Chegg Inc. (CHGG) Price Target Increased to $11.00 by Analysts at Barrington Research
CHGG has been the subject of a number of other research reports. Jefferies Group restated a buy rating and set a $12.00 price objective on shares of Chegg in a report on Monday, August 1st. TheStreet upgraded shares of Chegg from a sell rating to a hold rating in a research report on Tuesday, August 2nd. BMO Capital Markets reiterated an outperform rating and set a $7.00 target price (up previously from $6.00) on shares of Chegg in a research report on Wednesday, August 3rd. Finally, Piper Jaffray Cos. increased their target price on shares of Chegg from $6.00 to $7.00 and gave the stock an overweight rating in a research report on Tuesday, August 2nd. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Chegg has an average rating of Buy and a consensus target price of $8.41.
Chegg (NYSE:CHGG) traded up 0.28% during trading on Thursday, reaching $7.05. 60,749 shares of the company were exchanged. Chegg has a one year low of $3.15 and a one year high of $8.03. The company’s market capitalization is $641.75 million. The firm’s 50-day moving average is $6.98 and its 200 day moving average is $5.40.
Chegg (NYSE:CHGG) last posted its quarterly earnings data on Monday, August 1st. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. Chegg had a negative net margin of 16.81% and a negative return on equity of 15.55%. The business earned $53 million during the quarter, compared to the consensus estimate of $67.10 million. During the same quarter last year, the company posted $0.01 earnings per share. The firm’s quarterly revenue was down 20.9% compared to the same quarter last year. On average, analysts anticipate that Chegg will post $0.10 EPS for the current fiscal year.
In other Chegg news, insider Charles Geiger sold 74,334 shares of Chegg stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $6.06, for a total transaction of $450,464.04. Following the completion of the sale, the insider now directly owns 296,731 shares in the company, valued at $1,798,189.86. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 18.00% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of CHGG. Edge Wealth Management LLC acquired a new position in Chegg during the second quarter valued at approximately $153,000. Zacks Investment Management acquired a new position in Chegg during the second quarter valued at approximately $159,000. BlackRock Advisors LLC increased its position in Chegg by 7.1% in the second quarter. BlackRock Advisors LLC now owns 34,741 shares of the company’s stock valued at $174,000 after buying an additional 2,300 shares during the period. Dimensional Fund Advisors LP increased its position in Chegg by 274.4% in the second quarter. Dimensional Fund Advisors LP now owns 41,935 shares of the company’s stock valued at $210,000 after buying an additional 30,735 shares during the period. Finally, American International Group Inc. increased its position in Chegg by 3.3% in the second quarter. American International Group Inc. now owns 46,347 shares of the company’s stock valued at $232,000 after buying an additional 1,499 shares during the period. 67.20% of the stock is currently owned by hedge funds and other institutional investors.
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. It 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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