Chegg, Inc. (NYSE:CHGG) Receives $5.25 Average PT from Analysts

Shares of Chegg, Inc. (NYSE:CHGG) have received a consensus recommendation of “Reduce” from the ten ratings firms that are covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $5.25.

A number of research analysts have recently commented on the company. Morgan Stanley lowered their price objective on Chegg from $3.25 to $3.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 6th. The Goldman Sachs Group raised shares of Chegg from a “sell” rating to a “neutral” rating and dropped their price target for the company from $7.00 to $3.75 in a research report on Tuesday, August 6th. Piper Sandler lowered their target price on shares of Chegg from $6.00 to $2.00 and set an “underweight” rating on the stock in a research note on Tuesday, August 6th. Craig Hallum lowered their price target on Chegg from $7.00 to $3.00 and set a “hold” rating on the stock in a research report on Wednesday, August 7th. Finally, Northland Securities cut their price objective on Chegg from $6.00 to $4.00 and set a “market perform” rating for the company in a research report on Monday, October 21st.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Gladius Capital Management LP acquired a new stake in Chegg during the second quarter valued at approximately $27,000. Allspring Global Investments Holdings LLC bought a new stake in Chegg in the first quarter valued at $30,000. Adero Partners LLC acquired a new position in Chegg during the second quarter worth $34,000. Vanguard Personalized Indexing Management LLC bought a new position in shares of Chegg during the second quarter valued at $60,000. Finally, Aspire Wealth Management Corp acquired a new stake in shares of Chegg in the 3rd quarter valued at $69,000. 95.18% of the stock is owned by institutional investors.

Chegg Trading Up 1.9 %

Shares of NYSE CHGG opened at $1.63 on Wednesday. The stock has a market cap of $166.62 million, a price-to-earnings ratio of -0.27, a PEG ratio of 0.59 and a beta of 1.31. The business has a 50 day simple moving average of $1.79 and a 200 day simple moving average of $3.10. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.89 and a current ratio of 0.89. Chegg has a 52 week low of $1.48 and a 52 week high of $11.48.

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

About Chegg

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.