Chegg, Inc. (NYSE:CHGG) Receives $5.47 Consensus PT from Brokerages

Shares of Chegg, Inc. (NYSE:CHGG) have been given a consensus recommendation of “Reduce” by the ten ratings firms that are covering the company, Marketbeat reports. Three analysts have rated the stock with a sell recommendation and seven have assigned a hold recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $5.47.

A number of equities research analysts recently weighed in on CHGG shares. The Goldman Sachs Group upgraded Chegg from a “sell” rating to a “neutral” rating and reduced their price objective for the stock from $7.00 to $3.75 in a research report on Tuesday, August 6th. Needham & Company LLC restated a “hold” rating on shares of Chegg in a research report on Tuesday, August 6th. Craig Hallum reduced their price target on Chegg from $7.00 to $3.00 and set a “hold” rating on the stock in a research report on Wednesday, August 7th. Morgan Stanley reduced their price target on Chegg from $3.25 to $3.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 6th. Finally, Northland Securities reduced their price target on Chegg from $7.00 to $6.00 and set a “market perform” rating on the stock in a research report on Tuesday, August 6th.

Institutional Investors Weigh In On Chegg

Institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC purchased a new stake in shares of Chegg during the first quarter worth $30,000. Gladius Capital Management LP purchased a new stake in shares of Chegg in the second quarter worth $27,000. Quest Partners LLC purchased a new stake in shares of Chegg in the fourth quarter worth $114,000. Adero Partners LLC purchased a new stake in shares of Chegg in the second quarter worth $34,000. Finally, Entropy Technologies LP purchased a new stake in shares of Chegg in the first quarter worth $90,000. Hedge funds and other institutional investors own 95.18% of the company’s stock.

Chegg Trading Down 0.5 %

Shares of CHGG opened at $1.84 on Tuesday. The firm has a market cap of $188.08 million, a price-to-earnings ratio of -9.68, a PEG ratio of 0.68 and a beta of 1.31. Chegg has a 52-week low of $1.78 and a 52-week high of $11.48. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.89 and a current ratio of 0.89. The business’s fifty day moving average is $2.57 and its 200-day moving average is $4.56.

Chegg (NYSE:CHGG) last issued its quarterly earnings data on Monday, August 5th. The technology company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.03. The business had revenue of $163.10 million for the quarter, compared to analyst estimates of $160.02 million. Chegg had a positive return on equity of 2.10% and a negative net margin of 91.74%. Chegg’s quarterly revenue was down 10.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.01 EPS. Equities analysts anticipate that Chegg will post 0.19 EPS for the current fiscal year.

About Chegg

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.