Somewhat Favorable News Coverage Somewhat Unlikely to Affect Chegg (CHGG) Stock Price
News articles about Chegg (NYSE:CHGG) have trended somewhat positive this week, Accern Sentiment reports. The research group scores the sentiment of news coverage by monitoring more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Chegg earned a media sentiment score of 0.04 on Accern’s scale. Accern also gave headlines about the technology company an impact score of 46.023308359286 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
Chegg (NYSE:CHGG) traded down 2.347% during midday trading on Tuesday, reaching $15.605. 706,638 shares of the company’s stock traded hands. The firm’s 50-day moving average is $14.72 and its 200-day moving average is $12.70. Chegg has a 1-year low of $6.51 and a 1-year high of $16.23. The company’s market capitalization is $1.50 billion.
Chegg (NYSE:CHGG) last announced its earnings results on Tuesday, July 25th. The technology company reported ($0.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.08). The company had revenue of $56.30 million for the quarter, compared to analysts’ expectations of $53.33 million. Chegg had a negative return on equity of 8.10% and a negative net margin of 11.83%. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period last year, the business earned $0.05 EPS. Analysts forecast that Chegg will post $0.23 earnings per share for the current year.
A number of research firms recently commented on CHGG. Zacks Investment Research cut shares of Chegg from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. Jefferies Group LLC reaffirmed a “buy” rating and set a $17.00 price target on shares of Chegg in a research note on Thursday, September 7th. J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $15.00 price target (up from $12.00) on shares of Chegg in a research note on Wednesday, July 26th. BidaskClub cut shares of Chegg from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 2nd. Finally, Northland Securities reaffirmed a “buy” rating and set a $16.00 price target on shares of Chegg in a research note on Tuesday, August 29th. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $13.68.
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In other Chegg news, General Counsel Dave Jr. Borders sold 13,256 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $15.06, for a total transaction of $199,635.36. Following the completion of the transaction, the general counsel now owns 443,810 shares of the company’s stock, valued at $6,683,778.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Charles Geiger sold 81,968 shares of the stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $13.55, for a total transaction of $1,110,666.40. Following the transaction, the insider now directly owns 568,468 shares of the company’s stock, valued at approximately $7,702,741.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 322,494 shares of company stock valued at $4,626,025. 20.40% of the stock is currently owned by insiders.
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.
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