Chegg, Inc. (NYSE:CHGG) Given Average Rating of “Strong Sell” by Brokerages

Chegg, Inc. (NYSE:CHGG) has been assigned a consensus recommendation of “Strong Sell” from the nine analysts that are presently covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a sell rating and four have issued a hold rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $7.31.

Several equities research analysts recently commented on CHGG shares. Needham & Company LLC reissued a “hold” rating on shares of Chegg in a report on Tuesday, June 18th. Craig Hallum reissued a “hold” rating and set a $7.00 target price (down previously from $13.00) on shares of Chegg in a research note on Tuesday, April 30th. Jefferies Financial Group downgraded shares of Chegg from a “hold” rating to an “underperform” rating and reduced their price target for the stock from $7.00 to $4.00 in a research report on Tuesday, April 30th. Morgan Stanley lowered their price objective on Chegg from $8.50 to $7.00 and set an “underweight” rating on the stock in a report on Friday, April 19th. Finally, Piper Sandler reissued an “underweight” rating and set a $6.00 target price (down previously from $8.50) on shares of Chegg in a report on Tuesday, April 30th.

Institutional Investors Weigh In On Chegg

A number of hedge funds have recently modified their holdings of the company. SG Americas Securities LLC boosted its holdings in Chegg by 4.5% in the 4th quarter. SG Americas Securities LLC now owns 51,205 shares of the technology company’s stock valued at $582,000 after purchasing an additional 2,216 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in Chegg by 6.4% in the fourth quarter. Daiwa Securities Group Inc. now owns 41,595 shares of the technology company’s stock valued at $473,000 after acquiring an additional 2,500 shares during the last quarter. Banco Santander S.A. grew its position in Chegg by 3.8% in the first quarter. Banco Santander S.A. now owns 101,773 shares of the technology company’s stock worth $770,000 after acquiring an additional 3,760 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in Chegg in the first quarter worth approximately $30,000. Finally, Headlands Technologies LLC acquired a new stake in Chegg during the fourth quarter worth $48,000. Hedge funds and other institutional investors own 95.18% of the company’s stock.

Chegg Trading Down 2.3 %

Shares of Chegg stock opened at $2.91 on Thursday. The firm has a 50-day simple moving average of $4.40 and a two-hundred day simple moving average of $7.53. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.92 and a current ratio of 0.92. Chegg has a fifty-two week low of $2.53 and a fifty-two week high of $13.11. The company has a market cap of $297.46 million, a P/E ratio of -15.32, a price-to-earnings-growth ratio of 0.55 and a beta of 1.37.

Chegg (NYSE:CHGG) last issued its quarterly earnings results on Monday, April 29th. The technology company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.03). The business had revenue of $174.35 million for the quarter, compared to analysts’ expectations of $174.05 million. Chegg had a return on equity of 0.87% and a net margin of 2.07%. As a group, equities analysts predict that Chegg will post 0.27 earnings per share for the current fiscal year.

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.