Opinions
Jim Cramer - Mad Money
Chegg
CHGG-N
BUY ON WEAKNESS
Dec 02, 2020
A secular stock that's turned into a Covid play. We're now in post-Covid plays with vaccines emerging, and he doesn't want to be there. Let the share price slip before coming back in.
$76.030
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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