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CHGG

Chegg

$41.49

-2.225 (-5.09%)

, LRN

K12

$28.70

-0.28 (-0.97%)

09:08
08/13/19
08/13
09:08
08/13/19
09:08

William Blair starts Chegg, K12 with Outperform ratings

William Blair analyst Stephen Sheldon yesterday afternoon initiated coverage of Chegg (CHGG) and K12 (LRN) with Outperform ratings, and of 2U (TWOU) with a Market Perform rating. The analyst also assumed coverage of Instructure (INST) with a Market Perform rating following an analyst departure earlier this year. The amount spent annually on traditional education is large and growing, estimated to reach close to $1.5 trillion in the United States, Sheldon wrote in a research note. There are "numerous pain points" in the education industry, and solutions from education technology providers are helping alleviate some of these "highly complex" issues, adds the analyst. He believes that Chegg should be able to deliver at least 20% revenue growth over the next three years and that K12 can deliver mid-single-digit revenue growth over time. For 2U, Sheldon believes tge shares will be range-bound until the company provides clarity on its long-term model and "rebuilds trust."

CHGG

Chegg

$41.49

-2.225 (-5.09%)

LRN

K12

$28.70

-0.28 (-0.97%)

TWOU

2U

$14.99

-0.14 (-0.93%)

INST

Instructure

$39.71

0.21 (0.53%)

  • 13

    Aug

  • 15

    Aug

  • 29

    Aug

CHGG Chegg
$41.49

-2.225 (-5.09%)

07/30/19
CHLM
07/30/19
NO CHANGE
Target $55
CHLM
Buy
Chegg price target raised to $55 from $50 at Craig-Hallum
Craig-Hallum analyst Alex Fuhrman raised his price target for Chegg to $55 from $50 after the company reported a "typical beat and raise" following a "strong" Spring semester and raised guidance. The analyst reiterates a Buy rating on the shares.
07/30/19
NEED
07/30/19
NO CHANGE
Target $50
NEED
Buy
Chegg price target raised to $50 from $44 at Needham
Needham analyst Ryan MacDonald raised his price target on Chegg to $50 and kept his Buy rating after its Q2 results beat expectations on all metrics. The analyst says the quarter was highlighted by the company's continued mix shift toward Chegg Services revenue as well as another increase in subscriber count from the prior quarter. MacDonald adds that the company's valuation is warranted given its international opportunity within an underpenetrated market.
07/30/19
JEFF
07/30/19
NO CHANGE
Target $46
JEFF
Buy
Chegg price target raised to $46 from $40 at Jefferies
Jefferies analyst Brent Thill raised his price target for Chegg to $46 from $40 saying the company yesterday reported its 10th consecutive beat and raise quarter. While the stock is not cheap at 12 times estimated 2020 Sales, investors have shown an increased willingness to pay up for the best fundamental stories, Thill tells investors in a post-earnings research note. He keeps a Buy rating on Chegg.
08/12/19
WBLR
08/12/19
INITIATION
WBLR
Outperform
Chegg initiated with an Outperform at William Blair
William Blair analyst Stephen Sheldon initiated Chegg with an Outperform rating.
LRN K12
$28.70

-0.28 (-0.97%)

08/12/19
WBLR
08/12/19
INITIATION
WBLR
Outperform
K12 initiated with an Outperform at William Blair
William Blair analyst Stephen Sheldon initiated K12 with an Outperform rating.
08/08/19
BMOC
08/08/19
NO CHANGE
Target $33
BMOC
Outperform
K12 price target lowered to $33 from $38 at BMO Capital
BMO Capital analyst Jeffrey Silber lowered his price target on K12 to $33, saying that while the company's Q4 earnings beat estimates amid "steady enrollment and positive pricing trend", the management warned it would fall short on FY20 consensus because of the likely loss of a major contract in Georgia. The analyst still keeps his Outperform rating on K12, calling the post-earnings sell-off excessive.
04/24/19
BRRR
04/24/19
NO CHANGE
Target $40
BRRR
Outperform
Barrington reiterates Outperform on K12 amid post-earnings selloff
After selling off nearly $6 in early trading this morning, most likely due to the fact that fiscal Q4 estimates need to come down slightly to remain within the updated guidance range, shares of shares of K12 are trading at 7.4 times calendar 2019 adjusted EBITDA, significantly below its online-focused postsecondary education peer group at 11.4 times, Barrington analyst Alexander Paris tells investors in a research note. The analyst reiterates an Outperform rating on K12 on the post-earnings weakness with an unchanged price target of $40.
08/07/19
SIDC
08/07/19
UPGRADE
SIDC
Buy
K12 upgraded to Buy from Neutral at Sidoti
TWOU 2U
$14.99

-0.14 (-0.93%)

