Chegg (CHGG) Receives a New Rating from a Top Analyst

Needham analyst Ryan MacDonald assigned a Buy rating to Chegg (CHGGResearch Report) today and set a price target of $120.00. The company’s shares closed last Tuesday at $75.56.

According to TipRanks.com, MacDonald is a top 100 analyst with an average return of 40.1% and a 71.0% success rate. MacDonald covers the Technology sector, focusing on stocks such as Zeta Global Holdings Corp, Momentive Global, and Coupa Software.

Chegg has an analyst consensus of Strong Buy, with a price target consensus of $113.33.

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The company has a one-year high of $115.21 and a one-year low of $62.84. Currently, Chegg has an average volume of 1.09M.

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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.