Shares of online educational-tools company Chegg Inc. are up 1.5% in premarket trading Friday after the company posted earnings and revenue beats. The company reported late Thursday adjusted earnings of 10 cents per share on revenue of $77 million, ahead of expectations for 9 cents a share on revenue of $74 million. "Record high ~$500 million cash on the balance sheet expected in 2Q (vs $66 million 2Q17) gives the company good flexibility for strategic M&A in products and/or geographic diversity," wrote Jefferies analyst Brent Thill, who rates the stock a buy. "While Chegg has the assets in place internally to meet all financial goals, the increased cash position provides the option for inorganic expansion and faster growth." Thill boosted his price target to $27 from $22. Chegg shares are up 33% so far this year and 143% over the past 12 months. The S&P 500 is up 12% over the past year.