Chegg (CHGG) Getting Somewhat Favorable News Coverage, Report Finds
Media stories about Chegg (NYSE:CHGG) have trended somewhat positive this week, according to Accern Sentiment Analysis. The research group identifies negative and positive press coverage by monitoring more than 20 million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Chegg earned a coverage optimism score of 0.12 on Accern’s scale. Accern also gave press coverage about the technology company an impact score of 45.7162082739644 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.
These are some of the news stories that may have impacted Accern Sentiment’s scoring:
- Chegg, Inc. (CHGG) Earns Buy Rating from Northland Securities (americanbankingnews.com)
- Chegg, Kaplan Test Prep Team Up to Offer Test Prep Services (finance.yahoo.com)
- Critical Levels To Breach: Atossa Genetics Inc. (ATOS), Chegg, Inc. (CHGG) – AllStockNews (allstocknews.com)
- Kaplan Test Prep : and Chegg Partner to Bring Affordable Prep Options to Millions of Aspiring College and Grad School Students (4-traders.com)
- Kaplan Test Prep and Chegg Partner to Bring Affordable Prep Options to Millions of Aspiring College and Grad School Students (finance.yahoo.com)
Several brokerages have recently issued reports on CHGG. BMO Capital Markets reissued an “outperform” rating and set a $18.00 price target (up previously from $16.00) on shares of Chegg in a report on Wednesday, July 26th. Northland Securities reissued a “buy” rating and set a $16.00 price target on shares of Chegg in a report on Friday, July 28th. Lake Street Capital downgraded shares of Chegg from a “buy” rating to a “hold” rating and upped their price objective for the stock from $12.00 to $14.00 in a report on Wednesday, July 26th. J P Morgan Chase & Co reaffirmed an “overweight” rating and issued a $15.00 price objective (up previously from $12.00) on shares of Chegg in a report on Wednesday, July 26th. Finally, Zacks Investment Research raised shares of Chegg from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a report on Friday, July 28th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Chegg currently has a consensus rating of “Buy” and a consensus target price of $13.32.
Chegg (CHGG) traded down 0.28% during midday trading on Wednesday, reaching $14.01. 454,951 shares of the company traded hands. The company has a 50-day moving average price of $14.27 and a 200-day moving average price of $10.99. Chegg has a 12-month low of $6.51 and a 12-month high of $15.95. The company’s market cap is $1.35 billion.
Chegg (NYSE:CHGG) last released its quarterly earnings results on Tuesday, July 25th. The technology company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by $0.08. Chegg had a negative net margin of 11.83% and a negative return on equity of 8.10%. The company had revenue of $56.30 million during the quarter, compared to the consensus estimate of $53.33 million. During the same quarter last year, the firm posted $0.05 EPS. The company’s quarterly revenue was up 6.2% on a year-over-year basis. On average, analysts predict that Chegg will post $0.24 earnings per share for the current fiscal year.
In other Chegg news, insider Charles Geiger sold 25,000 shares of the company’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $11.66, for a total value of $291,500.00. Following the sale, the insider now owns 536,500 shares in the company, valued at approximately $6,255,590. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Andrew J. Brown sold 100,000 shares of the company’s stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $14.00, for a total value of $1,400,000.00. Following the completion of the sale, the insider now owns 678,760 shares in the company, valued at approximately $9,502,640. The disclosure for this sale can be found here. Insiders sold a total of 556,968 shares of company stock worth $7,409,166 in the last quarter. Corporate insiders own 20.40% 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. The Company 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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