Craig Hallum Reiterates “Hold” Rating for Chegg, Inc. (CHGG)
Chegg, Inc. (NYSE:CHGG)‘s stock had its “hold” rating reaffirmed by investment analysts at Craig Hallum in a report issued on Saturday. They currently have a $8.00 target price on the stock. Craig Hallum’s price objective points to a potential upside of 4.58% from the stock’s previous close.
Several other analysts have also commented on the company. Jefferies Group reissued a “buy” rating on shares of Chegg in a report on Thursday, November 17th. Barrington Research raised their price objective on Chegg from $10.00 to $11.00 and gave the company an “outperform” rating in a report on Thursday, September 29th. Zacks Investment Research raised Chegg from a “hold” rating to a “buy” rating and set a $9.00 price target on the stock in a research note on Monday, November 21st. J P Morgan Chase & Co reaffirmed a “buy” rating and issued a $10.00 price target on shares of Chegg in a research note on Thursday, November 17th. Finally, Lake Street Capital lifted their price target on Chegg from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Tuesday, November 8th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $9.06.
Shares of Chegg (NYSE:CHGG) opened at 7.65 on Friday. Chegg has a 12-month low of $3.15 and a 12-month high of $8.57. The company’s 50-day moving average price is $7.79 and its 200 day moving average price is $6.91. The stock’s market cap is $698.80 million.
Chegg (NYSE:CHGG) last issued its quarterly earnings data on Monday, November 7th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.01. Chegg had a negative return on equity of 12.67% and a negative net margin of 14.32%. The company had revenue of $71.30 million for the quarter, compared to analyst estimates of $67.89 million. During the same period last year, the company earned ($0.12) earnings per share. Chegg’s quarterly revenue was down 12.3% compared to the same quarter last year. 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 added to or reduced their stakes in the company. Great West Life Assurance Co. Can bought a new position in Chegg during the third quarter worth $101,000. Gilder Gagnon Howe & Co. LLC bought a new position in Chegg during the third quarter worth $105,000. BlackRock Inc. raised its position 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 during the period. Ameriprise Financial Inc. bought a new position in Chegg during the third quarter worth $128,000. Finally, BlackRock Group LTD raised its position in Chegg by 90.2% in the third quarter. BlackRock Group LTD now owns 22,653 shares of the company’s stock worth $160,000 after buying an additional 10,743 shares during the period. 69.27% of the stock is currently owned by 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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