Brokerages Set Chegg Inc (CHGG) Target Price at $23.88
Chegg Inc (NYSE:CHGG) has been assigned a consensus rating of “Hold” from the fourteen analysts that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation, three have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $23.88.
CHGG has been the topic of a number of research analyst reports. Morgan Stanley lifted their price target on shares of Chegg from $24.00 to $28.00 and gave the company a “hold” rating in a report on Wednesday, August 1st. Barrington Research reiterated an “outperform” rating and issued a $25.00 price target on shares of Chegg in a report on Friday, April 27th. Citigroup lifted their price target on shares of Chegg from $23.50 to $27.00 and gave the company a “hold” rating in a report on Tuesday, July 31st. Lake Street Capital lifted their price target on shares of Chegg from $20.00 to $26.00 and gave the company a “hold” rating in a report on Tuesday, July 31st. Finally, ValuEngine upgraded shares of Chegg from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 2nd.
In other news, CEO Daniel Rosensweig sold 150,000 shares of the firm’s stock in a transaction on Monday, May 14th. The shares were sold at an average price of $24.82, for a total value of $3,723,000.00. Following the transaction, the chief executive officer now owns 2,433,753 shares of the company’s stock, valued at approximately $60,405,749.46. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jenny Brandemuehl sold 75,000 shares of the firm’s stock in a transaction on Friday, June 1st. The shares were sold at an average price of $27.63, for a total transaction of $2,072,250.00. Following the completion of the transaction, the insider now directly owns 579,559 shares in the company, valued at approximately $16,013,215.17. The disclosure for this sale can be found here. In the last quarter, insiders sold 660,904 shares of company stock worth $18,269,583. 10.80% of the stock is owned by company insiders.
Chegg traded up $0.77, reaching $29.51, during mid-day trading on Wednesday, according to Marketbeat. 1,200,256 shares of the stock were exchanged, compared to its average volume of 1,309,665. Chegg has a 1-year low of $13.52 and a 1-year high of $29.84. The firm has a market cap of $3.18 billion, a P/E ratio of -327.89, a price-to-earnings-growth ratio of 16.93 and a beta of 1.43. The company has a debt-to-equity ratio of 0.71, a quick ratio of 10.11 and a current ratio of 10.11.
Chegg (NYSE:CHGG) last announced its earnings results on Monday, July 30th. The technology company reported $0.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.04. Chegg had a negative net margin of 5.01% and a positive return on equity of 0.87%. The firm had revenue of $74.22 million for the quarter, compared to analyst estimates of $70.16 million. During the same quarter last year, the business earned $0.06 earnings per share. Chegg’s revenue was up 31.8% compared to the same quarter last year. equities analysts predict that Chegg will post 0.07 EPS for the current year.
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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