Brokerages Set Chegg, Inc. (NYSE:CHGG) PT at $4.69

Shares of Chegg, Inc. (NYSE:CHGG - Get Free Report) have received an average recommendation of "Reduce" from the ten ratings firms that are covering the stock, 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 1-year target price among analysts that have covered the stock in the last year is $4.69.

Several research analysts have recently commented on the company. Northland Securities decreased their price objective on 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 reduced their price target on Chegg from $2.00 to $1.50 and set an "underweight" rating on the stock in a research note on Thursday, November 14th. Craig Hallum lowered their price objective on Chegg from $3.00 to $1.50 and set a "hold" rating for the company in a research report on Wednesday, November 13th. Needham & Company LLC reaffirmed a "hold" rating on shares of Chegg in a research report on Wednesday, November 13th. Finally, The Goldman Sachs Group lowered their price target on shares of Chegg from $3.75 to $1.75 and set a "neutral" rating for the company in a research report on Thursday, November 14th.

Chegg Price Performance

Shares of CHGG stock traded down $0.12 on Thursday, reaching $1.85. The company's stock had a trading volume of 3,343,988 shares, compared to its average volume of 3,681,740. The stock's 50 day simple moving average is $1.91 and its 200-day simple moving average is $2.33. The company has a market capitalization of $192.97 million, a P/E ratio of -0.23 and a beta of 1.36. Chegg has a 12-month low of $1.34 and a 12-month high of $11.48. 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 - Get Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The technology company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.03. The firm had revenue of $136.59 million during the quarter, compared to analyst estimates of $134.12 million. Chegg had a positive return on equity of 2.36% and a negative net margin of 124.05%. The company's revenue was down 13.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.07) earnings per share. As a group, equities analysts predict that Chegg will post 0.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Adero Partners LLC bought a new position in shares of Chegg during the 2nd quarter valued at $34,000. Point72 Asia Singapore Pte. Ltd. raised its position in Chegg by 272.2% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 25,051 shares of the technology company's stock worth $44,000 after acquiring an additional 18,320 shares during the period. Intech Investment Management LLC purchased a new stake in shares of Chegg in the 3rd quarter worth $56,000. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Chegg in the 2nd quarter worth $60,000. Finally, Aspire Wealth Management Corp bought a new position in shares of Chegg in the third quarter worth about $69,000. 95.18% of the stock is owned by institutional investors.

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.