Chegg Inc. (NYSE:CHGG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Monday. The firm currently has a $9.00 price target on the stock. Zacks Investment Research’s price target suggests a potential upside of 9.22% from the company’s previous close.

According to Zacks, “Chegg, Inc. provides a social education platform. The Company rents and sells print textbooks; and provides eTextbooks, supplemental materials, homework help, textbook buyback, courses, and college admissions and scholarship services, as well as offers enrollment marketing and brand advertising services. Chegg, Inc. is headquartered in Santa Clara, California. “

CHGG has been the subject of a number of other reports. TheStreet raised shares of Chegg from a “sell” rating to a “hold” rating in a research note on Tuesday, August 2nd. BMO Capital Markets reissued an “outperform” rating and set a $7.00 price target (up from $6.00) on shares of Chegg in a research note on Wednesday, August 3rd. Barrington Research reissued an “outperform” rating and set a $10.00 price target on shares of Chegg in a research note on Tuesday, August 16th. Lake Street Capital boosted their price target on shares of Chegg from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Tuesday, November 8th. Finally, Piper Jaffray Cos. boosted their price target on shares of Chegg from $6.00 to $7.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 2nd. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Chegg currently has an average rating of “Buy” and a consensus target price of $9.00.

Analyst Recommendations for Chegg (NYSE:CHGG)

Chegg (NYSE:CHGG) opened at 8.24 on Monday. The company has a 50-day moving average of $7.11 and a 200-day moving average of $6.14. The firm’s market cap is $752.70 million. Chegg has a 1-year low of $3.15 and a 1-year high of $8.32.

Chegg (NYSE:CHGG) last announced its quarterly earnings results on Monday, November 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.01. Chegg had a negative net margin of 14.32% and a negative return on equity of 12.67%. The firm earned $71.30 million during the quarter, compared to the consensus estimate of $67.89 million. During the same period last year, the firm posted ($0.12) EPS. The firm’s quarterly revenue was down 12.3% on a year-over-year basis. Analysts predict that Chegg will post $0.09 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CHGG. TimesSquare Capital Management LLC bought a new position in Chegg during the third quarter valued at $24,553,000. BlackRock Fund Advisors boosted its position in Chegg by 7.7% in the third quarter. BlackRock Fund Advisors now owns 2,235,166 shares of the company’s stock valued at $15,847,000 after buying an additional 159,809 shares during the period. Emerald Mutual Fund Advisers Trust boosted its position in Chegg by 8.5% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 2,156,082 shares of the company’s stock valued at $15,287,000 after buying an additional 168,008 shares during the period. Emerald Advisers Inc. PA boosted its position in Chegg by 8.1% in the third quarter. Emerald Advisers Inc. PA now owns 2,066,302 shares of the company’s stock valued at $14,650,000 after buying an additional 154,230 shares during the period. Finally, Elk Creek Partners LLC boosted its position in Chegg by 36.5% in the second quarter. Elk Creek Partners LLC now owns 1,978,208 shares of the company’s stock valued at $5,017,000 after buying an additional 528,539 shares during the period. Institutional investors own 68.32% of the company’s stock.

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About Chegg

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.

5 Day Chart for NYSE:CHGG

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