In yesterday’s Wall Street session, Chegg Inc. (NYSE:CHGG) shares traded at $25.26, down -0.59% from the previous session.
16 analysts cover Chegg Inc. (NYSE:CHGG), according to research data. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $35.00 and a low of $18.00, we find $28.00. Given the previous closing price of $25.41, this indicates a potential upside of 10.19 percent. CHGG stock price is now -3.73% away from the 50-day moving average and 6.37% away from the 200-day moving average. The market capitalization of the company currently stands at $3.18B.
The stock has received a hold rating from 11 analysts and a buy rating from 4. Brokers who have rated the stock have averaged $27.25 as their price target over the next twelve months.
With the price target maintained at $28, Needham recently Upgraded its rating from Hold to Buy for Chegg Inc. (NYSE: CHGG). On September 08, 2022, Northland Capital Upgraded its previous ‘Market Perform’ rating to ‘Outperform’ on the stock keeping its target price maintained at $30, while ‘Goldman’ rates the stock as ‘Neutral’.
In other news, LEBLANC PAUL, Director sold 12,890 shares of the company’s stock on Nov 15. The stock was sold for $360,920 at an average price of $28.00. Upon completion of the transaction, the Director now directly owns 11,861 shares in the company, valued at $0.3 million. Insiders disposed of 212,997 shares of company stock worth roughly $5.38 million over the past 1 year. A total of 2.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in CHGG stock. A new stake in Chegg Inc. shares was purchased by EAGLE ASSET MANAGEMENT INC during the first quarter worth $37,698,000. CANDRIAM S.C.A. invested $26,383,000 in shares of CHGG during the first quarter. In the first quarter, PORTOLAN CAPITAL MANAGEMENT, LLC acquired a new stake in Chegg Inc. valued at approximately $5,219,000. ARCHON CAPITAL MANAGEMENT LLC acquired a new stake in CHGG for approximately $4,863,000. CALAMOS ADVISORS LLC purchased a new stake in CHGG valued at around $4,828,000 in the second quarter. In total, there are 393 active investors with 97.50% ownership of the company’s stock.
On Wednesday morning Chegg Inc. (NYSE: CHGG) stock kicked off with the opening price of $25.46. During the past 12 months, Chegg Inc. has had a low of $15.66 and a high of $37.64. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 7.20, and a quick ratio of 7.20. The fifty day moving average price for CHGG is $26.24 and a two-hundred day moving average price translates $23.75 for the stock.
The latest earnings results from Chegg Inc. (NYSE: CHGG) was released for Jun, 2022. According to the Education & Training Services Company, earnings per share came in at $0.36, beating analysts’ expectations of $0.33 by 0.03. This compares to $0.05 EPS in the same period last year. The net profit margin was 37.60% and return on equity was 30.60% for CHGG. The company reported revenue of $164.74 million for the quarter, compared to $171.94 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -4.19 percent. For the current quarter, analysts expect CHGG to generate $158.34M in revenue.
Chegg Inc.(CHGG) Company Profile
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. Its subscription services include Chegg Study, which helps students master challenging concepts on their own; Chegg Writing that provides students with a suite of tools, such as plagiarism detection scans, grammar and writing fluency checking, expert personalized writing feedback, and premium citation generation; Chegg Math, a step-by-step math problem solver and calculator that helps students to solve problems; Chegg Study Pack, a bundle of various Chegg Services product offerings, including Chegg Study, Chegg Writing, and Chegg Math Solver services, which creates an integrated platform of connected academic support services; Busuu, an online language learning solution that offers a comprehensive solution through a combination of self-paced lessons, live classes with expert tutors, and the ability to learn and practice with members of the Busuu language learning community; and Thinkful, a skills-based learning platform that offers professional courses along with networking, interviewing, and career services. The company also provides other services, such as Chegg Life, Chegg Prep, and Chegg Internships; provides personal and professional development skills training; and rents and sells print textbooks and eTextbooks. Chegg, Inc. was incorporated in 2005 and is headquartered in Santa Clara, California.