Chegg Inc (CHGG) Has a New Rating from Barrington

By Austin Angelo

Barrington analyst Alexander Paris initiated coverage with a Buy rating on Chegg Inc (CHGGResearch Report) today and set a price target of $50.00. The company’s shares closed last Monday at $32.13.

According to TipRanks.com, Paris has 0 stars on 0-5 star ranking scale with an average return of -4.9% and a 34.0% success rate. Paris covers the Services sector, focusing on stocks such as Adtalem Global Education Inc, American Public Education, and Strategic Education Inc.

Chegg Inc has an analyst consensus of Strong Buy, with a price target consensus of $47.00, a 46.3% upside from current levels. In a report issued on October 4, BMO Capital also maintained a Buy rating on the stock with a $35.00 price target.

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Based on Chegg Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $2.03 million. In comparison, last year the company had a GAAP net loss of $13.71 million.

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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.