News stories about Chegg (NYSE:CHGG) have trended somewhat positive on Saturday, Accern Sentiment reports. The research group scores the sentiment of media coverage by reviewing more than twenty million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Chegg earned a media sentiment score of 0.18 on Accern’s scale. Accern also gave news stories about the technology company an impact score of 45.4480554888772 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the near future.
These are some of the media headlines that may have effected Accern Sentiment Analysis’s scoring:
- Chegg, Inc. (NYSE:CHGG) Sees Significantly Higher Trading Volume – Modern Readers (modernreaders.com)
- Brokerages Anticipate Chegg, Inc. (CHGG) Will Announce Quarterly Sales of $57.58 Million (americanbankingnews.com)
- Is This Just A Random Move? – SUPERVALU Inc. (SVU), Chegg, Inc. (CHGG) – AllStockNews (allstocknews.com)
- Chegg, Inc. (NYSE:CHGG) Experiences Heavier than Usual Trading Volume – Modern Readers (modernreaders.com)
- Insider Trading Activity Chegg, Inc. (NYSE:CHGG) – Insider Sold 50,000 shares of Stock (4-traders.com)
Chegg (NYSE CHGG) opened at 14.63 on Friday. Chegg has a 52-week low of $6.51 and a 52-week high of $15.95. The firm’s 50-day moving average price is $13.98 and its 200-day moving average price is $10.72. The company’s market cap is $1.40 billion.
Chegg (NYSE:CHGG) last announced its quarterly earnings data on Tuesday, July 25th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by $0.08. The firm had revenue of $56.30 million during the quarter, compared to the consensus estimate of $53.33 million. Chegg had a negative return on equity of 8.10% and a negative net margin of 11.83%. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.05 EPS. On average, equities analysts anticipate that Chegg will post $0.24 EPS for the current year.
A number of equities research analysts have recently weighed in on CHGG shares. ValuEngine lowered Chegg from a “hold” rating to a “sell” rating and lowered their target price for the company from $10.00 to $8.00 in a research note on Thursday, May 11th. UBS AG raised Chegg from a “market perform” rating to an “outperform” rating in a research note on Tuesday, May 2nd. Zacks Investment Research lowered Chegg from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. Raymond James Financial, Inc. raised Chegg from a “market perform” rating to an “outperform” rating and set a $12.00 target price for the company in a research note on Tuesday, May 2nd. Finally, Lake Street Capital reissued a “buy” rating and issued a $12.00 target price (up previously from $9.00) on shares of Chegg in a research note on Tuesday, May 2nd. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $13.32.
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In other news, insider Nathan J. Schultz sold 15,276 shares of Chegg stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $12.00, for a total transaction of $183,312.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Andrew J. Brown sold 100,000 shares of Chegg stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $12.50, for a total transaction of $1,250,000.00. Following the sale, the insider now directly owns 678,760 shares of the company’s stock, valued at approximately $8,484,500. The disclosure for this sale can be found here. In the last three months, insiders sold 572,244 shares of company stock valued at $7,592,478. 20.40% of the stock is owned by insiders.
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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