Chegg, Inc. (NYSE:CHGG) Receives $2.08 Average Price Target from Analysts

Shares of Chegg, Inc. (NYSE:CHGG - Get Free Report) have been given an average recommendation of "Reduce" by the seven ratings firms that are presently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $2.08.

CHGG has been the subject of a number of research analyst reports. Piper Sandler cut their target price on shares of Chegg from $1.50 to $1.00 and set an "underweight" rating for the company in a research note on Tuesday, February 25th. Morgan Stanley reaffirmed an "underweight" rating and set a $1.25 price target (down previously from $2.00) on shares of Chegg in a research note on Tuesday, January 14th. Craig Hallum decreased their price objective on Chegg from $3.00 to $1.50 and set a "hold" rating for the company in a research note on Wednesday, November 13th. The Goldman Sachs Group reduced their price target 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. Finally, Needham & Company LLC reissued a "hold" rating on shares of Chegg in a research note on Tuesday, February 25th.

Hedge Funds Weigh In On Chegg

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Chegg by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 9,765,268 shares of the technology company's stock worth $15,722,000 after purchasing an additional 180,258 shares during the last quarter. Quinn Opportunity Partners LLC grew its holdings in Chegg by 48.6% during the fourth quarter. Quinn Opportunity Partners LLC now owns 2,879,937 shares of the technology company's stock worth $4,637,000 after purchasing an additional 941,410 shares during the period. Geode Capital Management LLC increased its position in Chegg by 1.2% during the third quarter. Geode Capital Management LLC now owns 2,315,187 shares of the technology company's stock worth $4,099,000 after buying an additional 26,574 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in Chegg by 6.8% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 2,307,264 shares of the technology company's stock valued at $3,715,000 after buying an additional 147,441 shares during the period. Finally, Two Sigma Investments LP lifted its position in shares of Chegg by 8.2% in the fourth quarter. Two Sigma Investments LP now owns 2,254,234 shares of the technology company's stock valued at $3,629,000 after buying an additional 170,077 shares during the last quarter. 95.18% of the stock is currently owned by institutional investors and hedge funds.

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Chegg Price Performance

Shares of NYSE:CHGG traded down $0.06 on Tuesday, hitting $0.81. The stock had a trading volume of 4,017,634 shares, compared to its average volume of 3,708,179. The firm's 50 day moving average price is $1.44 and its 200-day moving average price is $1.72. 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 has a twelve month low of $0.80 and a twelve month high of $8.41. The company has a market capitalization of $85.14 million, a price-to-earnings ratio of -0.10 and a beta of 1.52.

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.