Jefferies Believes Chegg Inc (NYSE: CHGG) Won’t Stop Here

By Carrie Williams

In a report issued on June 21, Brian Fitzgerald from Jefferies reiterated a Buy rating on Chegg Inc (NYSE: CHGG), with a price target of $13. The company’s shares opened today at $12, close to its 52-week high of $13.

According to TipRanks.com, Fitzgerald is a top 25 analyst with an average return of 22.5% and a 78.9% success rate. Fitzgerald covers the Technology sector, focusing on stocks such as Endurance International, Alliance Data Systems, and IAC/InterActiveCorp.

Chegg Inc has an analyst consensus of Strong Buy, with a price target consensus of $12.10.

Based on Chegg Inc’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $62.6 million and GAAP net loss of $6.4 million. In comparison, last year the company earned revenue of $66.65 million and had a GAAP net loss of $15.69 million.

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Chegg, Inc. provides student-first connected learning platform, empowering students to take control of their education and help the students study, college admissions exams, accomplish their goals, get grades and test scores. The company offers an array of required and non-required scholastic materials including millions of textbooks in any format, access to online homework help and textbook solutions, course organization and scheduling, as well as college and university matching tools and scholarship connections. Chegg was founded by Osman Rashid and Aayush Phumbhra on July 29, 2005 and is headquartered in Santa Clara, CA.,008BWL-E