Chegg Inc (NYSE:CHGG) has earned a consensus recommendation of “Buy” from the fourteen analysts that are currently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $44.33.
A number of equities analysts recently issued reports on the company. William Blair assumed coverage on Chegg in a report on Monday, August 12th. They set an “outperform” rating for the company. JPMorgan Chase & Co. boosted their price objective on Chegg from $43.00 to $49.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Northland Securities restated a “buy” rating and set a $48.00 price objective on shares of Chegg in a report on Thursday, September 5th. Needham & Company LLC restated a “buy” rating and set a $50.00 price objective (up previously from $44.00) on shares of Chegg in a report on Tuesday, July 30th. Finally, ValuEngine cut Chegg from a “strong-buy” rating to a “buy” rating in a report on Wednesday, September 4th.
Shares of Chegg stock traded up $1.21 on Thursday, reaching $34.88. The company had a trading volume of 62,157 shares, compared to its average volume of 1,800,058. The firm has a market cap of $4.10 billion, a price-to-earnings ratio of 385.44, a P/E/G ratio of 4.96 and a beta of 1.03. The company has a debt-to-equity ratio of 1.90, a current ratio of 13.22 and a quick ratio of 13.22. The firm’s 50-day moving average price is $40.76 and its two-hundred day moving average price is $39.38. Chegg has a 1 year low of $22.67 and a 1 year high of $48.22.
Chegg (NYSE:CHGG) last announced its earnings results on Monday, July 29th. The technology company reported $0.10 EPS for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.06. The firm had revenue of $93.90 million during the quarter, compared to analysts’ expectations of $92.44 million. Chegg had a positive return on equity of 7.12% and a negative net margin of 4.07%. The company’s quarterly revenue was up 26.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.12 EPS. As a group, analysts anticipate that Chegg will post 0.23 EPS for the current year.
In other Chegg news, CEO Daniel Rosensweig sold 150,000 shares of Chegg stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $39.85, for a total transaction of $5,977,500.00. Following the completion of the sale, the chief executive officer now directly owns 2,322,754 shares of the company’s stock, valued at approximately $92,561,746.90. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John Paul Fillmore sold 20,143 shares of Chegg stock in a transaction on Monday, July 1st. The shares were sold at an average price of $39.45, for a total value of $794,641.35. Following the sale, the insider now directly owns 253,565 shares of the company’s stock, valued at $10,003,139.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,130,114 shares of company stock valued at $47,708,823. 5.80% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Stephens Inc. AR raised its position in shares of Chegg by 1,027.2% in the 1st quarter. Stephens Inc. AR now owns 1,781 shares of the technology company’s stock worth $68,000 after acquiring an additional 1,623 shares in the last quarter. Icon Wealth Partners LLC bought a new position in shares of Chegg in the 1st quarter worth $71,000. NEXT Financial Group Inc raised its position in shares of Chegg by 1,834.0% in the 2nd quarter. NEXT Financial Group Inc now owns 1,934 shares of the technology company’s stock worth $75,000 after acquiring an additional 1,834 shares in the last quarter. Griffin Asset Management Inc. bought a new position in shares of Chegg in the 2nd quarter worth $77,000. Finally, Institutional & Family Asset Management LLC raised its position in shares of Chegg by 870.9% in the 1st quarter. Institutional & Family Asset Management LLC now owns 2,670 shares of the technology company’s stock worth $102,000 after acquiring an additional 2,395 shares in the last quarter.
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.
Featured Article: Limitations of analyzing profit margin
Receive News & Ratings for Chegg Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chegg and related companies with MarketBeat.com's FREE daily email newsletter.