According to Marketbeat.com, the sixteen research firms that are currently covering shares of Chegg, Inc. have all rated the company as a “Hold,” which indicates that they believe the company will continue to perform well in the future.
Ten market watchers have recommended keeping the stock in one’s portfolio, while only four have suggested purchasing the stock. The stock is being followed by analysts, and they anticipate that it will reach a median price of $27.64 in one year.
Chegg Upgraded by BMO Capital Markets
Concerning CHGG, a number of studies have been published. BMO Capital Markets upgraded Chegg’s rating from “market perform” to “sector perform” and increased their price target from $23.00 to $26.00 on Thursday, November 3. In a report that was published on Monday, August 22nd, TheStreet moved Chegg’s rating up to “c-” from “d+,” where it had been previously.
On November 2, Morgan Stanley assigned Chegg an “equal weight” rating and increased their price target, which had previously stood at $22, to $24.
On November 2, Citigroup changed their rating for Chegg’s stock to “neutral” and raised their price target for the company from $25 to $29.
On November 2nd, Piper Sandler increased their price target for Chegg from $23.00 to $24.00, but they maintained their “neutral” rating for the company.
Making and getting sales Produced by employees of the company.
On November 15, the individual in charge of Chegg, Paul Leblanc, who sold 12,890 shares of the company’s stock. The stock generated a total of $360,920 in revenue with an average price of $28 per share.
Following the completion of the sale, the Director now has ownership of 11,861 shares of the company’s stock. It is estimated that these shares are worth a total of $332,108 when combined.
Documents outlining the terms of the transaction were submitted to the SEC, and those documents have been uploaded to the agency’s website for public viewing. People currently employed by the company own 2.25 percent of the company’s total shares as of right now.
What Certain Investors in Hedge Funds Think About Chegg?
Recently, a number of hedge funds have made adjustments to the stocks that they currently hold in their portfolios. The value of Vanguard Group Inc.’s ownership of Chegg increased by 1.5% by the end of the third quarter compared to its value at the beginning of the period.
Vanguard Group Inc. now has 11,766,644 shares of the technology company’s stock, which gives it a market value of $247,923,000. This is a result of the company having purchased 179,401 additional shares during the most recent quarter.
Through the course of the third quarter, Sands Capital Management LLC was able to acquire an additional 12.9% worth of Chegg shares.
After purchasing an additional 615,280 shares during the preceding quarter, Sands Capital Management LLC now owns a total of 5,377,528 of the tech company’s shares, which are worth a total of $113,305,000.
During the first three months of this year, Clearbridge Investments LLC increased their holdings in Chegg by 0.5% by purchasing additional shares. Following the acquisition of an additional 13,278 shares during the preceding quarter, Clearbridge Investments LLC now holds a total of 2,628,689 shares of the stock of the technology company, which have a value of $95,369,000.
Granahan Investment Management LLC increased its holdings in Chegg by 60.5% during the first three months of the year by purchasing additional shares.
Granahan Investment Management LLC increased their holdings in the stock of the technology company during the most recent quarter by purchasing an additional 979,467 shares, bringing their total number of shares to 2,598,021, with a value of $94,256,000.
During the second quarter, Renaissance Technologies LLC increased the total number of shares of Chegg stock that it owned by 1,062.9%. The total number of shares of the technology company’s stock that Renaissance Technologies LLC currently owns is 2,457,200, and their value is $46,146,000.
This represents an increase from the previous quarter’s total of 2,245,900 shares. The vast majority of the company’s stock (95,61%) is held by large investment firms.
The Process Behind Chegg:
What kind of preparations should you make with Chegg before the fourth-quarter earnings report?
Chegg, Inc. operates a direct-to-student learning platform that provides students with products and services to assist them in studying and comprehending the content of their academic courses, beginning with their first days as students and continuing well into the professional stages of their lives.
The company offers a variety of educational resources, including traditional textbooks, electronic textbooks (eTextbooks), and subscription services.
Why not invest $1,000 into Chegg right this minute?
You should give this a listen before signing up for Chegg if you’re considering doing so.
Every day, MarketBeat compiles a list of the research analysts on Wall Street who have the highest ratings and the most success, as well as a list of the stocks that these analysts recommend to their customers.
MarketBeat has discovered five stocks that the most respected analysts on Wall Street are advising their clients to purchase before the rest of the market does so. The answer to that question is no, Chegg.
The consensus opinion among financial analysts is that Chegg should be “Held” going forward. However, five other stocks have been suggested by respected analysts as being purchases of greater value.