Chegg, Inc. (NYSE:CHGG) had its price objective raised by Barrington Research from $11.00 to $12.50 in a research note issued to investors on Tuesday. The brokerage presently has an “outperform” rating on the stock. Barrington Research’s price target would indicate a potential upside of 68.92% from the stock’s current price.
A number of other brokerages have also recently weighed in on CHGG. Zacks Investment Research upgraded shares of Chegg from a “hold” rating to a “buy” rating and set a $9.00 price target for the company in a research note on Monday, November 21st. J P Morgan Chase & Co reiterated a “buy” rating and set a $10.00 price target on shares of Chegg in a research note on Thursday, November 17th. Jefferies Group LLC reiterated a “buy” rating on shares of Chegg in a research note on Thursday, November 17th. Craig Hallum reiterated a “hold” rating and set a $8.00 price target on shares of Chegg in a research note on Saturday, January 14th. Finally, Lake Street Capital raised their target price 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. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $9.25.
Shares of Chegg (NYSE:CHGG) traded up 8.8392% during trading on Tuesday, reaching $8.0541. The company’s stock had a trading volume of 1,680,337 shares. Chegg has a 12 month low of $3.15 and a 12 month high of $8.57. The firm’s market cap is $735.72 million. The company’s 50 day moving average price is $7.29 and its 200 day moving average price is $7.21.
Chegg (NYSE:CHGG) last issued its quarterly earnings results on Monday, February 13th. The company reported $0.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.11 by $0.01. The business had revenue of $56.40 million for the quarter, compared to analyst estimates of $58.68 million. Chegg had a negative return on equity of 12.67% and a negative net margin of 14.32%. The firm’s revenue for the quarter was down 7.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.14 EPS. On average, equities analysts predict that Chegg will post $0.09 earnings per share for the current year.
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Institutional investors have recently made changes to their positions in the stock. Great West Life Assurance Co. Can bought a new position in shares of Chegg during the third quarter worth about $101,000. Gilder Gagnon Howe & Co. LLC bought a new position in shares of Chegg during the third quarter worth about $105,000. Dynamic Technology Lab Private Ltd increased its position in shares of Chegg by 83.5% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 23,747 shares of the company’s stock worth $175,000 after buying an additional 10,804 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Chegg by 23.1% in the third quarter. Wells Fargo & Company MN now owns 28,051 shares of the company’s stock worth $199,000 after buying an additional 5,258 shares in the last quarter. Finally, Trexquant Investment LP increased its position in shares of Chegg by 64.1% in the fourth quarter. Trexquant Investment LP now owns 27,894 shares of the company’s stock worth $206,000 after buying an additional 10,898 shares in the last quarter. Institutional investors and hedge funds own 67.17% of the company’s stock.
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.
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