Today’s Research Reports on Stocks to Watch: Square and Chegg
NEW YORK, NY / ACCESSWIRE / February 14, 2018 / Square shares were moving higher on Tuesday after the company's CFO made comments at a conference about the company's goals for the UK. Shares of Chegg were also in an uproar after posting better than expected fourth quarter results.
RDI Initiates Coverage on:
Square, Inc.
https://rdinvesting.com/report/?ticker=SQ
Chegg, Inc.
https://rdinvesting.com/report/?ticker=CHGG
Square's shares closed up 5.49% on Tuesday on lackluster trading volume compared to average. The digital payment processor saw its shares move north after the company's chief financial officer said at a conference that the company is making a big push into the UK this year. According to CFO Sarah Friar, who spoke at the Goldman Sachs tech and internet conference in San Francisco, "There's a long runway there that we can go after." According to Friar, the small business make up in the country is similar to the U.S. Square has been active in the UK since March of last year. Earlier this month, Credit Suisse analyst Paul Condra wrote, "We estimate international (transaction) volume currently amounts to about 5% growing to 13% by 2024 — a 35% annual growth rate. We estimate international net revenue (revenue less transaction fees) currently amounts to 4% of (Square's) total, growing to 13% by 2024." The stock has gained 188% in the last one year.
Access RDI's Square, Inc. Research Report at:
https://rdinvesting.com/report/?ticker=SQ
Chegg was one of the biggest gainers on the NYSE yesterday, closing the day up 17.05% on higher than usual volume. The online textbook rental and homework help company released better than expected fourth quarter results that had traders cheering on Monday. For the fourth quarter 2017, the company reported adjusted EPS of 15 cents a share. This was higher than the 8 cents that analysts had been expecting. It was also higher than the 10 cents the company earned in the year ago period. Revenues at $73.5 million were also ahead of the $70.5 million that was expected and was a 17% increase YOY. Shares of Chegg were soaring 5% in after-hours trading on Monday after the results. CEO Dan Rosensweig remarked, "2017 was our best year yet. Chegg Services revenue grew 44% year over year and we significantly improved profitability, which was driven by the leverage of our all digital model. We enter 2018 with tremendous momentum, giving us confidence to raise 2018 guidance, as we focus on our mission of helping students improve their academic, financial, and career outcomes." In the last one year, Chegg has gained over 166%.
Access RDI's Chegg, Inc. Research Report at:
https://rdinvesting.com/report/?ticker=CHGG
Our Actionable Research on Square, Inc. (NYSE: SQ) and Chegg, Inc. (NYSE: CHGG) can be downloaded free of charge at Research Driven Investing.
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SOURCE: RDInvesting.com
