News coverage about Chegg (NYSE:CHGG) has trended somewhat positive recently, Accern Sentiment Analysis reports. The research firm ranks the sentiment of media coverage by monitoring more than 20 million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Chegg earned a news sentiment score of 0.21 on Accern’s scale. Accern also assigned media headlines about the technology company an impact score of 45.342012831552 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the next few days.
These are some of the media headlines that may have effected Accern Sentiment’s scoring:
- Adobe Systems Incorporated (NASDAQ:ADBE) Shares Bought by ClariVest Asset Management LLC (vothemes.com)
- Chegg Inc (CHGG) MESA Average Sinks Below FAMA – Evergreen Caller (evergreencaller.com)
- Affirm: The San Francisco Startup Using Fintech To Simplify Lending (benzinga.com)
- Chegg, Inc. (CHGG) Given “Buy” Rating at Jefferies Group LLC (americanbankingnews.com)
- Clues to Identify Price Direction: Molina Healthcare, Inc. (MOH), Chegg, Inc. (CHGG) – AllStockNews (allstocknews.com)
A number of research firms have recently commented on CHGG. BMO Capital Markets reaffirmed an “outperform” rating and issued a $18.00 price target (up from $16.00) on shares of Chegg in a report on Wednesday, July 26th. Northland Securities reaffirmed a “buy” rating and issued a $16.00 price target on shares of Chegg in a report on Friday, July 28th. Lake Street Capital lowered Chegg from a “buy” rating to a “hold” rating and raised their price target for the stock from $12.00 to $14.00 in a report on Wednesday, July 26th. J P Morgan Chase & Co reaffirmed an “overweight” rating and issued a $15.00 price target (up from $12.00) on shares of Chegg in a report on Wednesday, July 26th. Finally, Zacks Investment Research raised Chegg from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a report on Friday, July 28th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $13.68.
Chegg (NYSE CHGG) traded up 0.86% during midday trading on Monday, reaching $14.06. The company had a trading volume of 411,320 shares. The company’s market capitalization is $1.35 billion. The firm has a 50-day moving average price of $14.50 and a 200-day moving average price of $11.45. Chegg has a 52 week low of $6.51 and a 52 week high of $15.95.
Chegg (NYSE:CHGG) last posted its quarterly earnings data on Tuesday, July 25th. The technology company reported ($0.04) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.04 by $0.08. Chegg had a negative return on equity of 8.10% and a negative net margin of 11.83%. The firm had revenue of $56.30 million during the quarter, compared to analysts’ expectations of $53.33 million. During the same period last year, the company earned $0.05 earnings per share. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. Analysts expect that Chegg will post $0.24 EPS for the current fiscal year.
In related news, insider Charles Geiger sold 50,000 shares of the stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $12.13, for a total value of $606,500.00. Following the sale, the insider now directly owns 536,500 shares of the company’s stock, valued at approximately $6,507,745. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Andrew J. Brown sold 100,000 shares of the stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $14.00, for a total transaction of $1,400,000.00. Following the completion of the sale, the insider now directly owns 678,760 shares in the company, valued at $9,502,640. The disclosure for this sale can be found here. Insiders sold a total of 427,268 shares of company stock worth $5,832,118 over the last three months. 20.40% of the stock is currently owned by corporate insiders.
Chegg Company Profile
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.
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