Chegg’s (CHGG) “Hold” Rating Reaffirmed at Needham & Company LLC

Chegg (NYSE:CHGG)‘s stock had its “hold” rating reiterated by equities research analysts at Needham & Company LLC in a report issued on Tuesday,Benzinga reports.

Other equities research analysts have also issued research reports about the stock. Morgan Stanley restated an “underweight” rating and set a $1.25 price target (down previously from $2.00) on shares of Chegg in a research note on Tuesday, January 14th. Northland Securities decreased their target price on Chegg from $4.00 to $3.00 and set a “market perform” rating for the company in a research report on Wednesday, November 13th. The Goldman Sachs Group dropped their price target on Chegg from $3.75 to $1.75 and set a “neutral” rating on the stock in a research report on Thursday, November 14th. Craig Hallum decreased their price objective on Chegg from $3.00 to $1.50 and set a “hold” rating for the company in a report on Wednesday, November 13th. Finally, Piper Sandler lowered their price objective on Chegg from $2.00 to $1.50 and set an “underweight” rating on the stock in a research note on Thursday, November 14th. Three research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to data from MarketBeat, Chegg has an average rating of “Hold” and a consensus target price of $2.17.

Chegg Stock Up 10.8 %

CHGG stock opened at $1.59 on Tuesday. The stock has a market cap of $165.33 million, a P/E ratio of -0.20 and a beta of 1.41. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.31. The stock’s fifty day simple moving average is $1.58 and its two-hundred day simple moving average is $1.80. Chegg has a 1-year low of $1.30 and a 1-year high of $9.14.

Chegg (NYSE:CHGG) last issued its quarterly earnings results on Monday, February 24th. The technology company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.14). Chegg had a positive return on equity of 2.36% and a negative net margin of 124.05%. Analysts expect that Chegg will post 0.15 EPS for the current year.

Hedge Funds Weigh In On Chegg

A number of hedge funds and other institutional investors have recently bought and sold shares of CHGG. XTX Topco Ltd lifted its position in Chegg by 384.4% in the 3rd quarter. XTX Topco Ltd now owns 394,152 shares of the technology company’s stock worth $698,000 after buying an additional 312,780 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Chegg by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,315,187 shares of the technology company’s stock worth $4,099,000 after acquiring an additional 26,574 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Chegg by 14.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 911,333 shares of the technology company’s stock valued at $1,613,000 after purchasing an additional 118,403 shares during the last quarter. BNP Paribas Financial Markets raised its position in Chegg by 389.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 100,774 shares of the technology company’s stock worth $178,000 after purchasing an additional 80,183 shares during the period. Finally, Caprock Group LLC bought a new stake in Chegg in the fourth quarter worth $28,000. 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.