Craig Hallum Reaffirms “Hold” Rating for Chegg, Inc. (CHGG)
A number of other research analysts have also recently commented on the company. Jefferies Group reissued a buy rating on shares of Chegg in a research note on Thursday, November 17th. Barrington Research increased their target price on Chegg from $10.00 to $11.00 and gave the company an outperform rating in a research note on Thursday, September 29th. Zacks Investment Research raised Chegg from a hold rating to a buy rating and set a $9.00 target price on the stock in a research note on Monday, November 21st. J P Morgan Chase & Co reissued a buy rating and issued a $10.00 target price on shares of Chegg in a research note on Thursday, November 17th. Finally, Lake Street Capital increased their target price on Chegg from $8.00 to $9.00 and gave the company 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 given a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $9.06.
Chegg (NYSE:CHGG) opened at 7.65 on Friday. The firm’s market capitalization is $698.80 million. Chegg has a 52 week low of $3.15 and a 52 week high of $8.57. The stock has a 50 day moving average price of $7.79 and a 200-day moving average price of $6.91.
Chegg (NYSE:CHGG) last released its earnings results on Monday, November 7th. The company reported ($0.03) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.01. The business had revenue of $71.30 million for the quarter, compared to analysts’ expectations of $67.89 million. Chegg had a negative return on equity of 12.67% and a negative net margin of 14.32%. The firm’s revenue was down 12.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.12) earnings per share. Analysts anticipate that Chegg will post $0.09 EPS for the current fiscal year.
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Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Great West Life Assurance Co. Can purchased a new stake in Chegg during the third quarter worth $101,000. Gilder Gagnon Howe & Co. LLC purchased a new stake in Chegg during the third quarter worth $105,000. BlackRock Inc. raised its stake in Chegg by 5.9% in the third quarter. BlackRock Inc. now owns 15,351 shares of the company’s stock worth $108,000 after buying an additional 850 shares in the last quarter. Ameriprise Financial Inc. purchased a new stake in Chegg during the third quarter worth $128,000. Finally, Zacks Investment Management purchased a new stake in Chegg during the second quarter worth $159,000. 69.27% of the stock is currently owned by hedge funds and other institutional investors.
Chegg Company Profile
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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