Chegg (NYSE:CHGG) Lifted to “Overweight” at KeyCorp

Chegg (NYSE:CHGGGet Rating) was upgraded by KeyCorp from a “sector weight” rating to an “overweight” rating in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. The firm presently has a $29.00 target price on the technology company’s stock. KeyCorp’s price target suggests a potential upside of 41.05% from the company’s current price.

Several other research analysts have also recently issued reports on CHGG. Barrington Research raised their price objective on Chegg from $25.00 to $30.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 2nd. BMO Capital Markets raised their price objective on Chegg from $23.00 to $26.00 and gave the stock a “market perform” rating in a research note on Thursday, November 3rd. Morgan Stanley raised their price objective on Chegg from $24.00 to $31.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 15th. Piper Sandler lifted their price target on Chegg from $23.00 to $24.00 and gave the company a “neutral” rating in a research report on Wednesday, November 2nd. Finally, Northland Securities lifted their price target on Chegg from $32.00 to $35.00 in a research report on Friday, December 2nd. Eleven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Chegg has a consensus rating of “Hold” and an average price target of $26.18.

Chegg Trading Down 0.1 %

Chegg stock opened at $20.56 on Thursday. Chegg has a one year low of $15.66 and a one year high of $37.64. The stock has a market cap of $2.58 billion, a PE ratio of 13.89, a price-to-earnings-growth ratio of 3.77 and a beta of 1.11. The company has a debt-to-equity ratio of 1.13, a quick ratio of 7.19 and a current ratio of 7.19. The stock has a 50-day moving average of $26.65 and a two-hundred day moving average of $23.24.

Chegg (NYSE:CHGGGet Rating) last announced its quarterly earnings data on Tuesday, November 1st. The technology company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.04. Chegg had a return on equity of 7.19% and a net margin of 37.58%. The firm had revenue of $164.74 million during the quarter, compared to analysts’ expectations of $158.20 million. On average, research analysts anticipate that Chegg will post 0.41 EPS for the current fiscal year.

Insider Buying and Selling at Chegg

In other Chegg news, Director Paul Leblanc sold 12,890 shares of the firm’s stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $28.00, for a total value of $360,920.00. Following the sale, the director now directly owns 11,861 shares of the company’s stock, valued at $332,108. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Chegg news, COO Nathan J. Schultz sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $25.35, for a total value of $633,750.00. Following the sale, the chief operating officer now directly owns 237,500 shares of the company’s stock, valued at $6,020,625. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Paul Leblanc sold 12,890 shares of the firm’s stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $28.00, for a total value of $360,920.00. Following the completion of the sale, the director now directly owns 11,861 shares in the company, valued at $332,108. The disclosure for this sale can be found here. 2.25% of the stock is owned by corporate insiders.

Institutional Trading of Chegg

Several institutional investors have recently bought and sold shares of the business. AlphaCrest Capital Management LLC raised its stake in Chegg by 975.1% in the 2nd quarter. AlphaCrest Capital Management LLC now owns 135,125 shares of the technology company’s stock valued at $2,538,000 after purchasing an additional 122,556 shares during the last quarter. Renaissance Technologies LLC boosted its position in Chegg by 1,062.9% during the second quarter. Renaissance Technologies LLC now owns 2,457,200 shares of the technology company’s stock worth $46,146,000 after acquiring an additional 2,245,900 shares during the last quarter. Echo Street Capital Management LLC acquired a new position in Chegg during the second quarter worth about $250,000. Bank Julius Baer & Co. Ltd Zurich grew its stake in Chegg by 42.5% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,810 shares of the technology company’s stock valued at $34,000 after acquiring an additional 540 shares in the last quarter. Finally, Sands Capital Management LLC increased its holdings in shares of Chegg by 10.7% in the second quarter. Sands Capital Management LLC now owns 4,762,248 shares of the technology company’s stock valued at $89,435,000 after purchasing an additional 460,363 shares during the last quarter. 92.88% of the stock is owned by institutional investors and hedge funds.

Chegg Company Profile

(Get Rating)

Chegg, Inc operates a learning platform for students. It intends to empower students to take control of their education and help the students study, college admissions exams, accomplish their goals, get grades and test scores. The firm offers required and non-required scholastic materials including textbooks in any format, access to online homework help and textbook solutions, course organization and scheduling, college and university matching tools and scholarship connections.

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Analyst Recommendations for Chegg (NYSE:CHGG)

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