Chegg, Inc. (NYSE:CHGG) Downgraded by Lake Street Capital to “Hold”

Chegg, Inc. (NYSE:CHGG) was downgraded by Lake Street Capital from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, July 26th, MarketBeat Ratings reports. They currently have a $14.00 target price on the technology company’s stock, up from their previous target price of $12.00. Lake Street Capital’s price target points to a potential downside of 6.85% from the company’s current price.

Other research analysts have also issued research reports about the company. Jefferies Group LLC lifted their price target on Chegg from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, May 2nd. Craig Hallum upgraded Chegg from a “hold” rating to a “buy” rating in a research report on Tuesday, April 4th. Zacks Investment Research upgraded Chegg from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research report on Friday, May 5th. Barrington Research reiterated an “outperform” rating on shares of Chegg in a research report on Friday, June 23rd. Finally, First Analysis lifted their price target on Chegg from $12.00 to $14.00 and gave the stock an “overweight” rating in a research report on Monday, May 22nd. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $13.32.

Chegg (NYSE:CHGG) traded down 1.25% during trading on Wednesday, reaching $15.03. The company had a trading volume of 767,272 shares. The firm’s market capitalization is $1.44 billion. Chegg has a one year low of $6.51 and a one year high of $15.95. The firm’s 50-day moving average price is $13.87 and its 200 day moving average price is $10.63.

Chegg (NYSE:CHGG) last issued its earnings results on Tuesday, July 25th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by $0.08. Chegg had a negative return on equity of 8.10% and a negative net margin of 11.83%. The firm had revenue of $56.30 million during the quarter, compared to the consensus estimate of $53.33 million. During the same period last year, the firm posted $0.05 earnings per share. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. Equities analysts forecast that Chegg will post $0.24 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “Chegg, Inc. (NYSE:CHGG) Downgraded by Lake Street Capital to “Hold”” was originally published by BBNS and is the property of of BBNS. If you are viewing this piece on another publication, it was copied illegally and republished in violation of US and international trademark & copyright legislation. The original version of this piece can be read at https://baseballnewssource.com/markets/chegg-inc-nysechgg-lowered-to-hold-at-lake-street-capital-updated-updated/1308120.html.

In other news, insider Charles Geiger sold 50,000 shares of the company’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $13.73, for a total transaction of $686,500.00. Following the transaction, the insider now directly owns 561,500 shares of the company’s stock, valued at $7,709,395. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Andrew J. Brown sold 100,000 shares of the company’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $12.50, for a total value of $1,250,000.00. Following the transaction, the insider now directly owns 678,760 shares in the company, valued at $8,484,500. The disclosure for this sale can be found here. Insiders sold 522,244 shares of company stock valued at $6,828,478 in the last three months. 20.40% of the stock is currently owned by insiders.

Several large investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio bought a new stake in shares of Chegg during the second quarter worth $1,457,000. Castleark Management LLC bought a new stake in shares of Chegg during the second quarter worth $7,407,000. The Manufacturers Life Insurance Company raised its stake in shares of Chegg by 3.3% in the second quarter. The Manufacturers Life Insurance Company now owns 65,306 shares of the technology company’s stock worth $802,000 after buying an additional 2,074 shares during the period. State Street Corp raised its stake in shares of Chegg by 10.5% in the second quarter. State Street Corp now owns 1,471,490 shares of the technology company’s stock worth $18,086,000 after buying an additional 139,563 shares during the period. Finally, Fred Alger Management Inc. bought a new stake in shares of Chegg during the second quarter worth $31,014,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Chegg Company Profile

Chegg, Inc is a student-first connected learning platform. The Company helps students study for college admission exams, find the colleges, get grades and test scores while in school, and find internships that allow them to gain skills to help them enter the workforce after college. The Company matches domestic and international students with colleges, universities and other academic institutions (collectively referred to as colleges) in the United States.

Analyst Recommendations for Chegg (NYSE:CHGG)

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

 


Latest News

Los Angeles Dodgers Move 50 Games Over .500
Los Angeles Dodgers Move 50 Games Over .500
Miami’s Giancarlo Stanton Sets Marlins Home Run Record
Miami’s Giancarlo Stanton Sets Marlins Home Run Record
Bryce Harper Latest Star to Suffer Injury
Bryce Harper Latest Star to Suffer Injury
Chicago Cubs Must Survive Without Willson Contreras
Chicago Cubs Must Survive Without Willson Contreras
Cleveland Indians Acquire Jay Bruce From New York Mets
Cleveland Indians Acquire Jay Bruce From New York Mets
Injury to CC Sabathia Adds to Yankees’ Concerns
Injury to CC Sabathia Adds to Yankees’ Concerns


Leave a Reply

 
© 2006-2017 BBNS.