Chegg, Inc. (NYSE:CHGG) Given Average Rating of “Reduce” by Brokerages

Chegg, Inc. (NYSE:CHGG) has earned an average rating of “Reduce” from the ten ratings firms that are currently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating and seven have issued a hold rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $5.47.

CHGG has been the topic of several analyst reports. Craig Hallum lowered their target price on shares of Chegg from $7.00 to $3.00 and set a “hold” rating on the stock in a report on Wednesday, August 7th. The Goldman Sachs Group raised Chegg from a “sell” rating to a “neutral” rating and lowered their price objective for the company from $7.00 to $3.75 in a report on Tuesday, August 6th. Piper Sandler dropped their target price on Chegg from $6.00 to $2.00 and set an “underweight” rating on the stock in a research report on Tuesday, August 6th. Northland Securities cut their target price on Chegg from $7.00 to $6.00 and set a “market perform” rating for the company in a research note on Tuesday, August 6th. Finally, Needham & Company LLC restated a “hold” rating on shares of Chegg in a research note on Tuesday, August 6th.

Institutional Investors Weigh In On Chegg

A number of institutional investors and hedge funds have recently modified their holdings of CHGG. Gladius Capital Management LP acquired a new position in Chegg during the second quarter worth $27,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Chegg during the 1st quarter worth $30,000. Adero Partners LLC purchased a new stake in shares of Chegg in the 2nd quarter worth about $34,000. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Chegg in the 2nd quarter worth about $60,000. Finally, Entropy Technologies LP acquired a new stake in Chegg in the 1st quarter valued at about $90,000. Institutional investors and hedge funds own 95.18% of the company’s stock.

Chegg Stock Down 4.2 %

CHGG opened at $1.82 on Tuesday. Chegg has a 52 week low of $1.78 and a 52 week high of $11.48. The business has a 50 day moving average price of $2.64 and a two-hundred day moving average price of $4.69. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.67. The company has a market cap of $186.04 million, a PE ratio of -9.58, a P/E/G ratio of 0.68 and a beta of 1.32.

Chegg (NYSE:CHGG) last released its quarterly earnings results on Monday, August 5th. The technology company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.21 by $0.03. Chegg had a positive return on equity of 2.10% and a negative net margin of 91.74%. The business had revenue of $163.10 million during the quarter, compared to analysts’ expectations of $160.02 million. During the same quarter in the prior year, the business earned $0.01 earnings per share. The company’s quarterly revenue was down 10.8% compared to the same quarter last year. As a group, research analysts anticipate that Chegg will post 0.19 EPS for the current year.

Chegg Company Profile

Chegg, Inc operates a direct-to-student learning platform that helps learners build essential life and job skills to accelerate their path from learning programs in the United States and internationally. Its subscription services include Chegg Study, which offers personalized step-by-step learning support from AI, computational engines, and subject matter experts, as well as Tinger Gold and DashPash Student services; Chegg Writing that provides students with a suite of tools, such as plagiarism detection scans, grammar and writing fluency checking, expert personalized writing feedback, and premium citation generation; Chegg Math, a step-by-step math problem solver and calculator that helps students to solve problems; Chegg Study Pack, a bundle of various subscription product offerings, including Chegg Study, Chegg Writing, and Chegg Math services; and Busuu, an online language learning platform that offers comprehensive support through self-paced lessons, live classes with expert tutors, and a community of members to practice alongside.