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

Shares of Chegg, Inc. (NYSE:CHGG - Get Free Report) have received an average recommendation of "Reduce" from the ten research firms that are covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $4.69.

CHGG has been the subject of several recent research reports. Needham & Company LLC reiterated a "hold" rating on shares of Chegg in a research note on Wednesday, November 13th. Craig Hallum lowered their target price on Chegg from $3.00 to $1.50 and set a "hold" rating on the stock in a research note on Wednesday, November 13th. The Goldman Sachs Group lowered their price objective 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. Piper Sandler cut their price objective on shares of Chegg from $2.00 to $1.50 and set an "underweight" rating for the company in a research report on Thursday, November 14th. Finally, Northland Securities lowered their target price 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.

Institutional Trading of Chegg

Several large investors have recently modified their holdings of CHGG. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Chegg during the second quarter valued at approximately $60,000. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of Chegg by 272.2% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 25,051 shares of the technology company's stock valued at $44,000 after buying an additional 18,320 shares during the period. Intech Investment Management LLC acquired a new stake in shares of Chegg during the 3rd quarter worth $56,000. Headlands Technologies LLC raised its position in shares of Chegg by 6,994.3% in the 2nd quarter. Headlands Technologies LLC now owns 32,563 shares of the technology company's stock worth $103,000 after buying an additional 32,104 shares during the period. Finally, Aspire Wealth Management Corp acquired a new position in Chegg in the third quarter valued at $69,000. 95.18% of the stock is currently owned by institutional investors and hedge funds.

Chegg Stock Performance

Shares of Chegg stock traded down $0.17 on Monday, hitting $1.63. The stock had a trading volume of 795,410 shares, compared to its average volume of 2,331,315. The company's 50 day moving average price is $1.93 and its 200 day moving average price is $2.14. The stock has a market cap of $169.50 million, a price-to-earnings ratio of -0.20 and a beta of 1.40. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.31. Chegg has a 52-week low of $1.34 and a 52-week high of $11.25.

Chegg (NYSE:CHGG - Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The technology company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.03. Chegg had a positive return on equity of 2.36% and a negative net margin of 124.05%. The business had revenue of $136.59 million during the quarter, compared to the consensus estimate of $134.12 million. During the same period in the prior year, the company earned ($0.07) earnings per share. The company's revenue was down 13.5% compared to the same quarter last year. On average, 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.