Shares of Chegg Inc (NYSE:CHGG) have received an average rating of “Buy” from the thirteen ratings firms that are covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $36.25.
Several analysts recently issued reports on CHGG shares. JPMorgan Chase & Co. upped their price target on shares of Chegg to $42.00 and gave the company an “overweight” rating in a report on Tuesday, February 12th. Zacks Investment Research raised shares of Chegg from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a report on Friday, April 5th. Lake Street Capital upped their price target on shares of Chegg to $33.00 and gave the company a “hold” rating in a report on Tuesday, February 12th. Citigroup cut shares of Chegg from a “buy” rating to a “neutral” rating and set a $36.00 price target on the stock. in a report on Friday, February 8th. Finally, Craig Hallum upped their price target on shares of Chegg from $34.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, February 12th.
CHGG traded up $0.33 during trading on Monday, hitting $38.13. The company had a trading volume of 902,645 shares, compared to its average volume of 1,921,182. The stock has a market capitalization of $4.31 billion, a PE ratio of 423.67, a P/E/G ratio of 7.41 and a beta of 1.30. The company has a debt-to-equity ratio of 0.69, a current ratio of 8.29 and a quick ratio of 8.29. Chegg has a 1-year low of $20.40 and a 1-year high of $41.69.
Chegg (NYSE:CHGG) last posted its quarterly earnings results on Monday, February 11th. The technology company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.03. The firm had revenue of $95.68 million for the quarter, compared to analysts’ expectations of $91.74 million. Chegg had a negative net margin of 4.64% and a positive return on equity of 4.31%. On average, equities research analysts forecast that Chegg will post 0.17 earnings per share for the current fiscal year.
In other Chegg news, insider Jenny Brandemuehl sold 68,953 shares of the business’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $38.00, for a total transaction of $2,620,214.00. Following the completion of the sale, the insider now owns 301,683 shares in the company, valued at $11,463,954. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Daniel Rosensweig sold 150,000 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $41.06, for a total transaction of $6,159,000.00. Following the sale, the chief executive officer now owns 2,322,754 shares of the company’s stock, valued at approximately $95,372,279.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 798,604 shares of company stock valued at $31,024,261. 10.80% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Parallel Advisors LLC increased its stake in Chegg by 22.8% during the fourth quarter. Parallel Advisors LLC now owns 1,558 shares of the technology company’s stock valued at $44,000 after purchasing an additional 289 shares during the last quarter. Legal & General Group Plc grew its position in shares of Chegg by 1.0% during the third quarter. Legal & General Group Plc now owns 37,514 shares of the technology company’s stock worth $1,066,000 after acquiring an additional 378 shares during the last quarter. NBW Capital LLC grew its position in shares of Chegg by 1.4% during the fourth quarter. NBW Capital LLC now owns 77,791 shares of the technology company’s stock worth $2,211,000 after acquiring an additional 1,065 shares during the last quarter. Bank of Montreal Can grew its position in shares of Chegg by 21.1% during the fourth quarter. Bank of Montreal Can now owns 7,169 shares of the technology company’s stock worth $203,000 after acquiring an additional 1,249 shares during the last quarter. Finally, National Asset Management Inc. grew its position in shares of Chegg by 21.4% during the fourth quarter. National Asset Management Inc. now owns 9,514 shares of the technology company’s stock worth $271,000 after acquiring an additional 1,676 shares during the last quarter.
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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