FY2019 EPS Estimates for Chegg Inc Raised by Analyst (NYSE:CHGG)

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Chegg Inc (NYSE:CHGG) – Investment analysts at Jefferies Financial Group increased their FY2019 EPS estimates for shares of Chegg in a report released on Tuesday, November 5th. Jefferies Financial Group analyst B. Thill now forecasts that the technology company will post earnings of $0.28 per share for the year, up from their prior estimate of $0.15. Jefferies Financial Group has a “Buy” rating and a $44.00 price objective on the stock. Jefferies Financial Group also issued estimates for Chegg’s FY2020 earnings at $0.16 EPS.

Several other analysts have also issued reports on CHGG. BMO Capital Markets cut their target price on shares of Chegg from $49.00 to $35.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Barrington Research started coverage on shares of Chegg in a research report on Monday, October 14th. They set a “buy” rating and a $50.00 target price for the company. ValuEngine lowered shares of Chegg from a “buy” rating to a “hold” rating in a research report on Wednesday, September 25th. Craig Hallum boosted their target price on shares of Chegg from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Finally, Citigroup upgraded shares of Chegg from a “neutral” rating to a “buy” rating and cut their target price for the company from $43.00 to $38.50 in a research report on Tuesday. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $43.79.

NYSE CHGG traded up $0.20 during trading hours on Friday, hitting $34.05. 864,243 shares of the company’s stock traded hands, compared to its average volume of 1,925,807. The business’s fifty day moving average price is $31.75 and its two-hundred day moving average price is $37.50. The company has a current ratio of 9.50, a quick ratio of 13.22 and a debt-to-equity ratio of 1.89. The firm has a market capitalization of $4.10 billion, a P/E ratio of 378.33, a P/E/G ratio of 5.04 and a beta of 0.95. Chegg has a 52 week low of $23.21 and a 52 week high of $48.22.

Chegg (NYSE:CHGG) last announced its earnings results on Monday, November 4th. The technology company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.10. The company had revenue of $94.20 million during the quarter, compared to analyst estimates of $89.04 million. Chegg had a negative net margin of 3.27% and a positive return on equity of 9.53%. The firm’s quarterly revenue was up 27.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.07 earnings per share.

In other Chegg news, insider Jenny Brandemuehl sold 50,420 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $41.58, for a total transaction of $2,096,463.60. Following the transaction, the insider now directly owns 252,103 shares in the company, valued at approximately $10,482,442.74. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John E. York sold 12,500 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $29.55, for a total transaction of $369,375.00. Following the transaction, the director now owns 26,035 shares in the company, valued at $769,334.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 687,266 shares of company stock worth $24,549,233. 5.80% of the stock is owned by company insiders.

A number of institutional investors have recently modified their holdings of the business. We Are One Seven LLC lifted its position in shares of Chegg by 7.4% during the second quarter. We Are One Seven LLC now owns 6,089 shares of the technology company’s stock valued at $234,000 after buying an additional 421 shares during the last quarter. Summit Creek Advisors LLC lifted its position in shares of Chegg by 0.3% during the second quarter. Summit Creek Advisors LLC now owns 163,180 shares of the technology company’s stock valued at $6,297,000 after buying an additional 450 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Chegg by 9.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,976 shares of the technology company’s stock valued at $209,000 after buying an additional 631 shares during the last quarter. Lisanti Capital Growth LLC lifted its position in shares of Chegg by 1.0% during the second quarter. Lisanti Capital Growth LLC now owns 67,565 shares of the technology company’s stock valued at $2,607,000 after buying an additional 700 shares during the last quarter. Finally, Prudential Financial Inc. lifted its position in shares of Chegg by 6.0% during the second quarter. Prudential Financial Inc. now owns 12,662 shares of the technology company’s stock valued at $489,000 after buying an additional 720 shares during the last quarter.

About Chegg

Chegg, Inc operates direct-to-student learning platform that supports students on their journey from high school to college and into their career with tools designed to help them pass their test, pass their class, and save money on required materials. The company offers Chegg Services, which include digital products and services; and required materials that comprise its print textbooks and eTextbooks.

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Earnings History and Estimates for Chegg (NYSE:CHGG)

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