Chegg (NYSE:CHGG)‘s stock had its “buy” rating restated by Northland Securities in a research note issued to investors on Tuesday. They currently have a $20.00 price target on the technology company’s stock. Northland Securities’ price objective would indicate a potential upside of 19.83% from the stock’s current price.
A number of other equities research analysts also recently issued reports on CHGG. Zacks Investment Research downgraded Chegg from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. Barrington Research reissued an “outperform” rating and set a $19.00 price target (up previously from $17.00) on shares of Chegg in a research report on Tuesday, October 31st. JPMorgan Chase & Co. increased their price target on Chegg from $15.00 to $18.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 1st. First Analysis downgraded 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. Finally, BidaskClub downgraded Chegg from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Chegg has a consensus rating of “Buy” and a consensus price target of $15.58.
Chegg (NYSE CHGG) traded down $0.01 during trading hours on Tuesday, reaching $16.69. The company’s stock had a trading volume of 251,800 shares, compared to its average volume of 606,871. The company has a market capitalization of $1,810.00, a price-to-earnings ratio of -64.19, a price-to-earnings-growth ratio of 6.58 and a beta of 1.79. Chegg has a 12-month low of $6.84 and a 12-month high of $17.04.
Chegg (NYSE:CHGG) last released its quarterly earnings data on Monday, October 30th. The technology company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.02. The firm had revenue of $62.60 million for the quarter, compared to analyst estimates of $57.75 million. Chegg had a negative return on equity of 5.06% and a negative net margin of 10.40%. The business’s revenue for the quarter was down 12.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.17) earnings per share. equities 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 stock in a transaction on Monday, November 6th. The stock was sold at an average price of $14.69, for a total value of $1,688,292.32. Following the completion of the transaction, the insider now directly owns 591,902 shares in the company, valued at approximately $8,695,040.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael A. Osier sold 200,000 shares of the stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $15.25, for a total value of $3,050,000.00. Following the completion of the transaction, the insider now owns 653,061 shares of the company’s stock, valued at $9,959,180.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 876,101 shares of company stock worth $13,342,827. Company insiders own 20.40% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in CHGG. Gilder Gagnon Howe & Co. LLC lifted its stake in shares of Chegg by 56.3% in the 3rd quarter. Gilder Gagnon Howe & Co. LLC now owns 7,042,911 shares of the technology company’s stock valued at $104,517,000 after acquiring an additional 2,538,026 shares during the last quarter. Fred Alger Management Inc. acquired a new stake in shares of Chegg in the 2nd quarter valued at about $31,014,000. Millennium TVP Management Co. LLC acquired a new stake in shares of Chegg in the 3rd quarter valued at about $25,896,000. Lord Abbett & CO. LLC grew its stake in shares of Chegg by 113.7% in the 2nd quarter. Lord Abbett & CO. LLC now owns 2,117,780 shares of the technology company’s stock valued at $26,028,000 after buying an additional 1,126,806 shares during the period. Finally, Columbus Circle Investors acquired a new stake in shares of Chegg in the 3rd quarter valued at about $14,234,000.
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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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