Cybersecurity
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
This article is for subscribers only.
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.