Chegg, Inc. (NYSE:CHGG) Given Average Recommendation of "Reduce" by Analysts

Chegg, Inc. (NYSE:CHGG - Get Free Report) has been assigned a consensus recommendation of "Reduce" from the ten ratings firms that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $5.25.

CHGG has been the topic of several research analyst reports. Morgan Stanley reduced their price target on shares of Chegg from $3.25 to $3.00 and set an "equal weight" rating on the stock in a research report on Tuesday, August 6th. Craig Hallum decreased their target price on Chegg from $7.00 to $3.00 and set a "hold" rating for the company in a research report on Wednesday, August 7th. Northland Securities dropped their price target on Chegg from $6.00 to $4.00 and set a "market perform" rating on the stock in a research report on Monday, October 21st. The Goldman Sachs Group raised Chegg from a "sell" rating to a "neutral" rating and reduced their price target for the stock from $7.00 to $3.75 in a research note on Tuesday, August 6th. Finally, StockNews.com lowered Chegg from a "buy" rating to a "hold" rating in a research report on Tuesday, August 6th.

Chegg Trading Down 7.8 %

Shares of CHGG stock traded down $0.14 during trading hours on Wednesday, reaching $1.66. The company's stock had a trading volume of 5,624,553 shares, compared to its average volume of 3,583,924. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.67. Chegg has a one year low of $1.48 and a one year high of $11.48. The stock has a market capitalization of $169.68 million, a P/E ratio of -8.71, a P/E/G ratio of 0.55 and a beta of 1.31. The firm's fifty day simple moving average is $1.81 and its 200 day simple moving average is $3.12.

Chegg (NYSE:CHGG - Get Free Report) last released its quarterly earnings results on Monday, August 5th. The technology company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.03. Chegg had a negative net margin of 91.74% and a positive return on equity of 2.10%. The business had revenue of $163.10 million for the quarter, compared to analysts' expectations of $160.02 million. During the same quarter in the previous year, the business posted $0.01 earnings per share. The firm's revenue for the quarter was down 10.8% compared to the same quarter last year. Equities research analysts expect that Chegg will post 0.19 EPS for the current year.

Institutional Trading of Chegg

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Chegg by 7.5% in the 4th quarter. Vanguard Group Inc. now owns 11,630,011 shares of the technology company's stock valued at $132,117,000 after acquiring an additional 809,530 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Chegg during the first quarter valued at $30,000. Janney Montgomery Scott LLC boosted its position in shares of Chegg by 26.1% during the first quarter. Janney Montgomery Scott LLC now owns 109,821 shares of the technology company's stock valued at $831,000 after buying an additional 22,701 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in Chegg by 89.2% in the 1st quarter. Daiwa Securities Group Inc. now owns 78,695 shares of the technology company's stock worth $596,000 after buying an additional 37,100 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new position in Chegg in the 1st quarter worth about $729,000. 95.18% of the stock is owned by hedge funds and other 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.