Chegg (NYSE:CHGG) had its target price increased by JPMorgan Chase & Co. from $18.00 to $20.00 in a report released on Tuesday morning. JPMorgan Chase & Co. currently has an overweight rating on the technology company’s stock.

Other research analysts have also recently issued research reports about the company. BMO Capital Markets reaffirmed a buy rating and set a $20.00 target price on shares of Chegg in a research report on Wednesday, January 17th. Northland Securities reaffirmed a buy rating and set a $20.00 target price on shares of Chegg in a research report on Tuesday, January 9th. Citigroup started coverage on Chegg in a research report on Monday, November 20th. They set a buy rating and a $19.00 target price on the stock. BidaskClub raised Chegg from a hold rating to a buy rating in a research report on Tuesday, October 31st. Finally, First Analysis cut Chegg from an overweight rating to an equal weight rating and set a $18.00 target price on the stock. in a research report on Tuesday, October 31st. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $17.09.

Shares of Chegg (NYSE:CHGG) opened at $19.15 on Tuesday. Chegg has a one year low of $7.21 and a one year high of $19.96.

Chegg (NYSE:CHGG) last announced its quarterly earnings data on Monday, February 12th. The technology company reported $0.15 EPS for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.02. Chegg had a negative return on equity of 2.64% and a negative net margin of 7.95%. The firm had revenue of $73.51 million during the quarter, compared to analysts’ expectations of $70.61 million. During the same quarter last year, the firm posted $0.10 earnings per share. The company’s revenue for the quarter was up 16.5% compared to the same quarter last year. research analysts forecast that Chegg will post 0.1 EPS for the current fiscal year.

In related news, CEO Daniel Rosensweig sold 199,611 shares of Chegg stock in a transaction on Monday, December 18th. The stock was sold at an average price of $16.00, for a total transaction of $3,193,776.00. Following the sale, the chief executive officer now directly owns 2,207,689 shares in the company, valued at $35,323,024. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Esther Lem sold 10,000 shares of Chegg stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $14.36, for a total value of $143,600.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 659,323 shares of company stock worth $10,527,385. 20.40% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of the stock. Gilder Gagnon Howe & Co. LLC lifted its holdings in Chegg by 4.2% during the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 7,337,758 shares of the technology company’s stock worth $119,752,000 after acquiring an additional 294,847 shares during the period. Sylebra HK Co Ltd lifted its holdings in Chegg by 3.8% during the third quarter. Sylebra HK Co Ltd now owns 6,956,896 shares of the technology company’s stock worth $103,240,000 after acquiring an additional 257,847 shares during the period. BlackRock Inc. lifted its holdings in Chegg by 1.3% during the fourth quarter. BlackRock Inc. now owns 5,566,601 shares of the technology company’s stock worth $90,847,000 after acquiring an additional 71,515 shares during the period. Alliancebernstein L.P. lifted its holdings in Chegg by 14.0% during the fourth quarter. Alliancebernstein L.P. now owns 3,331,046 shares of the technology company’s stock worth $54,363,000 after acquiring an additional 409,956 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in Chegg by 22.7% during the second quarter. Vanguard Group Inc. now owns 3,232,947 shares of the technology company’s stock worth $39,733,000 after acquiring an additional 597,063 shares during the period.

COPYRIGHT VIOLATION WARNING: “JPMorgan Chase & Co. Boosts Chegg (CHGG) Price Target to $20.00” was first reported by TheOlympiaReport and is owned by of TheOlympiaReport. If you are reading this piece on another website, it was illegally stolen and reposted in violation of United States & international copyright & trademark legislation. The original version of this piece can be read at https://theolympiareport.com/2018/02/14/jpmorgan-chase-co-boosts-chegg-chgg-price-target-to-20-00.html.

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 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chegg and related companies with MarketBeat.com's FREE daily email newsletter.