First Analysis upgraded shares of Chegg (NYSE:CHGG) from a neutral rating to an outperform rating in a research report report published on Tuesday morning, Marketbeat.com reports. First Analysis currently has $30.00 target price on the technology company’s stock.
Several other equities research analysts also recently weighed in on the stock. Citigroup raised shares of Chegg from a neutral rating to a buy rating in a research report on Thursday, October 25th. Barrington Research reissued a buy rating and set a $32.00 price target on shares of Chegg in a research report on Monday, October 22nd. Zacks Investment Research raised shares of Chegg from a hold rating to a buy rating and set a $31.00 price target for the company in a research report on Tuesday, October 9th. Craig Hallum raised shares of Chegg from a hold rating to a buy rating in a research report on Tuesday, October 2nd. Finally, Morgan Stanley raised their price target on shares of Chegg from $24.00 to $28.00 and gave the company a hold rating in a research report on Wednesday, August 1st. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Chegg currently has a consensus rating of Buy and an average target price of $26.80.
CHGG stock opened at $26.72 on Tuesday. Chegg has a 52-week low of $13.75 and a 52-week high of $32.82. The company has a market cap of $3.13 billion, a PE ratio of -296.89, a price-to-earnings-growth ratio of 12.99 and a beta of 1.42. The company has a quick ratio of 10.11, a current ratio of 6.56 and a debt-to-equity ratio of 0.72.
Chegg (NYSE:CHGG) last released its earnings results on Monday, October 29th. The technology company reported $0.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.04. The firm had revenue of $74.20 million during the quarter, compared to analyst estimates of $69.02 million. Chegg had a negative net margin of 5.55% and a positive return on equity of 1.75%. The business’s revenue was up 18.5% on a year-over-year basis. During the same period last year, the business earned $0.01 earnings per share. Sell-side analysts predict that Chegg will post 0.09 EPS for the current year.
In other Chegg news, CEO Daniel Rosensweig sold 150,000 shares of Chegg stock in a transaction that occurred on Friday, October 12th. The shares were sold at an average price of $25.43, for a total value of $3,814,500.00. Following the completion of the sale, the chief executive officer now owns 2,378,305 shares of the company’s stock, valued at approximately $60,480,296.15. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John E. York sold 25,000 shares of Chegg stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $29.10, for a total transaction of $727,500.00. Following the completion of the sale, the director now directly owns 33,214 shares of the company’s stock, valued at approximately $966,527.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 565,000 shares of company stock valued at $16,156,650. 10.80% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the company. Bank of Montreal Can grew its position in shares of Chegg by 612.4% during the 3rd quarter. Bank of Montreal Can now owns 5,920 shares of the technology company’s stock valued at $168,000 after acquiring an additional 5,089 shares during the period. NewSquare Capital LLC bought a new stake in shares of Chegg during the 2nd quarter valued at $178,000. BB&T Securities LLC bought a new stake in shares of Chegg during the 2nd quarter valued at $209,000. Strs Ohio bought a new stake in shares of Chegg during the 2nd quarter valued at $241,000. Finally, HM Payson & Co. bought a new stake in shares of Chegg during the 2nd quarter valued at $245,000.
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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