Chegg (NYSE:CHGG) had its price target hoisted by Craig Hallum from $34.00 to $45.00 in a research note issued on Tuesday, The Fly reports. The brokerage currently has a “buy” rating on the technology company’s stock. Craig Hallum’s price objective suggests a potential upside of 21.52% from the company’s current price.
Several other brokerages have also recently commented on CHGG. Citigroup cut Chegg from a “buy” rating to a “neutral” rating and set a $36.00 target price on the stock. in a report on Friday, February 8th. Zacks Investment Research upgraded Chegg from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a report on Tuesday, January 1st. Jefferies Financial Group reduced their target price on Chegg from $30.00 to $28.00 and set a “hold” rating on the stock in a report on Tuesday, October 30th. Barrington Research reiterated a “buy” rating and issued a $32.00 target price on shares of Chegg in a report on Monday, October 22nd. Finally, First Analysis upgraded Chegg from a “neutral” rating to an “outperform” rating and set a $30.00 target price on the stock in a report on Tuesday, October 30th. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Chegg currently has a consensus rating of “Buy” and a consensus price target of $34.30.
Shares of Chegg stock traded down $0.43 on Tuesday, hitting $37.03. The stock had a trading volume of 323,644 shares, compared to its average volume of 1,696,366. Chegg has a twelve month low of $17.30 and a twelve month high of $38.76. The company has a debt-to-equity ratio of 0.72, a current ratio of 6.56 and a quick ratio of 6.56. The company has a market capitalization of $3.97 billion, a P/E ratio of -411.44, a P/E/G ratio of 7.77 and a beta of 1.21.
Chegg (NYSE:CHGG) last announced its earnings results on Monday, February 11th. The technology company reported $0.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.03. Chegg had a positive return on equity of 1.75% and a negative net margin of 5.55%. The business had revenue of $95.68 million for the quarter, compared to analysts’ expectations of $91.74 million. Equities analysts anticipate that Chegg will post 0.09 EPS for the current year.
In related news, Director John E. York sold 12,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 21st. The stock was sold at an average price of $25.03, for a total value of $312,875.00. Following the sale, the director now directly owns 20,714 shares in the company, valued at $518,471.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Dave Jr. Borders sold 15,000 shares of the stock in a transaction that occurred on Wednesday, January 2nd. The stock was sold at an average price of $27.90, for a total value of $418,500.00. Following the transaction, the general counsel now owns 500,120 shares in the company, valued at $13,953,348. The disclosure for this sale can be found here. Insiders sold 434,802 shares of company stock worth $13,561,872 over the last quarter. 10.80% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the business. BlackRock Inc. boosted its holdings in shares of Chegg by 6.6% during the 3rd quarter. BlackRock Inc. now owns 7,090,211 shares of the technology company’s stock worth $201,575,000 after buying an additional 441,891 shares in the last quarter. MetLife Investment Advisors LLC raised its position in shares of Chegg by 55.2% during the third quarter. MetLife Investment Advisors LLC now owns 75,458 shares of the technology company’s stock worth $2,145,000 after purchasing an additional 26,824 shares during the period. SeaTown Holdings Pte. Ltd. acquired a new position in shares of Chegg during the fourth quarter worth approximately $341,000. Rothschild & Co. Asset Management US Inc. acquired a new position in shares of Chegg during the third quarter worth approximately $2,185,000. Finally, Jefferies Group LLC raised its position in shares of Chegg by 100.6% during the third quarter. Jefferies Group LLC now owns 104,600 shares of the technology company’s stock worth $2,974,000 after purchasing an additional 52,458 shares during the period. Hedge funds and other institutional investors own 99.40% of the company’s stock.
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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