Chegg (NYSE:CHGG) Shares Up 11.7%

Shares of Chegg, Inc. (NYSE:CHGGGet Rating) rose 11.7% during mid-day trading on Friday . The stock traded as high as $19.14 and last traded at $19.01. Approximately 46,833 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 2,278,106 shares. The stock had previously closed at $17.02.

Several research firms have recently weighed in on CHGG. StockNews.com initiated coverage on Chegg in a report on Thursday, March 31st. They set a “hold” rating on the stock. Piper Sandler lowered shares of Chegg from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $44.00 to $21.00 in a research report on Tuesday, May 3rd. Bank of America cut shares of Chegg from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 3rd. KeyCorp downgraded Chegg from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, April 12th. Finally, William Blair cut Chegg from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 3rd. Twelve equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Chegg has an average rating of “Hold” and an average price target of $40.20.

The stock has a market cap of $2.40 billion, a P/E ratio of 42.14, a price-to-earnings-growth ratio of 4.76 and a beta of 1.13. The stock’s 50-day moving average is $22.45 and its two-hundred day moving average is $27.48. The company has a debt-to-equity ratio of 2.08, a current ratio of 8.02 and a quick ratio of 8.02.

Chegg (NYSE:CHGGGet Rating) last announced its quarterly earnings results on Monday, May 2nd. The technology company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.07 by $0.03. Chegg had a net margin of 8.90% and a return on equity of 8.71%. The business had revenue of $202.24 million for the quarter, compared to analysts’ expectations of $202.98 million. During the same quarter in the previous year, the company earned $0.13 EPS. On average, analysts anticipate that Chegg, Inc. will post 0.23 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of CHGG. KRS Capital Management LLC bought a new position in shares of Chegg in the 4th quarter valued at about $45,000. Quadrant Capital Group LLC boosted its holdings in shares of Chegg by 2,703.8% in the fourth quarter. Quadrant Capital Group LLC now owns 1,486 shares of the technology company’s stock valued at $46,000 after purchasing an additional 1,433 shares during the period. Meeder Asset Management Inc. bought a new position in Chegg in the first quarter worth approximately $48,000. Captrust Financial Advisors raised its position in Chegg by 79.6% during the 1st quarter. Captrust Financial Advisors now owns 2,012 shares of the technology company’s stock valued at $73,000 after purchasing an additional 892 shares in the last quarter. Finally, Signaturefd LLC grew its position in shares of Chegg by 501.9% during the 4th quarter. Signaturefd LLC now owns 3,202 shares of the technology company’s stock worth $98,000 after buying an additional 2,670 shares in the last quarter.

About Chegg (NYSE:CHGG)

Chegg, Inc operates direct-to-student learning platform that supports students starting with their academic journey and extending into their careers with products and services to support and help them better understand their academic course materials. The company offers Chegg Services, which include subscription services; and required materials that comprise its print textbooks and eTextbooks.

Further Reading

Want More Great Investing Ideas?

Receive News & Ratings for Chegg Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chegg and related companies with MarketBeat.com's FREE daily email newsletter.