J P Morgan Chase & Co reaffirmed their overweight rating on shares of Chegg, Inc. (NYSE:CHGG) in a report released on Wednesday. They currently have a $15.00 price target on the technology company’s stock, up from their prior price target of $12.00.

Several other research analysts have also weighed in on the stock. Craig Hallum upgraded shares of Chegg from a hold rating to a buy rating in a research report on Tuesday, April 4th. Barrington Research restated an outperform rating on shares of Chegg in a research report on Friday, June 23rd. Northland Securities started coverage on shares of Chegg in a research report on Tuesday, April 11th. They set an outperform rating and a $11.50 target price on the stock. Lake Street Capital restated a buy rating and set a $12.00 target price (up from $9.00) on shares of Chegg in a research report on Tuesday, May 2nd. Finally, First Analysis upped their target price on shares of Chegg from $12.00 to $14.00 and gave the stock an overweight rating in a research report on Monday, May 22nd. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company currently has an average rating of Buy and an average price target of $12.79.

Shares of Chegg (CHGG) opened at 14.14 on Wednesday. Chegg has a 52 week low of $5.40 and a 52 week high of $15.37. The firm’s 50-day moving average price is $12.89 and its 200 day moving average price is $9.94. The company’s market capitalization is $1.35 billion.

Chegg (NYSE:CHGG) last issued its quarterly earnings results on Tuesday, July 25th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by $0.08. Chegg had a negative return on equity of 8.14% and a negative net margin of 11.83%. The firm had revenue of $56.30 million for the quarter, compared to analyst estimates of $53.33 million. During the same quarter last year, the firm earned $0.05 earnings per share. The company’s revenue was up 6.2% compared to the same quarter last year. Equities analysts predict that Chegg will post $0.24 EPS for the current year.

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In other news, insider Nathan J. Schultz sold 45,828 shares of the stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $9.10, for a total value of $417,034.80. Following the sale, the insider now directly owns 643,157 shares in the company, valued at $5,852,728.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nathan J. Schultz sold 15,276 shares of the stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $12.00, for a total transaction of $183,312.00. The disclosure for this sale can be found here. Insiders sold 562,484 shares of company stock worth $6,954,404 over the last quarter. Company insiders own 20.40% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. US Bancorp DE raised its stake in Chegg by 4.3% in the first quarter. US Bancorp DE now owns 11,868 shares of the technology company’s stock valued at $100,000 after buying an additional 488 shares in the last quarter. Principal Financial Group Inc. raised its stake in Chegg by 7.2% in the first quarter. Principal Financial Group Inc. now owns 13,743 shares of the technology company’s stock valued at $116,000 after buying an additional 926 shares in the last quarter. Parkwood LLC raised its stake in Chegg by 8.1% in the second quarter. Parkwood LLC now owns 14,141 shares of the technology company’s stock valued at $174,000 after buying an additional 1,064 shares in the last quarter. NBW Capital LLC raised its stake in Chegg by 1.1% in the first quarter. NBW Capital LLC now owns 275,906 shares of the technology company’s stock valued at $2,329,000 after buying an additional 2,963 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its stake in Chegg by 6.0% in the first quarter. Metropolitan Life Insurance Co. NY now owns 54,392 shares of the technology company’s stock valued at $459,000 after buying an additional 3,080 shares in the last quarter. Institutional investors and hedge funds own 77.35% of the company’s stock.

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. The Company matches domestic and international students with colleges, universities and other academic institutions (collectively referred to as colleges) in the United States.

Analyst Recommendations for Chegg (NYSE:CHGG)

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