08/08/19
SBSH
08/08/19
INITIATION
Target $20
SBSH
Buy
2U reinstated with a Buy at Citi
Citi analyst Thomas Singlehurst reinstated coverage of 2U with a Buy rating and $20 price target. Although the past few months "have been brutal," the market has overreacted, Singlehurst tells investors in a research note. The analyst believes the company's long-term opportunity remains "very significant."
08/12/19
WBLR
08/12/19
INITIATION
WBLR
Market Perform
2U initiated with a Market Perform at William Blair
William Blair analyst Stephen Sheldon initiated 2U with a Market Perform rating.
07/31/19
BRRR
07/31/19
DOWNGRADE
BRRR
Market Perform
Barrington downgrades 2U to Market Perform after Q2 falls short
Barrington analyst Alexander Paris downgraded 2U to Market Perform from Outperform citing management's lower guidance and the "uncertainty and higher variability of a more competitive environment." While 2U expects to offset some portion of the revenue decline by slowing the growth of its costs, particularly and said it is on a path to positive free cash flow generation, it is not yet saying when it will breakeven on a free cash flow basis, Paris points out. The stock in midday trading is down 66%, or $24.15, to $12.35.
08/01/19
BREN
08/01/19
DOWNGRADE
BREN
Hold
2U downgraded to Hold from Buy at Berenberg
INST Instructure
$39.71

0.21 (0.53%)

07/30/19
NEED
07/30/19
NO CHANGE
Target $46
NEED
Buy
Instructure price target lowered to $46 from $58 at Needham
Needham analyst Scott Berg lowered his price target on Instructure to $46, saying that while the company beat on Q2 earnings, its billings were in-line and its revenue growth excluding acquisitions impact decelerated to below 20%. The analyst maintains his Buy rating on Instructure shares however, noting that he remains optimistic about the company's GTM and Bridge product enhancement sentiment, which suggests that billings could recover in the back half of 2019.
08/12/19
OPCO
08/12/19
UPGRADE
OPCO
Outperform
Instructure upgraded to Outperform from Perform at Oppenheimer
Oppenheimer analyst Brian Schwartz upgraded Instructure to Outperform from Perform with a $56 price target.
08/12/19
08/12/19
UPGRADE

Outperform
Instructure upgraded to Outperform at Oppenheimer
As previously reported, Oppenheimer analyst Brian Schwartz upgraded Instructure to Outperform from Perform, with a $56 price target, as he sees a good self-help story. The analyst notes that investor sentiment has materially shifted away from expectations of unrealistically high growth rates many years into the future and the Street has finally accepted that a decelerating U.S. education spending trend cannot be easily overcome by robust growth Internationally and/or in the corporate business and actually hurts Instructure. Overall, he thinks valuation has reached an attractive level and the risk/reward is too attractive to ignore.
08/12/19
08/12/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Humana (HUM) upgraded to Overweight from Neutral at Cantor Fitzgerald with analyst Steven Halper saying the company's Louisiana Medicaid contract award demonstrates its success outside Medicare. 2. Instructure (INST) upgraded to Outperform from Perform at Oppenheimer with analyst Brian Schwartz saying he sees a good self-help story. 3. Apple Hospitality REIT (APLE) upgraded to Overweight from Equal Weight at Barclays with analyst Anthony Powell saying with "strong" cash returns, a lower mix of higher price urban markets, and higher mix of suburban and non-top 25 markets, Apple Hospitality offers exposure to "differentiated demand trends and relatively stable cash flows" within the lodging real estate investment trust subsector. 4. James Hardie (JHX) upgraded to Buy from Neutral at UBS. 5. Zimmer Biomet (ZBH) upgraded to Buy from Hold at Argus. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

DIS

Disney

$136.70

1.51 (1.12%)

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VNET

21Vianet

$7.00

0.17 (2.49%)

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NGL

NGL Energy Partners

$13.35

0.53 (4.13%)

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USPH

U.S. Physical Therapy

$136.10

1.54 (1.14%)

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SNE

Sony

$55.68

-0.04 (-0.07%)

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FN

Fabrinet

$56.40

0.77 (1.38%)

15:19
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$NSD

NASDAQ Market Internals

$0.00

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$NYE

NYSE Market Internals

$0.00

(0.00%)

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NBRV

Nabriva Therapeutics

$2.21

-0.06 (-2.64%)

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  • 19

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IQ

iQIYI

$18.29

1.21 (7.08%)

15:04
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  • 19

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ADI

Analog Devices

$111.23

0.73 (0.66%)

15:00
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  • 21

    Aug

BIDU

Baidu

$104.30

7.65 (7.92%)

14:49
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  • 19

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AVYA

Avaya

$12.27

-0.25 (-2.00%)

14:46
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  • 05

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TXG

10x Genomics

$0.00

(0.00%)

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F

Ford

$9.05

0.085 (0.95%)

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  • 23

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HIIQ

Health Insurance Innovations

$17.42

-0.11 (-0.63%)

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  • 12

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LAZ

Lazard

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1.14 (3.44%)

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WB

Weibo

$41.98

4.93 (13.31%)

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  • 19

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FB

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GOOG

Alphabet

$1,201.56

24.62 (2.09%)

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  • 24

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TRP

TC Pipeline

$48.70

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, SRE

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WB

Weibo

$42.03

4.98 (13.44%)

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  • 19

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NBRV

Nabriva Therapeutics

$2.13

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  • 19

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LAZ

Lazard

$33.90

0.77 (2.32%)

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