Chegg, Inc. (NYSE:CHGG) Given Average Rating of "Reduce" by Brokerages

Shares of Chegg, Inc. (NYSE:CHGG - Get Free Report) have been given a consensus rating of "Reduce" by the ten ratings firms that are currently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $4.69.

A number of analysts have recently issued reports on the company. Northland Securities decreased their target price on Chegg from $4.00 to $3.00 and set a "market perform" rating for the company in a research report on Wednesday, November 13th. The Goldman Sachs Group decreased their price objective on shares of Chegg from $3.75 to $1.75 and set a "neutral" rating for the company in a report on Thursday, November 14th. Needham & Company LLC reiterated a "hold" rating on shares of Chegg in a report on Wednesday, November 13th. Craig Hallum decreased their price objective on shares of Chegg from $3.00 to $1.50 and set a "hold" rating for the company in a report on Wednesday, November 13th. Finally, StockNews.com cut shares of Chegg from a "buy" rating to a "hold" rating in a report on Tuesday, August 6th.

Institutional Trading of Chegg

Several hedge funds have recently modified their holdings of the company. Gladius Capital Management LP bought a new stake in shares of Chegg during the second quarter valued at approximately $27,000. Adero Partners LLC bought a new position in Chegg in the second quarter valued at approximately $34,000. Point72 Asia Singapore Pte. Ltd. boosted its stake 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 valued at $44,000 after acquiring an additional 18,320 shares during the last quarter. Intech Investment Management LLC bought a new position in Chegg in the third quarter valued at approximately $56,000. Finally, Vanguard Personalized Indexing Management LLC bought a new position in Chegg in the second quarter valued at approximately $60,000. Institutional investors and hedge funds own 95.18% of the company's stock.

Chegg Price Performance

Shares of NYSE CHGG traded up $0.21 during trading on Friday, hitting $2.01. The company had a trading volume of 4,560,582 shares, compared to its average volume of 4,007,541. The company has a market cap of $209.66 million, a P/E ratio of -0.25, a PEG ratio of 0.94 and a beta of 1.32. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.91 and a current ratio of 0.91. The business's 50-day moving average is $1.69 and its 200 day moving average is $2.55. Chegg has a 52 week low of $1.34 and a 52 week high of $11.48.

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 for the quarter, topping analysts' consensus estimates 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 firm had revenue of $136.59 million for the quarter, compared to analysts' expectations of $134.12 million. During the same quarter last year, the business posted ($0.07) EPS. Chegg's revenue was down 13.5% on a year-over-year basis. Equities research analysts predict that Chegg will post 0.13 earnings per share for the current fiscal 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.