Chegg (NYSE:CHGG) Earns Hold Rating from Needham & Company LLC

Chegg (NYSE:CHGG - Get Free Report)'s stock had its "hold" rating reissued by equities researchers at Needham & Company LLC in a report issued on Thursday,Benzinga reports.

Other research analysts have also recently issued research reports about the company. Morgan Stanley reissued an "underweight" rating and issued a $1.25 price objective (down previously from $2.00) on shares of Chegg in a research note on Tuesday. Northland Securities dropped their price target on Chegg from $4.00 to $3.00 and set a "market perform" rating on the stock in a research report on Wednesday, November 13th. The Goldman Sachs Group decreased their price objective on Chegg from $3.75 to $1.75 and set a "neutral" rating for the company in a report on Thursday, November 14th. Craig Hallum dropped their target price on shares of Chegg from $3.00 to $1.50 and set a "hold" rating on the stock in a report on Wednesday, November 13th. Finally, Piper Sandler reduced their price target 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. Four research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $4.50.

Chegg Trading Up 0.3 %

Chegg stock traded up $0.01 during mid-day trading on Thursday, hitting $1.55. The company's stock had a trading volume of 1,462,617 shares, compared to its average volume of 2,789,462. Chegg has a one year low of $1.34 and a one year high of $10.86. The stock has a market cap of $161.16 million, a PE ratio of -0.19 and a beta of 1.40. The company has a 50 day moving average of $1.91 and a 200-day moving average of $2.11. 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 (NYSE:CHGG - Get Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The technology company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.06 by $0.03. The company had revenue of $136.59 million for the quarter, compared to the consensus estimate of $134.12 million. Chegg had a negative net margin of 124.05% and a positive return on equity of 2.36%. The firm's revenue was down 13.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.07) EPS. On average, research analysts anticipate that Chegg will post 0.12 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Pallas Capital Advisors LLC lifted its position in 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 acquiring an additional 6,658 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of Chegg by 272.2% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 25,051 shares of the technology company's stock valued at $44,000 after purchasing an additional 18,320 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of Chegg during the 3rd quarter valued at $56,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Chegg in the 2nd quarter worth $60,000. Finally, Aspire Wealth Management Corp purchased a new position in Chegg during the 3rd quarter worth $69,000. Hedge funds and other institutional investors own 95.18% of the company's stock.

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.