Stocks of Chegg Inc. (NYSE:CHGG) traded higher last session on Wall Street, up 2.81% to $9.87.
According to the data, Chegg Inc. (NYSE:CHGG) has 15 analysts covering its stock. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $18.00 and a low of $10.00, we find $12.00. Given the previous closing price of $9.60, this indicates a potential upside of 25.0 percent. CHGG stock price is now 4.46% away from the 50-day moving average and -45.48% away from the 200-day moving average. The market capitalization of the company currently stands at $1.18B.
A total of 14 analysts have issued a hold rating and 1 have given it a buy rating. Brokers who have rated the stock have averaged $12.65 as their price target over the next twelve months.
With the price target reduced from $25 to $11, Jefferies Downgraded its rating from Buy to Hold for Chegg Inc. (NYSE: CHGG).
In other news, Schultz Nathan J., CHIEF OPERATING OFFICER sold 1,751 shares of the company’s stock on Jun 14. The stock was sold for $18,823 at an average price of $10.75. Upon completion of the transaction, the CHIEF OPERATING OFFICER now directly owns 437,078 shares in the company, valued at $4.31 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 05, CHIEF OPERATING OFFICER Schultz Nathan J. sold 818 shares of the business’s stock. A total of $7,816 was realized by selling the stock at an average price of $9.56. This leaves the insider owning 441,917 shares of the company worth $4.36 million. Insiders disposed of 273,755 shares of company stock worth roughly $2.7 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 CLEARLINE CAPITAL LP during the first quarter worth $12,510,000. GREENHOUSE FUNDS LLLP invested $7,355,000 in shares of CHGG during the first quarter. In the first quarter, GRANITE INVESTMENT PARTNERS, LLC acquired a new stake in Chegg Inc. valued at approximately $7,165,000. S SQUARED TECHNOLOGY, LLC acquired a new stake in CHGG for approximately $2,369,000. JUMP FINANCIAL, LLC purchased a new stake in CHGG valued at around $2,262,000 in the second quarter. In total, there are 416 active investors with 97.50% ownership of the company’s stock.
Monday’s opening bell rang with an opening price of $9.58 for Chegg Inc. (NYSE: CHGG). During the past 12 months, Chegg Inc. has had a low of $8.55 and a high of $30.05. As of last week, the company has a debt-to-equity ratio of 1.18, a current ratio of 4.60, and a quick ratio of 4.60. According to the stock market information, the enterprise value for the company is $1.84B, which is based on a 5.50 price-to-earnings ratio, a 0.27 price-to-earnings-growth ratio, and a beta of 1.13. The fifty day moving average price for CHGG is $9.45 and a two-hundred day moving average price translates $18.05 for the stock.
The latest earnings results from Chegg Inc. (NYSE: CHGG) was released for Mar, 2023. According to the Education & Training Services Company, earnings per share came in at $0.27, beating analysts’ expectations of $0.26 by 0.01. This compares to $0.04 EPS in the same period last year. The net profit margin was 35.00% and return on equity was 26.40% for CHGG. The company reported revenue of $187.6 million for the quarter, compared to $202.24 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -7.24 percent. For the current quarter, analysts expect CHGG to generate $176.51M 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 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. 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 services, which creates an integrated platform of connected academic support services; and 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. The company also provides skills-based learning platform that offers professional courses along with networking, interviewing, and career services; and rents and sells print textbooks and eTextbooks. Chegg, Inc. was incorporated in 2005 and is headquartered in Santa Clara, California.
