Chegg, Inc. (NYSE:CHGG) Receives Average Rating of “Reduce” from Analysts

Shares of Chegg, Inc. (NYSE:CHGG) have earned an average recommendation of “Reduce” from the ten analysts that are covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $4.69.

Several research analysts recently weighed in on the stock. StockNews.com downgraded shares of Chegg from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Northland Securities reduced their target price on Chegg from $4.00 to $3.00 and set a “market perform” rating on the stock in a research note on Wednesday, November 13th. Craig Hallum dropped their target price on shares of Chegg from $3.00 to $1.50 and set a “hold” rating on the stock in a report on Wednesday, November 13th. Needham & Company LLC reissued a “hold” rating on shares of Chegg in a research report on Wednesday, November 13th. Finally, Piper Sandler cut their target price on Chegg from $2.00 to $1.50 and set an “underweight” rating on the stock in a research report on Thursday, November 14th.

Chegg Price Performance

Shares of CHGG opened at $2.01 on Friday. Chegg has a twelve month low of $1.34 and a twelve month high of $11.48. The firm has a 50 day moving average of $1.69 and a 200 day moving average of $2.58. The company has a market capitalization of $209.66 million, a P/E ratio of -0.25, a price-to-earnings-growth ratio of 0.94 and a beta of 1.32. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.31.

Chegg (NYSE:CHGG) last released its quarterly earnings results on Tuesday, November 12th. The technology company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. The business had revenue of $136.59 million during the quarter, compared to the consensus estimate of $134.12 million. Chegg had a positive return on equity of 2.36% and a negative net margin of 124.05%. The business’s quarterly revenue was down 13.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.07) EPS. As a group, equities research analysts anticipate that Chegg will post 0.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Gladius Capital Management LP purchased a new stake in shares of Chegg during the second quarter worth about $27,000. Adero Partners LLC purchased a new stake in shares of Chegg in the 2nd quarter valued at approximately $34,000. Point72 Asia Singapore Pte. Ltd. lifted its stake in shares of Chegg by 272.2% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 25,051 shares of the technology company’s stock valued at $44,000 after purchasing an additional 18,320 shares during the last quarter. Intech Investment Management LLC purchased a new position in Chegg during the third quarter worth about $56,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in Chegg during the second quarter worth $60,000. Institutional investors and hedge funds own 95.18% of the company’s stock.

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.