Barrington Keeps a Buy Rating on Chegg Inc (CHGG)


In a report released today, Alexander Paris from Barrington maintained a Buy rating on Chegg Inc (CHGG), with a price target of $32. The company’s shares closed on Friday at $34.64, close to its 52-week high of $34.79.

Paris commented:

“We will re-evaluate our price target once the company reports its fourth quarter results. Company Description Chegg, Inc. operates learning platform for students. It provides student learning platform, empowering students to take control of their education and help the students study, college admissions exams, accomplish their goals, get grades and test scores. The firm offers required and non- required scholastic materials including textbooks in any format, access to online homework help and textbook solutions, course organization and scheduling, as well as college and university matching tools and scholarship connections. The company was founded by Osman Rashid and Aayush Phumbhra on July 29, 2005 and is headquartered in Santa Clara, CA..”

According to TipRanks.com, Paris is a 4-star analyst with an average return of 5.4% and a 48.0% success rate. Paris covers the Services sector, focusing on stocks such as Adtalem Global Education Inc, American Public Education, and Strategic Education Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Chegg Inc with a $30 average price target.

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Based on Chegg Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $13.71 million. In comparison, last year the company had a net profit of $3.66 million.

Based on the recent corporate insider activity of 96 insiders, corporate insider sentiment is negative on the stock. Most recently, in November 2018, John York, a Director at CHGG sold 12,500 shares for a total of $312,875.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Chegg, Inc. operates learning platform for students. It provides student learning platform, empowering students to take control of their education and help the students study, college admissions exams, accomplish their goals, get grades and test scores.

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