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Data Breach Risks Reminding Chegg Clients of Old Accounts

  • Shares drop a second day after disclosing database breach
  • Analysts are standing by their ratings and price targets

Chegg Inc. shares dropped for a second day as investors continue to try and assess the potential price tag from a database hack.

“The cost of the breach to Chegg remains uncertain,” Morgan Stanley analyst Brian Essex wrote in a note. Investors seem to be mostly concerned with how the data breach will affect subscriber growth, he added.