Chegg, Inc. (NYSE:CHGG) Given Consensus Rating of “Reduce” by Analysts

Shares of Chegg, Inc. (NYSE:CHGG) have earned an average rating of “Reduce” from the ten brokerages that are covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a sell recommendation and seven have assigned a hold recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $4.69.

Several brokerages have recently weighed in on CHGG. Northland Securities reduced their price target 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. Craig Hallum reduced their target price on Chegg from $3.00 to $1.50 and set a “hold” rating for the company in a report on Wednesday, November 13th. Piper Sandler lowered their price target on shares of Chegg from $2.00 to $1.50 and set an “underweight” rating on the stock in a report on Thursday, November 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Chegg in a research note on Wednesday, November 13th. Finally, The Goldman Sachs Group lowered their target price on shares of Chegg from $3.75 to $1.75 and set a “neutral” rating on the stock in a research note on Thursday, November 14th.

Chegg Stock Up 7.6 %

Shares of NYSE:CHGG opened at $1.78 on Monday. Chegg has a 1 year low of $1.34 and a 1 year high of $11.25. The company has a market capitalization of $185.14 million, a PE ratio of -0.22 and a beta of 1.40. The business has a fifty day moving average price of $1.93 and a two-hundred day moving average price of $2.14. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.91 and a quick ratio of 0.91.

Chegg (NYSE:CHGG) last released its earnings results on Tuesday, November 12th. The technology company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. Chegg had a negative net margin of 124.05% and a positive return on equity of 2.36%. The firm had revenue of $136.59 million during the quarter, compared to the consensus estimate of $134.12 million. During the same period in the prior year, the firm earned ($0.07) EPS. The company’s revenue was down 13.5% compared to the same quarter last year. Analysts forecast that Chegg will post 0.12 earnings per share for the current year.

Institutional Trading of Chegg

Several large investors have recently modified their holdings of the business. Millennium Management LLC boosted its stake in shares of Chegg by 158.4% during the 2nd quarter. Millennium Management LLC now owns 2,221,344 shares of the technology company’s stock valued at $7,019,000 after purchasing an additional 1,361,710 shares in the last quarter. XTX Topco Ltd lifted its holdings in Chegg by 384.4% in the third 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 period. AQR Capital Management LLC boosted its position in Chegg by 284.9% during the 2nd quarter. AQR Capital Management LLC now owns 2,878,869 shares of the technology company’s stock valued at $8,694,000 after acquiring an additional 2,130,998 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Chegg by 1.2% during 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 period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Chegg by 14.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 911,333 shares of the technology company’s stock worth $1,613,000 after acquiring an additional 118,403 shares in the last quarter. 95.18% of the stock is owned by 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.