Chegg (NYSE:CHGG) had its price target hoisted by JPMorgan Chase & Co. from $18.00 to $20.00 in a research note issued to investors on Tuesday, February 13th. The brokerage currently has an overweight rating on the technology company’s stock.
A number of other analysts have also commented on the company. Lake Street Capital increased their price objective on Chegg from $15.00 to $16.00 and gave the company a hold rating in a research note on Tuesday, February 13th. BMO Capital Markets reaffirmed a buy rating and set a $20.00 price objective on shares of Chegg in a research note on Wednesday, January 17th. Northland Securities reaffirmed a buy rating and set a $20.00 price objective on shares of Chegg in a research note on Tuesday, January 9th. Citigroup began coverage on Chegg in a research note on Monday, November 20th. They set a buy rating and a $19.00 price objective on the stock. Finally, BidaskClub lowered Chegg from a buy rating to a hold rating in a research note on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $17.09.
Chegg (CHGG) traded up $0.43 during trading on Tuesday, reaching $20.35. The company’s stock had a trading volume of 719,718 shares, compared to its average volume of 1,588,597. The firm has a market capitalization of $2,184.58, a price-to-earnings ratio of -96.90, a price-to-earnings-growth ratio of 7.11 and a beta of 1.74. Chegg has a 12 month low of $7.81 and a 12 month high of $20.78.
Chegg (NYSE:CHGG) last posted its earnings results on Monday, February 12th. The technology company reported $0.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.02. The company had revenue of $73.51 million for the quarter, compared to analyst estimates of $70.61 million. Chegg had a negative return on equity of 2.64% and a negative net margin of 7.95%. Chegg’s revenue was up 16.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.10 earnings per share. research analysts predict that Chegg will post 0.11 EPS for the current year.
In related news, insider Nathan J. Schultz sold 66,666 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $20.02, for a total transaction of $1,334,653.32. Following the transaction, the insider now directly owns 578,878 shares in the company, valued at $11,589,137.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Daniel Rosensweig sold 199,611 shares of the stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $16.00, for a total value of $3,193,776.00. Following the transaction, the chief executive officer now owns 2,207,689 shares in the company, valued at $35,323,024. The disclosure for this sale can be found here. Insiders have sold 935,989 shares of company stock worth $15,637,038 over the last quarter. 20.40% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. purchased a new position in shares of Chegg in the 2nd quarter worth about $104,000. Great West Life Assurance Co. Can raised its holdings in shares of Chegg by 106.2% in the 3rd quarter. Great West Life Assurance Co. Can now owns 7,359 shares of the technology company’s stock worth $108,000 after purchasing an additional 3,790 shares during the period. Stifel Financial Corp purchased a new position in shares of Chegg in the 2nd quarter worth about $116,000. Amalgamated Bank raised its holdings in shares of Chegg by 9.0% in the 2nd quarter. Amalgamated Bank now owns 10,916 shares of the technology company’s stock worth $134,000 after purchasing an additional 905 shares during the period. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in shares of Chegg in the 3rd quarter worth about $161,000.
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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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