Northland Securities Sticks to Its Buy Rating for Chegg Inc (CHGG)

By Ryan Adsit

In a report released today, Michael Grondahl from Northland Securities maintained a Buy rating on Chegg Inc (CHGGResearch Report), with a price target of $48. The company’s shares closed last Monday at $37.62.

Grondahl noted:

“We believe this looks like a solid TAM expanding acquisition that targets learners outside of a formal and traditional education setting. The world appears to be moving in this direction.”

According to TipRanks.com, Grondahl is a 5-star analyst with an average return of 13.6% and a 51.7% success rate. Grondahl covers the Financial sector, focusing on stocks such as Front Yard Residential Corporation, Altisource Portfolio Solutions SA, and Health Insurance Innovations.

Currently, the analyst consensus on Chegg Inc is a Strong Buy with an average price target of $49.67, representing a 28.4% upside. In a report issued on September 3, Barrington also reiterated a Buy rating on the stock with a $50 price target.

See today’s analyst top recommended stocks >>

The company has a one-year high of $48.22 and a one-year low of $22.67. Currently, Chegg Inc has an average volume of 1.49M.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.