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

Chegg, Inc. (NYSE:CHGG - Get Free Report) has been given a consensus rating of "Reduce" by the ten analysts that are currently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $4.50.

A number of equities analysts recently issued reports on CHGG shares. Craig Hallum lowered their price target on Chegg from $3.00 to $1.50 and set a "hold" rating for the company in a report on Wednesday, November 13th. Piper Sandler lowered their target price 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. Morgan Stanley reiterated an "underweight" rating and set a $1.25 price target (down from $2.00) on shares of Chegg in a research note on Tuesday. Northland Securities reduced their price target on shares of Chegg from $4.00 to $3.00 and set a "market perform" rating for the company in a research report on Wednesday, November 13th. Finally, The Goldman Sachs Group dropped their price objective on Chegg from $3.75 to $1.75 and set a "neutral" rating on the stock in a report on Thursday, November 14th.

Hedge Funds Weigh In On Chegg

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Pallas Capital Advisors LLC lifted its position in Chegg by 60.5% during the 4th quarter. Pallas Capital Advisors LLC now owns 17,659 shares of the technology company's stock worth $28,000 after acquiring an additional 6,658 shares during the period. Virtu Financial LLC purchased a new position in shares of Chegg during the 3rd quarter worth approximately $130,000. Geode Capital Management LLC raised its stake in shares of Chegg by 1.2% during the 3rd 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 in the last quarter. XTX Topco Ltd lifted its holdings in shares of Chegg by 384.4% in the 3rd quarter. XTX Topco Ltd now owns 394,152 shares of the technology company's stock valued at $698,000 after buying an additional 312,780 shares during the period. Finally, Quadrature Capital Ltd boosted its stake in shares of Chegg by 85.6% in the third quarter. Quadrature Capital Ltd now owns 112,423 shares of the technology company's stock valued at $200,000 after buying an additional 51,837 shares in the last quarter. Hedge funds and other institutional investors own 95.18% of the company's stock.

Chegg Stock Up 0.3 %

Shares of CHGG traded up $0.01 during midday trading on Monday, reaching $1.55. The stock had a trading volume of 1,462,617 shares, compared to its average volume of 2,789,462. The company has a market cap of $161.16 million, a price-to-earnings ratio of -0.19 and a beta of 1.40. The company's fifty day simple moving average is $1.91 and its two-hundred day simple moving average is $2.11. Chegg has a 1-year low of $1.34 and a 1-year high of $10.86. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.91 and a quick ratio of 0.91.

Chegg (NYSE:CHGG - Get Free Report) last posted its quarterly earnings results 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. The company had revenue of $136.59 million for the quarter, compared to analysts' expectations of $134.12 million. Chegg had a positive return on equity of 2.36% and a negative net margin of 124.05%. Chegg's quarterly revenue was down 13.5% on a year-over-year basis. During the same period last year, the firm earned ($0.07) earnings per share. Equities research analysts expect that Chegg will post 0.12 earnings per share 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.