Chegg (NYSE:CHGG) had its price objective lifted by analysts at Lake Street Capital from $15.00 to $16.00 in a report released on Tuesday, MarketBeat.com reports. The firm presently has a “hold” rating on the technology company’s stock. Lake Street Capital’s price objective would indicate a potential downside of 15.75% from the stock’s previous close.

Several other analysts also recently weighed in on the stock. BMO Capital Markets reiterated a “buy” rating and issued a $20.00 price objective on shares of Chegg in a research report on Wednesday, January 17th. Barrington Research reiterated an “outperform” rating and issued a $19.00 price objective (up from $17.00) on shares of Chegg in a research report on Tuesday, October 31st. 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. boosted their price target on shares of Chegg from $15.00 to $18.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 1st. Finally, First Analysis downgraded shares of Chegg from an “overweight” rating to an “equal weight” rating and set a $18.00 price target on the stock. in a research report on Tuesday, October 31st. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $17.09.

Shares of Chegg (NYSE:CHGG) opened at $18.99 on Tuesday. The firm has a market cap of $2,060.00, a PE ratio of -90.43, a P/E/G ratio of 6.42 and a beta of 1.74. Chegg has a 52-week low of $7.81 and a 52-week high of $19.96.

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

In other Chegg news, insider Michael A. Osier sold 200,000 shares of the business’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $15.25, for a total transaction of $3,050,000.00. Following the sale, the insider now directly owns 653,061 shares in the company, valued at approximately $9,959,180.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Esther Lem sold 10,000 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $17.50, for a total transaction of $175,000.00. Following the sale, the insider now owns 455,120 shares in the company, valued at $7,964,600. The disclosure for this sale can be found here. Insiders have sold a total of 869,323 shares of company stock worth $14,302,385 over the last 90 days. 20.40% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Amalgamated Bank grew its stake in shares of Chegg by 9.0% in the 2nd quarter. Amalgamated Bank now owns 10,916 shares of the technology company’s stock worth $134,000 after purchasing an additional 905 shares during the last quarter. Nationwide Fund Advisors grew its stake in shares of Chegg by 2.2% in the 2nd quarter. Nationwide Fund Advisors now owns 47,047 shares of the technology company’s stock worth $578,000 after purchasing an additional 1,005 shares during the last quarter. Parametric Portfolio Associates LLC grew its stake in shares of Chegg by 4.2% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 45,058 shares of the technology company’s stock worth $554,000 after purchasing an additional 1,823 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Chegg by 3.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 65,306 shares of the technology company’s stock worth $802,000 after purchasing an additional 2,074 shares during the last quarter. Finally, Voya Investment Management LLC grew its stake in shares of Chegg by 9.2% in the 2nd quarter. Voya Investment Management LLC now owns 39,586 shares of the technology company’s stock worth $487,000 after purchasing an additional 3,331 shares during the last quarter.

ILLEGAL ACTIVITY WARNING: “Chegg (CHGG) Price Target Raised to $16.00” was originally reported by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are accessing this article on another site, it was illegally stolen and republished in violation of United States and international copyright & trademark law. The legal version of this article can be read at https://theolympiareport.com/2018/02/15/chegg-chgg-price-target-raised-to-16-00.html.

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)

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.