Chegg's (CHGG) "Underweight" Rating Reiterated at Morgan Stanley

Chegg (NYSE:CHGG - Get Free Report)'s stock had its "underweight" rating reissued by stock analysts at Morgan Stanley in a research report issued on Tuesday, MarketBeat.com reports. They presently have a $1.25 price target on the technology company's stock, down from their prior price target of $2.00. Morgan Stanley's price target suggests a potential downside of 14.97% from the stock's previous close.

CHGG has been the subject of several other research reports. Needham & Company LLC restated a "hold" rating on shares of Chegg in a research report on Wednesday, November 13th. The Goldman Sachs Group dropped 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. Piper Sandler reduced their target price on Chegg from $2.00 to $1.50 and set an "underweight" rating on the stock in a research note on Thursday, November 14th. Craig Hallum lowered their target price on shares of Chegg from $3.00 to $1.50 and set a "hold" rating for the company in a research note on Wednesday, November 13th. Finally, Northland Securities lowered their price objective 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. Four investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. Based on data from MarketBeat, Chegg presently has a consensus rating of "Hold" and an average price target of $4.50.

Chegg Trading Down 9.3 %

Shares of Chegg stock traded down $0.15 on Tuesday, reaching $1.47. The company had a trading volume of 6,859,743 shares, compared to its average volume of 3,021,067. The firm's 50-day moving average price is $1.93 and its two-hundred day moving average price is $2.13. Chegg has a 1 year low of $1.34 and a 1 year high of $11.25. The firm has a market cap of $153.33 million, a price-to-earnings ratio of -0.18 and a beta of 1.40. 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 data 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 business had revenue of $136.59 million for the quarter, compared to analysts' expectations of $134.12 million. Chegg had a negative net margin of 124.05% and a positive return on equity of 2.36%. The business's revenue was down 13.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.07) earnings per share. As a group, research analysts predict that Chegg will post 0.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CHGG. Dimensional Fund Advisors LP raised its holdings in Chegg by 10.4% in the second quarter. Dimensional Fund Advisors LP now owns 4,585,055 shares of the technology company's stock worth $14,488,000 after purchasing an additional 433,709 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Chegg by 284.9% during the 2nd quarter. AQR Capital Management LLC now owns 2,878,869 shares of the technology company's stock worth $8,694,000 after acquiring an additional 2,130,998 shares in the last quarter. Geode Capital Management LLC lifted 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 valued at $4,099,000 after acquiring an additional 26,574 shares during the last quarter. Millennium Management LLC boosted its stake in Chegg by 158.4% in the second quarter. Millennium Management LLC now owns 2,221,344 shares of the technology company's stock valued at $7,019,000 after acquiring an additional 1,361,710 shares in the last quarter. Finally, Divisadero Street Capital Management LP acquired a new stake in Chegg in the second quarter valued at approximately $3,501,000. 95.18% of the stock is owned by institutional investors.

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.