News coverage about Chegg (NYSE:CHGG) has been trending somewhat positive on Tuesday, Accern Sentiment reports. Accern ranks the sentiment of news coverage by analyzing more than 20 million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Chegg earned a media sentiment score of 0.13 on Accern’s scale. Accern also gave news coverage about the technology company an impact score of 45.4391042846061 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the near future.
Here are some of the news articles that may have effected Accern Sentiment’s analysis:
A number of research firms recently commented on CHGG. First Analysis lowered shares of Chegg from an “overweight” rating to an “equal weight” rating and set a $18.00 price target on the stock. in a research report on Tuesday, October 31st. BidaskClub raised shares of Chegg from a “hold” rating to a “buy” rating in a research report on Tuesday, October 31st. J P Morgan Chase & Co increased their price objective on shares of Chegg from $15.00 to $18.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 1st. Northland Securities reiterated a “buy” rating and set a $18.00 price objective on shares of Chegg in a research note on Wednesday, November 1st. Finally, Barrington Research reiterated an “outperform” rating and set a $19.00 price objective (up from $17.00) on shares of Chegg in a research note on Tuesday, October 31st. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $15.42.
Shares of Chegg (NYSE:CHGG) opened at $15.03 on Tuesday. Chegg has a one year low of $6.84 and a one year high of $16.50.
Chegg (NYSE:CHGG) last posted its quarterly earnings results on Monday, October 30th. The technology company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. Chegg had a negative net margin of 10.40% and a negative return on equity of 5.06%. The company had revenue of $62.60 million for the quarter, compared to the consensus estimate of $57.75 million. During the same period last year, the company posted ($0.17) EPS. The firm’s quarterly revenue was down 12.2% compared to the same quarter last year. research analysts anticipate that Chegg will post -0.09 earnings per share for the current year.
In other news, insider Michael A. Osier sold 114,928 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $14.69, for a total value of $1,688,292.32. Following the sale, the insider now directly owns 591,902 shares in the company, valued at approximately $8,695,040.38. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Daniel Rosensweig sold 200,000 shares of the firm’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 transaction of $2,806,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 645,154 shares of company stock worth $9,466,299. 20.40% of the stock is currently owned by corporate insiders.
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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.
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