Chegg Inc (NYSE:CHGG) has earned a consensus recommendation of “Buy” from the fourteen analysts that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $45.63.
Several research firms have weighed in on CHGG. BMO Capital Markets upped their target price on Chegg from $37.00 to $43.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Citigroup upgraded Chegg from a “neutral” rating to a “buy” rating and dropped their price target for the company from $43.00 to $38.50 in a research note on Tuesday, November 5th. Northland Securities assumed coverage on Chegg in a research note on Wednesday, December 4th. They issued a “buy” rating and a $44.00 price target for the company. ValuEngine upgraded Chegg from a “sell” rating to a “hold” rating in a research note on Friday, January 10th. Finally, Lake Street Capital lowered their target price on Chegg from $38.00 to $35.00 and set a “hold” rating for the company in a research report on Tuesday, November 5th.
In other news, CEO Daniel Rosensweig sold 150,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $36.60, for a total value of $5,490,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,322,754 shares in the company, valued at approximately $85,012,796.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Robin Tomasello sold 9,406 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $37.03, for a total value of $348,304.18. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 631,015 shares of company stock valued at $23,652,729. Company insiders own 5.80% of the company’s stock.
NYSE CHGG traded up $0.61 on Wednesday, hitting $43.33. 2,066,895 shares of the company’s stock were exchanged, compared to its average volume of 962,895. The stock has a 50-day moving average of $38.81 and a 200-day moving average of $37.63. The company has a current ratio of 9.50, a quick ratio of 9.50 and a debt-to-equity ratio of 1.89. Chegg has a 52 week low of $28.29 and a 52 week high of $48.22. The stock has a market cap of $5.24 billion, a price-to-earnings ratio of -361.08, a P/E/G ratio of 3.82 and a beta of 1.01.
Chegg (NYSE:CHGG) last released its earnings results on Monday, November 4th. The technology company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.10. Chegg had a positive return on equity of 9.53% and a negative net margin of 3.27%. The firm had revenue of $94.20 million during the quarter, compared to analysts’ expectations of $89.04 million. During the same period in the prior year, the company earned $0.07 earnings per share. The company’s quarterly revenue was up 27.0% on a year-over-year basis. As a group, analysts predict that Chegg will post 0.36 earnings per share 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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