Analysts Set Chegg Inc. (CHGG) Price Target at $8.71
Chegg Inc. (NYSE:CHGG) has been assigned an average rating of “Buy” from the ten brokerages that are covering the stock. Three research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $8.50.
Several analysts recently commented on CHGG shares. Jefferies Group reaffirmed a “buy” rating and issued a $12.00 price target on shares of Chegg in a research note on Monday, August 1st. Piper Jaffray Cos. lifted their price objective on Chegg from $6.00 to $7.00 and gave the company an “overweight” rating in a research report on Tuesday, August 2nd. BMO Capital Markets reiterated an “outperform” rating and issued a $7.00 price objective (up previously from $6.00) on shares of Chegg in a research report on Wednesday, August 3rd. TheStreet upgraded Chegg from a “sell” rating to a “hold” rating in a research report on Tuesday, August 2nd. Finally, Barrington Research reiterated an “outperform” rating and issued a $10.00 price objective on shares of Chegg in a research report on Tuesday, August 16th.
Chegg (NYSE:CHGG) opened at 7.95 on Monday. The company’s market cap is $726.21 million. Chegg has a 52 week low of $3.15 and a 52 week high of $8.32. The company’s 50-day moving average price is $7.03 and its 200 day moving average price is $6.04.
Chegg (NYSE:CHGG) last announced its quarterly earnings results on Monday, November 7th. The company reported ($0.03) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.01. The business had revenue of $71.30 million for the quarter, compared to analyst estimates of $67.89 million. Chegg had a negative return on equity of 12.67% and a negative net margin of 14.32%. Chegg’s quarterly revenue was down 12.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.12) EPS. On average, analysts anticipate that Chegg will post $0.09 EPS for the current year.
Several large investors have recently added to or reduced their stakes in CHGG. Great West Life Assurance Co. Can bought a new stake in Chegg during the third quarter worth approximately $101,000. Gilder Gagnon Howe & Co. LLC bought a new stake in Chegg during the third quarter worth approximately $105,000. BlackRock Inc. increased its stake in Chegg by 5.9% in the third quarter. BlackRock Inc. now owns 15,351 shares of the company’s stock worth $108,000 after buying an additional 850 shares in the last quarter. Ameriprise Financial Inc. bought a new stake in Chegg during the third quarter worth approximately $128,000. Finally, Edge Wealth Management LLC bought a new stake in Chegg during the second quarter worth approximately $153,000. Institutional investors own 63.68% of the company’s stock.
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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