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

Shares of Chegg, Inc. (NYSE:CHGG - Get Free Report) have been given an average rating of "Reduce" by the seven brokerages that are covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $2.08.

A number of research analysts have recently commented on the company. Northland Securities cut their price target on Chegg from $4.00 to $3.00 and set a "market perform" rating for the company in a report on Wednesday, November 13th. Craig Hallum dropped their target price on shares of Chegg from $3.00 to $1.50 and set a "hold" rating for the company in a research report on Wednesday, November 13th. Morgan Stanley reaffirmed an "underweight" rating and set a $1.25 price objective (down previously from $2.00) on shares of Chegg in a report on Tuesday, January 14th. Piper Sandler decreased their price target on shares of Chegg from $1.50 to $1.00 and set an "underweight" rating on the stock in a research note on Tuesday, February 25th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Chegg in a research note on Tuesday, February 25th.

Institutional Trading of Chegg

Several large investors have recently bought and sold shares of CHGG. Pallas Capital Advisors LLC boosted its stake in shares of Chegg by 60.5% during the fourth quarter. Pallas Capital Advisors LLC now owns 17,659 shares of the technology company's stock valued at $28,000 after purchasing an additional 6,658 shares in the last quarter. Caprock Group LLC acquired a new position in shares of Chegg during the 4th quarter valued at $28,000. Virtus Fund Advisers LLC acquired a new stake in shares of Chegg in the 4th quarter valued at about $28,000. Ieq Capital LLC bought a new stake in shares of Chegg during the fourth quarter valued at approximately $31,000. Finally, Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of Chegg by 272.2% in the 3rd 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 last quarter. 95.18% of the stock is owned by institutional investors and hedge funds.

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Chegg Stock Performance

CHGG traded up $0.00 during trading on Tuesday, reaching $0.86. 4,892,253 shares of the company were exchanged, compared to its average volume of 3,683,096. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.31. The firm has a 50 day moving average of $1.45 and a 200 day moving average of $1.74. The stock has a market cap of $90.50 million, a P/E ratio of -0.11 and a beta of 1.41. Chegg has a 52 week low of $0.80 and a 52 week high of $8.41.

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.