Chegg (CHGG) Receiving Somewhat Favorable News Coverage, Report Finds

Media headlines about Chegg (NYSE:CHGG) have been trending somewhat positive recently, according to Accern. The research group identifies negative and positive press coverage by analyzing more than 20 million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Chegg earned a coverage optimism score of 0.05 on Accern’s scale. Accern also gave news headlines about the technology company an impact score of 45.9339074731847 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.

Here are some of the headlines that may have effected Accern Sentiment Analysis’s rankings:

CHGG has been the subject of a number of research reports. BMO Capital Markets reissued an “outperform” rating and issued a $18.00 price objective (up previously from $16.00) on shares of Chegg in a research note on Wednesday, July 26th. Zacks Investment Research cut Chegg from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. Northland Securities reissued a “buy” rating and issued a $16.00 price objective on shares of Chegg in a research note on Friday, July 28th. BidaskClub cut Chegg from a “buy” rating to a “hold” rating in a research note on Saturday, August 26th. Finally, Lake Street Capital cut Chegg from a “buy” rating to a “hold” rating and raised their price objective for the company from $12.00 to $14.00 in a research note on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company. Chegg presently has an average rating of “Buy” and an average price target of $13.68.

Chegg (NYSE:CHGG) traded up 0.20% on Wednesday, hitting $15.27. The stock had a trading volume of 165,263 shares. The stock has a 50 day moving average price of $14.65 and a 200 day moving average price of $12.54. Chegg has a 1-year low of $6.51 and a 1-year high of $15.95. The company’s market cap is $1.61 billion.

Chegg (NYSE:CHGG) last posted its quarterly earnings results on Tuesday, July 25th. The technology company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.08). The company had revenue of $56.30 million during the quarter, compared to analysts’ expectations of $53.33 million. Chegg had a negative return on equity of 8.10% and a negative net margin of 11.83%. The business’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.05 EPS. On average, equities research analysts expect that Chegg will post $0.24 EPS for the current fiscal year.

In related news, General Counsel Dave Jr. Borders sold 13,256 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $15.06, for a total value of $199,635.36. Following the sale, the general counsel now owns 443,810 shares in the company, valued at approximately $6,683,778.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Charles Geiger sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $13.73, for a total value of $686,500.00. Following the completion of the sale, the insider now owns 561,500 shares in the company, valued at approximately $7,709,395. The disclosure for this sale can be found here. Insiders sold a total of 472,494 shares of company stock worth $6,712,525 in the last 90 days. 20.40% of the stock is currently owned by company insiders.

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About Chegg

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.

Insider Buying and Selling by Quarter for Chegg (NYSE:CHGG)

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