Chegg Inc (CHGG) is Reiterated by Piper Jaffray to Overweight, Raises Price Target to $ 7

Chegg Inc (CHGG) was Reiterated by Piper Jaffray to “Overweight” according to the research note released today. The brokerage firm has raised the Price Target to $ 7 from a previous price target of $6 . Piper Jaffray advised their investors in a research report released on Aug 2, 2016.

On the company’s financial health, Chegg Inc reported $0.05 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Aug 1, 2016. Analyst had a consensus of $0.03. The company had revenue of $53.03 million for the quarter, compared to analysts expectations of $49.73 million. The company’s revenue was down -20.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.01 EPS.

Chegg Inc opened for trading at $5.34 and hit $5.44 on the upside on Friday, eventually ending the session at $5.39, with a gain of 1.32% or 0.07 points. The heightened volatility saw the trading volume jump to 5,46,009 shares. Company has a market cap of $486 M.

In a different news, on Feb 25, 2016, Daniel Rosensweig (CEO) purchased 48,842 shares at $4.09 per share price. According to the SEC, on Feb 25, 2016, Andrew J Brown (CFO) purchased 30,000 shares at $4.16 per share price. On Feb 25, 2015, Nathan J. Schultz (CHIEF LEARNING OFFICER) sold 31,919 shares at $8.50 per share price, according to the Form-4 filing with the securities and exchange commission.

Chegg Inc. is a student-first connected learning platform. The Company offer textbooks and from digital offerings. Digital offerings primarily include Student Hub the Company’s connected learning platform its Web-based multiplatform eTextbook Reader eTextbooks and supplemental materials from approximately 120 publishers online tutoring its Chegg Study service College Admissions Scholarship Services and internship services. The Company sources print textbooks eTextbooks and supplemental materials publishers in the United States including Pearson Cengage Learning McGraw Hill Wiley and MacMillan. In addition the Company also offers enrollment marketing services to colleges. The Company also works with brands such as Adobe Dell Microsoft PayPal Proctor & Gamble Red Bull and Shutterfly to provide students with discounts promotions and other products that based on student feedback.

Chegg Inc

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