Chegg Inc (NYSE:CHGG) has earned a consensus recommendation of “Buy” from the thirteen analysts that are presently covering the company, MarketBeat.com reports. Four equities 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 12 month target price among analysts that have issued a report on the stock in the last year is $27.63.

Several analysts have commented on CHGG shares. Craig Hallum raised Chegg from a “hold” rating to a “buy” rating in a research note on Tuesday, October 2nd. Zacks Investment Research raised Chegg from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research note on Tuesday, January 1st. Barrington Research reaffirmed a “buy” rating and set a $32.00 price objective on shares of Chegg in a research note on Monday, October 22nd. Citigroup raised Chegg from a “neutral” rating to a “buy” rating in a research note on Thursday, October 25th. Finally, Jefferies Financial Group reduced their price objective on Chegg from $30.00 to $28.00 and set a “hold” rating for the company in a research note on Tuesday, October 30th.

Shares of Chegg stock traded down $0.16 on Friday, hitting $32.36. The stock had a trading volume of 812,197 shares, compared to its average volume of 1,310,650. Chegg has a 52-week low of $15.47 and a 52-week high of $33.25. The company has a debt-to-equity ratio of 0.72, a quick ratio of 6.56 and a current ratio of 6.56. The company has a market capitalization of $3.73 billion, a P/E ratio of -359.56, a PEG ratio of 7.34 and a beta of 1.21.

Chegg (NYSE:CHGG) last posted its earnings results on Monday, October 29th. The technology company reported $0.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.04. The business had revenue of $74.20 million during the quarter, compared to the consensus estimate of $69.02 million. Chegg had a positive return on equity of 1.75% and a negative net margin of 5.55%. 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 earned $0.01 EPS. As a group, analysts forecast that Chegg will post 0.09 earnings per share for the current year.

In other Chegg news, CEO Daniel Rosensweig sold 150,000 shares of the business’s stock in a transaction that occurred on Monday, November 12th. The stock was sold at an average price of $26.34, for a total transaction of $3,951,000.00. Following the transaction, the chief executive officer now owns 2,435,450 shares in the company, valued at approximately $64,149,753. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Andrew J. Brown sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, January 10th. The stock was sold at an average price of $32.75, for a total value of $3,275,000.00. Following the transaction, the insider now owns 593,356 shares in the company, valued at approximately $19,432,409. The disclosure for this sale can be found here. Insiders have sold a total of 501,232 shares of company stock worth $14,570,947 in the last quarter. 10.80% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Chegg by 12.8% during the 3rd quarter. Vanguard Group Inc. now owns 10,365,544 shares of the technology company’s stock worth $294,693,000 after purchasing an additional 1,174,038 shares during the period. Vanguard Group Inc grew its holdings in shares of Chegg by 12.8% in the 3rd quarter. Vanguard Group Inc now owns 10,365,544 shares of the technology company’s stock worth $294,693,000 after acquiring an additional 1,174,038 shares during the period. BlackRock Inc. grew its holdings in shares of Chegg by 6.6% in the 3rd quarter. BlackRock Inc. now owns 7,090,211 shares of the technology company’s stock worth $201,575,000 after acquiring an additional 441,891 shares during the period. FMR LLC grew its holdings in shares of Chegg by 19.3% in the 2nd quarter. FMR LLC now owns 6,321,121 shares of the technology company’s stock worth $175,664,000 after acquiring an additional 1,022,400 shares during the period. Finally, Baillie Gifford & Co. grew its holdings in shares of Chegg by 19.0% in the 3rd quarter. Baillie Gifford & Co. now owns 5,550,841 shares of the technology company’s stock worth $157,810,000 after acquiring an additional 887,402 shares during the period. Institutional investors own 99.55% of the company’s stock.

Chegg Company Profile

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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