Northland Securities analyst Michael Grondahl maintained a Buy rating on Chegg (CHGG – Research Report) yesterday and set a price target of $110.00. The company’s shares closed last Tuesday at $82.65.
According to TipRanks.com, Grondahl is a top 100 analyst with an average return of 29.3% and a 61.8% success rate. Grondahl covers the Financial sector, focusing on stocks such as Altisource Portfolio Solutions SA, International Money Express, and WisdomTree Investments.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Chegg with a $112.43 average price target, a 31.1% upside from current levels. In a report issued on April 28, Barrington also reiterated a Buy rating on the stock with a $120.00 price target.
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 62 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.
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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.