Stock analysts at Northland Securities began coverage on shares of Chegg (NYSE:CHGG) in a report released on Wednesday, Stock Target Advisor reports. The firm set a “buy” rating and a $44.00 price target on the technology company’s stock. Northland Securities’ price objective points to a potential upside of 17.05% from the stock’s current price.
Several other equities research analysts also recently commented on CHGG. ValuEngine upgraded Chegg from a “sell” rating to a “hold” rating in a report on Monday, November 25th. William Blair assumed coverage on Chegg in a report on Monday, August 12th. They issued an “outperform” rating for the company. Jefferies Financial Group raised shares of Chegg from a “hold” rating to a “buy” rating and lowered their price objective for the company from $46.00 to $44.00 in a research report on Monday, September 9th. Zacks Investment Research lowered shares of Chegg from a “buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Finally, Morgan Stanley assumed coverage on shares of Chegg in a research report on Monday, November 25th. They set an “overweight” rating and a $45.00 target price on the stock. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $43.88.
Shares of NYSE CHGG opened at $37.59 on Wednesday. The stock has a fifty day moving average price of $34.83 and a 200 day moving average price of $37.45. The company has a current ratio of 9.50, a quick ratio of 9.50 and a debt-to-equity ratio of 1.89. Chegg has a 12-month low of $25.16 and a 12-month high of $48.22. The company has a market cap of $4.69 billion, a P/E ratio of 417.67, a P/E/G ratio of 3.59 and a beta of 1.03.
Chegg (NYSE:CHGG) last issued its quarterly earnings data on Monday, November 4th. The technology company reported $0.18 EPS for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.10. Chegg had a positive return on equity of 9.53% and a negative net margin of 3.27%. The company had revenue of $94.20 million for the quarter, compared to analysts’ expectations of $89.04 million. During the same quarter in the previous year, the firm posted $0.07 earnings per share. The firm’s quarterly revenue was up 27.0% on a year-over-year basis. On average, sell-side analysts forecast that Chegg will post 0.36 EPS for the current fiscal year.
In related news, CEO Daniel Rosensweig sold 150,000 shares of Chegg stock in a transaction on Friday, September 20th. The shares were sold at an average price of $33.34, for a total value of $5,001,000.00. Following the completion of the sale, the chief executive officer now owns 2,303,827 shares in the company, valued at $76,809,592.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CMO Esther Lem sold 50,000 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $38.19, for a total transaction of $1,909,500.00. Following the completion of the sale, the chief marketing officer now directly owns 306,345 shares in the company, valued at $11,699,315.55. The disclosure for this sale can be found here. In the last quarter, insiders sold 650,604 shares of company stock worth $22,307,684. Insiders own 5.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC lifted its holdings in Chegg by 18,377.4% during the 1st quarter. FMR LLC now owns 599,961 shares of the technology company’s stock worth $22,871,000 after buying an additional 596,714 shares during the last quarter. First Trust Advisors LP raised its position in shares of Chegg by 196.7% during the 1st quarter. First Trust Advisors LP now owns 163,622 shares of the technology company’s stock valued at $6,237,000 after acquiring an additional 108,483 shares in the last quarter. Amundi Pioneer Asset Management Inc. raised its position in shares of Chegg by 107.9% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 29,943 shares of the technology company’s stock valued at $1,141,000 after acquiring an additional 15,543 shares in the last quarter. NEXT Financial Group Inc lifted its stake in Chegg by 1,834.0% during the second quarter. NEXT Financial Group Inc now owns 1,934 shares of the technology company’s stock worth $75,000 after purchasing an additional 1,834 shares during the last quarter. Finally, Commonwealth Equity Services LLC lifted its stake in Chegg by 19.0% during the second quarter. Commonwealth Equity Services LLC now owns 10,526 shares of the technology company’s stock worth $406,000 after purchasing an additional 1,678 shares during 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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