously from $17.00) on shares of Chegg in a research note on Tuesday, October 31st. Finally, Northland Securities reissued a “buy” rating and issued a $18.00 target price on shares of Chegg in a research note on Wednesday, November 1st.

Chegg (NYSE:CHGG) traded up $0.38 on Friday, hitting $16.47. The stock had a trading volume of 524,175 shares, compared to its average volume of 595,331. Chegg has a 1 year low of $6.84 and a 1 year high of $17.04. The stock has a market cap of $1,790.00, a PE ratio of -63.35, a P/E/G ratio of 6.37 and a beta of 1.79.

Chegg (NYSE:CHGG) last posted its quarterly earnings data on Monday, October 30th. The technology company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. Chegg had a negative return on equity of 5.06% and a negative net margin of 10.40%. The firm had revenue of $62.60 million during the quarter, compared to analysts’ expectations of $57.75 million. During the same period in the prior year, the business earned ($0.17) EPS. The company’s revenue for the quarter was down 12.2% compared to the same quarter last year. equities analysts anticipate that Chegg will post -0.09 earnings per share for the current fiscal year.

In other Chegg news, insider Esther Lem sold 9,400 shares of the company’s stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $17.00, for a total transaction of $159,800.00. Following the completion of the transaction, the insider now owns 505,120 shares of the company’s stock, valued at approximately $8,587,040. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Daniel Rosensweig sold 200,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $14.03, for a total value of $2,806,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 885,501 shares of company stock valued at $13,502,627. 20.40% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Schwab Charles Investment Management Inc. raised its position in Chegg by 6.4% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 414,828 shares of the technology company’s stock valued at $6,770,000 after purchasing an additional 24,819 shares during the last quarter. Summit Creek Advisors LLC raised its position in Chegg by 200.4% during the 4th quarter. Summit Creek Advisors LLC now owns 517,620 shares of the technology company’s stock valued at $8,448,000 after purchasing an additional 345,321 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in Chegg by 12.0% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 132,734 shares of the technology company’s stock valued at $1,970,000 after purchasing an additional 14,171 shares during the last quarter. Neuberger Berman Group LLC raised its position in Chegg by 84.0% during the 3rd quarter. Neuberger Berman Group LLC now owns 46,000 shares of the technology company’s stock valued at $683,000 after purchasing an additional 21,000 shares during the last quarter. Finally, California Public Employees Retirement System raised its position in Chegg by 54.5% during the 3rd quarter. California Public Employees Retirement System now owns 51,307 shares of the technology company’s stock valued at $761,000 after purchasing an additional 18,107 shares during the last quarter.

COPYRIGHT VIOLATION WARNING: “Chegg Inc (CHGG) Given Average Recommendation of “Buy” by Brokerages” was reported by American Banking News and is owned by of American Banking News. If you are reading this piece of content on another site, it was stolen and reposted in violation of United States & international trademark and copyright laws. The original version of this piece of content can be read at https://www.americanbankingnews.com/2018/01/19/chegg-inc-chgg-given-average-recommendation-of-buy-by-brokerages.html.

About Chegg

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. The Company matches domestic and international students with colleges, universities and other academic institutions (collectively referred to as colleges) in the United States.

Analyst Recommendations for Chegg (NYSE:CHGG)

Receive News & Ratings for Chegg Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chegg and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply