Chegg, Inc. (NYSE:CHGG) Receives $2.17 Average Target Price from Brokerages

Chegg, Inc. (NYSE:CHGG) has been given a consensus recommendation of “Reduce” by the seven ratings firms that are covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating and four have issued a hold rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $2.17.

Several research firms recently weighed in on CHGG. Craig Hallum dropped their price target on Chegg from $3.00 to $1.50 and set a “hold” rating on the stock in a research report on Wednesday, November 13th. Piper Sandler dropped their price objective on shares of Chegg from $2.00 to $1.50 and set an “underweight” rating on the stock in a research note on Thursday, November 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Chegg in a research note on Thursday, January 16th. Morgan Stanley reissued an “underweight” rating and issued a $1.25 price target (down from $2.00) on shares of Chegg in a research report on Tuesday, January 14th. Finally, Northland Securities lowered their price objective on Chegg from $4.00 to $3.00 and set a “market perform” rating for the company in a research note on Wednesday, November 13th.

Institutional Trading of Chegg

A number of institutional investors and hedge funds have recently modified their holdings of the business. Caprock Group LLC purchased a new stake in shares of Chegg during the fourth quarter valued at $28,000. Pallas Capital Advisors LLC boosted its holdings in shares of Chegg by 60.5% during the 4th quarter. Pallas Capital Advisors LLC now owns 17,659 shares of the technology company’s stock valued at $28,000 after acquiring an additional 6,658 shares during the last quarter. Ieq Capital LLC bought a new stake in shares of Chegg in the fourth quarter worth approximately $31,000. Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of 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 during the last quarter. Finally, Intech Investment Management LLC bought a new position in Chegg during the third quarter valued at approximately $56,000. Institutional investors own 95.18% of the company’s stock.

Chegg Stock Up 1.1 %

Shares of Chegg stock opened at $1.43 on Friday. The company’s fifty day simple moving average is $1.78 and its two-hundred day simple moving average is $1.92. Chegg has a 12-month low of $1.34 and a 12-month high of $9.34. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.31. The company has a market cap of $148.64 million, a P/E ratio of -0.18 and a beta of 1.41.

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, topping analysts’ consensus estimates of $0.06 by $0.03. The company had revenue of $136.59 million during the quarter, compared to the consensus estimate of $134.12 million. Chegg had a negative net margin of 124.05% and a positive return on equity of 2.36%. Chegg’s revenue was down 13.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.07) earnings per share. Research analysts anticipate that Chegg will post 0.12 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.