Chegg (NYSE:CHGG)‘s stock had its “outperform” rating reiterated by investment analysts at Barrington Research in a report released on Tuesday, Marketbeat.com reports. They presently have a $22.00 price objective on the technology company’s stock, up from their previous price objective of $19.00. Barrington Research’s price target would indicate a potential upside of 15.85% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on the stock. BMO Capital Markets restated a “buy” rating and issued a $20.00 price objective on shares of Chegg in a research report on Wednesday, January 17th. Zacks Investment Research upgraded shares of Chegg from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. JPMorgan Chase & Co. raised their price objective on shares of Chegg from $15.00 to $18.00 and gave the company an “overweight” rating in a research report on Wednesday, November 1st. First Analysis cut shares of Chegg from an “overweight” rating to an “equal weight” rating and set a $18.00 price objective for the company. in a research report on Tuesday, October 31st. Finally, BidaskClub lowered shares of Chegg from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $17.09.

Shares of Chegg (NYSE CHGG) opened at $18.99 on Tuesday. Chegg has a 1 year low of $7.81 and a 1 year high of $19.96.

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

In related news, insider Esther Lem sold 10,000 shares of Chegg stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $14.36, for a total transaction of $143,600.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Daniel Rosensweig sold 199,611 shares of Chegg stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 2,207,689 shares in the company, valued at approximately $35,323,024. The disclosure for this sale can be found here. Insiders sold a total of 869,323 shares of company stock worth $14,302,385 in the last ninety days. Insiders own 20.40% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in CHGG. Schwab Charles Investment Management Inc. boosted its stake in Chegg by 10.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 253,137 shares of the technology company’s stock worth $3,112,000 after acquiring an additional 23,678 shares during the last quarter. Alliancebernstein L.P. boosted its stake in Chegg by 13.5% during the 2nd quarter. Alliancebernstein L.P. now owns 103,700 shares of the technology company’s stock worth $1,274,000 after acquiring an additional 12,300 shares during the last quarter. Teachers Advisors LLC boosted its stake in Chegg by 12.5% during the 2nd quarter. Teachers Advisors LLC now owns 151,183 shares of the technology company’s stock worth $1,858,000 after acquiring an additional 16,757 shares during the last quarter. TIAA CREF Investment Management LLC boosted its stake in Chegg by 6.1% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 226,381 shares of the technology company’s stock worth $2,782,000 after acquiring an additional 13,011 shares during the last quarter. Finally, Nationwide Fund Advisors boosted its stake in Chegg by 2.2% during the 2nd quarter. Nationwide Fund Advisors now owns 47,047 shares of the technology company’s stock worth $578,000 after acquiring an additional 1,005 shares during the last quarter.

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About Chegg

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)

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