Chegg (CHGG) PT Raised to $120 at Needham & Company
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Chegg (CHGG) Gains on Strong Earnings and Raised Guidance, Firms Raise PTs
February 9, 2021 7:30 AM ESTDirect-to-student learning platform Chegg (NASDAQ: CHGG) reported stronger-than-expected results for the three and twelve months ended December 31, 2020. Analysts were positive about the strong results and international expansion and raised numbers and their price targets.
The company reported fourth-quarter earnings per share of $0.55 on sales of $205.7 million, higher than the Streets expectations of EPS of $0.51 on sales of $189.68 million. Earnings soared 46% while revenue jumped 51% compared to a year ago.
CHGG saw its subscription base increase from 3.7 million in Q3 to 6.6 million at the end of the quarter.
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