In a report released today, Ryan MacDonald from Needham assigned a Buy rating to Chegg (CHGG), with a price target of $120.00. The company’s shares closed last Friday at $91.69.
According to TipRanks.com, MacDonald is a 5-star analyst with an average return of 40.9% and a 69.2% success rate. MacDonald covers the Technology sector, focusing on stocks such as Coupa Software, ChannelAdvisor, and Verint Systems.
Chegg has an analyst consensus of Strong Buy, with a price target consensus of $116.92.
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Based on Chegg’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $206 million and net profit of $26.04 million. In comparison, last year the company earned revenue of $126 million and had a net profit of $8.22 million.
Based on the recent corporate insider activity of 64 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CHGG in relation to earlier this year.
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. engages in the operations of learning platform for students. It intends to empower 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; college and university matching tools; and scholarship connections. Its services include Chegg study, writing, tutors, and math solver. The company was founded by Osman Rashid and Aayush Phumbhra on July 29, 2005 and is headquartered in Santa Clara, CA.
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