Chegg (CHGG) Received its Third Buy in a Row

By Carrie Williams

After Barrington and Northland Securities gave Chegg (NYSE: CHGG) a Buy rating last month, the company received another Buy, this time from Needham. Analyst Ryan MacDonald reiterated a Buy rating on Chegg today and set a price target of $50.00. The company’s shares closed last Monday at $29.33.

According to TipRanks.com, MacDonald is a 5-star analyst with an average return of 17.4% and a 67.2% success rate. MacDonald covers the Technology sector, focusing on stocks such as Verint Systems, Coupa Software, and Instructure.

Currently, the analyst consensus on Chegg is a Strong Buy with an average price target of $43.25, a 40.0% upside from current levels. In a report released yesterday, Northland Securities also maintained a Buy rating on the stock with a $44.00 price target.

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The company has a one-year high of $48.22 and a one-year low of $23.21. Currently, Chegg has an average volume of 1.74M.

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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.