Chegg, Inc. (NYSE:CHGG) Receives $5.47 Consensus Target Price from Analysts

Chegg, Inc. (NYSE:CHGG - Get Free Report) has earned an average rating of "Reduce" from the ten analysts that are presently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a sell recommendation and seven have assigned a hold recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $5.47.

Several equities research analysts have recently issued reports on CHGG shares. Morgan Stanley lowered their target price on shares of Chegg from $3.25 to $3.00 and set an "equal weight" rating for the company in a report on Tuesday, August 6th. Craig Hallum decreased their price objective on shares of Chegg from $7.00 to $3.00 and set a "hold" rating for the company in a report on Wednesday, August 7th. StockNews.com lowered shares of Chegg from a "buy" rating to a "hold" rating in a report on Tuesday, August 6th. Northland Securities decreased their price objective on shares of Chegg from $7.00 to $6.00 and set a "market perform" rating for the company in a report on Tuesday, August 6th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Chegg in a report on Tuesday, August 6th.

Chegg Price Performance

CHGG stock traded up $0.09 during trading on Friday, hitting $2.06. 3,638,374 shares of the company's stock traded hands, compared to its average volume of 3,539,381. Chegg has a 52 week low of $1.95 and a 52 week high of $11.48. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.92 and a current ratio of 0.92. The business has a fifty day simple moving average of $2.96 and a 200 day simple moving average of $5.58. The stock has a market capitalization of $210.06 million, a price-to-earnings ratio of -10.84, a P/E/G ratio of 0.56 and a beta of 1.35.

Chegg (NYSE:CHGG - Get Free Report) last released its earnings results on Monday, August 5th. The technology company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.03. The firm had revenue of $163.10 million during the quarter, compared to analyst estimates of $160.02 million. Chegg had a net margin of 2.07% and a return on equity of 0.87%. The business's revenue was down 10.8% on a year-over-year basis. During the same quarter last year, the business earned $0.01 EPS. As a group, research analysts expect that Chegg will post 0.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CHGG. Vontobel Holding Ltd. grew its position in shares of Chegg by 8.3% in the 4th quarter. Vontobel Holding Ltd. now owns 55,128 shares of the technology company's stock worth $626,000 after buying an additional 4,240 shares during the last quarter. Mackenzie Financial Corp grew its position in Chegg by 123.1% during the 4th quarter. Mackenzie Financial Corp now owns 141,400 shares of the technology company's stock worth $1,606,000 after purchasing an additional 78,024 shares during the last quarter. Daiwa Securities Group Inc. grew its position in Chegg by 6.4% during the 4th quarter. Daiwa Securities Group Inc. now owns 41,595 shares of the technology company's stock worth $473,000 after purchasing an additional 2,500 shares during the last quarter. Federated Hermes Inc. grew its position in Chegg by 229.8% during the 4th quarter. Federated Hermes Inc. now owns 1,254,339 shares of the technology company's stock worth $14,249,000 after purchasing an additional 873,984 shares during the last quarter. Finally, Wedge Capital Management L L P NC purchased a new stake in Chegg during the 4th quarter worth approximately $694,000. 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.