Opinions
Jim Cramer - Mad Money
Chegg
CHGG-N
PARTIAL BUY
Sep 11, 2020
Had a justified huge move up, but has pulled back a lot. He likes it as current levels. Some may some the head-and-shoulders chart will go down, but he feels it'll hold the trendline.
$65.650
Stock price when the opinion was issued
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Given Covid threatening to shut down schools in America They offer remote learning. It's run up for now with a lot of good news already baked in, so it needs a rest. It's going to stall. Investors feel that good vaccine news will pressure this stock, and that's been happening actually.
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TOP PICK
Stockchase Research Editor: Michael O'Reilly The digital online learning space has clearly benefitted from the pandemic. CHGG provides unique online tutoring for students and offers a digital textbook rental service. Recently reported earnings were up over 40% and this year are expected up another 23%. The company has been profitable since 2016 and has added nicely to cash reserves. We would buy this with a stop loss at $61, looking to achieve $114 -- upside potential over 28%. Yield 0% (Analysts’ price target is $114.00)
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