Chegg Inc (NYSE:CHGG) has earned a consensus recommendation of “Buy” from the thirteen brokerages that are presently covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $27.63.

A number of equities research analysts have recently weighed in on CHGG shares. Craig Hallum upgraded shares of Chegg from a “hold” rating to a “buy” rating in a report on Tuesday, October 2nd. Barrington Research restated a “buy” rating and issued a $32.00 price objective on shares of Chegg in a report on Monday, October 22nd. Zacks Investment Research lowered shares of Chegg from a “buy” rating to a “hold” rating in a report on Monday, November 5th. Citigroup upgraded shares of Chegg from a “neutral” rating to a “buy” rating in a report on Thursday, October 25th. Finally, Lake Street Capital boosted their price objective on shares of Chegg from $20.00 to $26.00 and gave the stock a “hold” rating in a report on Tuesday, July 31st.

Shares of Chegg stock opened at $26.34 on Friday. The company has a market cap of $3.03 billion, a price-to-earnings ratio of -292.67, a P/E/G ratio of 10.21 and a beta of 1.43. The company has a debt-to-equity ratio of 0.72, a current ratio of 6.56 and a quick ratio of 6.56. Chegg has a 1 year low of $13.83 and a 1 year high of $32.82.

Chegg (NYSE:CHGG) last announced its quarterly earnings data on Monday, October 29th. The technology company reported $0.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.04. The firm had revenue of $74.20 million during the quarter, compared to analyst estimates of $69.02 million. Chegg had a negative net margin of 5.55% and a positive return on equity of 1.75%. The business’s quarterly revenue was up 18.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.01 EPS. Equities research analysts predict that Chegg will post 0.09 earnings per share for the current fiscal year.

In related news, CEO Daniel Rosensweig sold 150,000 shares of Chegg stock in a transaction on Friday, October 12th. The shares were sold at an average price of $25.43, for a total value of $3,814,500.00. Following the transaction, the chief executive officer now directly owns 2,378,305 shares of the company’s stock, valued at $60,480,296.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jenny Brandemuehl sold 75,000 shares of Chegg stock in a transaction on Monday, October 1st. The stock was sold at an average price of $28.50, for a total transaction of $2,137,500.00. Following the completion of the transaction, the insider now directly owns 516,962 shares in the company, valued at $14,733,417. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 540,000 shares of company stock worth $14,988,150. 10.80% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of CHGG. PNC Financial Services Group Inc. increased its position in Chegg by 213.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,678 shares of the technology company’s stock valued at $162,000 after purchasing an additional 3,865 shares during the period. Bank of Montreal Can increased its position in Chegg by 612.4% during the 3rd quarter. Bank of Montreal Can now owns 5,920 shares of the technology company’s stock valued at $168,000 after purchasing an additional 5,089 shares during the period. NewSquare Capital LLC purchased a new position in Chegg during the 2nd quarter valued at $178,000. BB&T Securities LLC purchased a new position in Chegg during the 2nd quarter valued at $209,000. Finally, National Asset Management Inc. purchased a new position in Chegg during the 3rd quarter valued at $223,000.

About Chegg

Chegg, Inc operates direct-to-student learning platform that supports students on their journey from high school to college and into their career with tools designed to help them pass their test, pass their class, and save money on required materials. The company offers Chegg Services, which include digital products and services; and required materials that comprise its print textbooks and eTextbooks.

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Analyst Recommendations for Chegg (NYSE:CHGG)

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