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

By Austin Angelo

Northland Securities analyst Michael Grondahl reiterated a Buy rating on Chegg Inc (NYSE: CHGG) on October 30 and set a price target of $18. The company’s shares closed yesterday at $15.51, close to its 52-week high of $16.50.

According to TipRanks.com, Grondahl is a 5-star analyst with an average return of 21.3% and a 64.8% success rate. Grondahl covers the Financial sector, focusing on stocks such as Altisource Portfolio Solutions SA, Health Insurance Innovations, and WisdomTree Investments.

Currently, the analyst consensus on Chegg Inc is Strong Buy and the average price target is $18.75, representing a 20.9% upside.

In a report issued on October 16, BMO Capital also reiterated a Buy rating on the stock with a $18 price target.

The company has a one-year high of $16.50 and a one-year low of $6.51. Currently, Chegg Inc has an average volume of 1.12M.

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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.