Chegg (NYSE:CHGG – Get Free Report) had its price objective lowered by investment analysts at BMO Capital Markets from $11.00 to $10.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a “market perform” rating on the technology company’s stock. BMO Capital Markets’ price objective indicates a potential upside of 16.14% from the company’s current price.
Several other research firms have also commented on CHGG. Piper Sandler Companies lowered shares of Chegg to an “underweight” rating and lowered their price target for the stock from $9.00 to $8.50 in a research report on Tuesday. Piper Sandler lowered shares of Chegg from a “neutral” rating to an “underweight” rating and lowered their price target for the stock from $9.00 to $8.50 in a research report on Tuesday. StockNews.com upgraded shares of Chegg from a “hold” rating to a “buy” rating in a research report on Tuesday, January 23rd. The Goldman Sachs Group lowered their price target on shares of Chegg from $8.00 to $7.00 and set a “sell” rating for the company in a research report on Tuesday. Finally, JPMorgan Chase & Co. lowered their price target on shares of Chegg from $12.00 to $10.00 and set a “neutral” rating for the company in a research report on Tuesday, October 31st. Four research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $10.22.
Chegg Stock Down 1.4 %
Chegg (NYSE:CHGG – Get Free Report) last released its earnings results on Monday, February 5th. The technology company reported $0.36 earnings per share for the quarter, meeting the consensus estimate of $0.36. Chegg had a net margin of 2.54% and a return on equity of 1.24%. The firm had revenue of $187.99 million during the quarter, compared to analyst estimates of $185.94 million. During the same quarter in the previous year, the firm earned $0.16 earnings per share. The firm’s revenue for the quarter was down 8.4% compared to the same quarter last year. Research analysts predict that Chegg will post 0.25 EPS for the current year.
Insider Buying and Selling at Chegg
In other Chegg news, CFO Andrew J. Brown sold 16,921 shares of the business’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $10.02, for a total transaction of $169,548.42. Following the sale, the chief financial officer now owns 91,922 shares in the company, valued at approximately $921,058.44. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last three months, insiders sold 18,901 shares of company stock valued at $189,984. 2.60% of the stock is owned by insiders.
Institutional Trading of Chegg
Several institutional investors and hedge funds have recently bought and sold shares of CHGG. Point72 Asset Management L.P. acquired a new stake in Chegg during the 2nd quarter worth about $25,000. AM Squared Ltd acquired a new stake in Chegg during the 1st quarter worth about $47,000. Headlands Technologies LLC acquired a new stake in Chegg during the 4th quarter worth about $48,000. Tower Research Capital LLC TRC raised its holdings in Chegg by 58.4% during the 3rd quarter. Tower Research Capital LLC TRC now owns 5,539 shares of the technology company’s stock worth $49,000 after buying an additional 2,043 shares during the period. Finally, Captrust Financial Advisors raised its holdings in Chegg by 79.6% during the 1st quarter. Captrust Financial Advisors now owns 2,012 shares of the technology company’s stock worth $73,000 after buying an additional 892 shares during the period. Institutional investors and hedge funds own 97.15% of the company’s stock.
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 learner with their academic course materials. The company offers Chegg Services, which include subscription services; and skills and other, including skills, advertising services, print textbooks, and eTextbooks.
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