Following meetings with the CFO and IR team of Chegg, Barrington analyst Alexander Paris raised his 2018 estimates, hiking his revenue forecast by $10M to $295M and his EPS view to 53c from 47c. Paris increased his price target on Chegg, which he sees as only in the early innings of its monetization efforts, to $17 from $12.50 and keeps an Outperform rating on the shares.

Morgan Stanley lowered the firm's price target on Chegg (CHGG) to $7 from $8.50 and keeps an Underweight rating on the shares. While the firm's fundamental estimates are unchanged, it has updated valuation multiples to reflect compression in the Education Software peer group, noting that revenue and EBITDA multiples are down low-double digits on average since last earnings. Among the group, the firm says it favors Docebo (DCBO) and Coursera (COUR) as it sees them with "the cleanest stories" and best likelihood for positive estimate revisions, which at odds with their discounted valuations.