Analysts Set Chegg, Inc. (NYSE:CHGG) Target Price at $4.69

Shares of Chegg, Inc. (NYSE:CHGG) have been given an average rating of “Reduce” by the ten ratings firms that are covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $4.69.

CHGG has been the topic of a number of recent analyst reports. Craig Hallum reduced their price objective on shares of Chegg from $3.00 to $1.50 and set a “hold” rating on the stock in a research report on Wednesday, November 13th. Northland Securities cut their price target on shares of Chegg from $4.00 to $3.00 and set a “market perform” rating on the stock in a report on Wednesday, November 13th. Piper Sandler decreased their price objective on shares of Chegg from $2.00 to $1.50 and set an “underweight” rating for the company in a report on Thursday, November 14th. Needham & Company LLC reissued a “hold” rating on shares of Chegg in a research report on Wednesday, November 13th. Finally, The Goldman Sachs Group reduced their target price on shares of Chegg from $3.75 to $1.75 and set a “neutral” rating on the stock in a research report on Thursday, November 14th.

Chegg Stock Performance

NYSE CHGG opened at $1.77 on Thursday. The business’s 50 day moving average price is $1.92 and its 200-day moving average price is $2.31. Chegg has a fifty-two week low of $1.34 and a fifty-two week high of $11.48. The company has a market cap of $184.62 million, a P/E ratio of -0.22 and a beta of 1.36. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.91 and a current ratio of 0.91.

Chegg (NYSE:CHGG) last posted its quarterly earnings data on Tuesday, November 12th. The technology company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. Chegg had a negative net margin of 124.05% and a positive return on equity of 2.36%. The business had revenue of $136.59 million for the quarter, compared to analysts’ expectations of $134.12 million. During the same quarter in the previous year, the business posted ($0.07) earnings per share. The business’s revenue was down 13.5% compared to the same quarter last year. Sell-side analysts predict that Chegg will post 0.12 earnings per share for the current year.

Hedge Funds Weigh In On Chegg

A number of large investors have recently bought and sold shares of the business. Adero Partners LLC purchased a new stake in Chegg during the second quarter worth $34,000. Vanguard Personalized Indexing Management LLC bought a new stake in Chegg during the second quarter valued at about $60,000. Point72 Asia Singapore Pte. Ltd. boosted its position in Chegg by 272.2% during the third 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 in the last quarter. SG Americas Securities LLC purchased a new position in Chegg in the second quarter valued at about $99,000. Finally, Intech Investment Management LLC bought a new position in Chegg in the third quarter worth about $56,000. Institutional investors own 95.18% of the company’s stock.

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.