In a report released yesterday, Alexander Paris from Barrington reiterated a Buy rating on Chegg Inc (CHGG), with a price target of $44. The company’s shares closed yesterday at $37.46, close to its 52-week high of $38.76.
Paris commented:
“We are raising our 12‐month price target to $44 (from $32), reflecting our increased confidence in management’s near‐term growth strategies. Opinion OUTPERFORM Suitability/Risk (12 mo) $45 Target 26% LT EPS Growth Rate 30% Market Data Price $34.80 52‐Wk High $36.05 52‐Wk Low $15.47 Market Cap (mil) $4,358 Enterprise Value (mil) $4,158 Shares Outstanding (mil) 125.2 Insider Ownership 10% Institutional Ownership 90% Average Daily Volume 1,314,980 Financial / Equity (LTM) NM Net LT Debt/Capital Nil EV/EBITDA (2019E) 36.0X EV/Sales (2019E) 10.6X Dividend $0.00 Dividend Yield Jr., CFA (312) 634‐6352 634‐6343 ($mil) Non‐GAAP EPS (est.”
According to TipRanks.com, Paris is a 4-star analyst with an average return of 8.1% and a 50.2% success rate. Paris covers the Services sector, focusing on stocks such as Adtalem Global Education Inc, Franklin Covey Company, and Grand Canyon Education.
Chegg Inc has an analyst consensus of Moderate Buy, with a price target consensus of $40.20, implying a 7.3% upside from current levels. In a report released yesterday, J.P. Morgan also reiterated a Buy rating on the stock with a $42 price target.
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Based on Chegg Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $5.35 million. In comparison, last year the company had a net profit of $3.66 million.
Based on the recent corporate insider activity of 97 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.
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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.
