First Analysis cut shares of Chegg, Inc. (NYSE:CHGG) from an overweight rating to an equal weight rating in a research note published on Tuesday, Marketbeat.com reports. They currently have $18.00 target price on the technology company’s stock.

Other analysts have also recently issued reports about the stock. BidaskClub cut shares of Chegg from a strong-buy rating to a buy rating in a report on Wednesday, August 2nd. Zacks Investment Research raised shares of Chegg from a hold rating to a buy rating and set a $16.00 target price for the company in a report on Friday, July 28th. Northland Securities reaffirmed a buy rating and set a $16.00 target price on shares of Chegg in a report on Friday, July 28th. Jefferies Group LLC reaffirmed a buy rating and set a $17.00 target price on shares of Chegg in a report on Thursday, September 7th. Finally, Lake Street Capital cut shares of Chegg from a buy rating to a hold rating and upped their target price for the company from $12.00 to $14.00 in a report on Wednesday, July 26th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Chegg has an average rating of Buy and an average price target of $15.09.

Chegg (NYSE CHGG) opened at $14.74 on Tuesday.

Chegg (NYSE:CHGG) last released its quarterly earnings data on Monday, October 30th. The technology company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.02. Chegg had a negative net margin of 10.40% and a negative return on equity of 5.06%. The firm had revenue of $62.60 million during the quarter, compared to analysts’ expectations of $57.75 million. During the same period in the previous year, the company earned ($0.17) earnings per share. The firm’s quarterly revenue was down 12.2% on a year-over-year basis. equities analysts forecast that Chegg will post -0.11 earnings per share for the current year.

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In other Chegg news, General Counsel Dave Jr. Borders sold 13,256 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $15.06, for a total value of $199,635.36. Following the completion of the transaction, the general counsel now directly owns 443,810 shares in the company, valued at $6,683,778.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Charles Geiger sold 70,300 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $13.84, for a total transaction of $972,952.00. Following the completion of the transaction, the insider now owns 543,468 shares of the company’s stock, valued at $7,521,597.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 240,526 shares of company stock valued at $3,515,359. Company insiders own 20.40% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the business. Legal & General Group Plc boosted its position in shares of Chegg by 2.6% in the second quarter. Legal & General Group Plc now owns 20,648 shares of the technology company’s stock worth $254,000 after purchasing an additional 525 shares during the period. Amalgamated Bank boosted its position in shares of Chegg by 9.0% during the second quarter. Amalgamated Bank now owns 10,916 shares of the technology company’s stock worth $134,000 after acquiring an additional 905 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Chegg by 7.2% during the first quarter. Principal Financial Group Inc. now owns 13,743 shares of the technology company’s stock worth $116,000 after acquiring an additional 926 shares during the last quarter. Nationwide Fund Advisors boosted its position in shares of Chegg by 2.2% during the second quarter. Nationwide Fund Advisors now owns 47,047 shares of the technology company’s stock worth $578,000 after acquiring an additional 1,005 shares during the last quarter. Finally, Parkwood LLC boosted its position in shares of Chegg by 8.1% during the second quarter. Parkwood LLC now owns 14,141 shares of the technology company’s stock worth $174,000 after acquiring an additional 1,064 shares during the last quarter. Institutional investors and hedge funds own 84.23% of the company’s stock.

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. The Company matches domestic and international students with colleges, universities and other academic institutions (collectively referred to as colleges) in the United States.

Analyst Recommendations for Chegg (NYSE:CHGG)

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