Chegg (NYSE:CHGG) Earns “Hold” Rating from Needham & Company LLC

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

Other analysts have also recently issued research reports about the company. Morgan Stanley reaffirmed an “underweight” rating and issued a $1.25 price target (down previously from $2.00) on shares of Chegg in a research report 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 lowered their price target on Chegg from $3.75 to $1.75 and set a “neutral” rating on the stock in a report on Thursday, November 14th. Piper Sandler reduced their price objective on shares of Chegg from $2.00 to $1.50 and set an “underweight” rating for the company in a research note on Thursday, November 14th. Finally, Craig Hallum lowered their target price on shares of Chegg from $3.00 to $1.50 and set a “hold” rating on the stock in a research note on Wednesday, November 13th. Three investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, Chegg currently has an average rating of “Hold” and an average target price of $2.08.

Chegg Stock Down 3.3 %

CHGG stock opened at $1.04 on Tuesday. The firm has a market cap of $107.96 million, a PE ratio of -0.13 and a beta of 1.41. Chegg has a 1 year low of $1.01 and a 1 year high of $9.14. The company has a fifty day simple moving average of $1.54 and a 200 day simple moving average of $1.78. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.31.

Hedge Funds Weigh In On Chegg

Several large investors have recently bought and sold shares of CHGG. Pallas Capital Advisors LLC increased its holdings in shares of Chegg by 60.5% during the 4th quarter. Pallas Capital Advisors LLC now owns 17,659 shares of the technology company’s stock worth $28,000 after purchasing an additional 6,658 shares during the period. Intech Investment Management LLC grew its position in Chegg by 30.1% during the fourth quarter. Intech Investment Management LLC now owns 41,164 shares of the technology company’s stock worth $66,000 after buying an additional 9,514 shares in the last quarter. ProShare Advisors LLC increased its stake in Chegg by 51.2% during the fourth quarter. ProShare Advisors LLC now owns 28,360 shares of the technology company’s stock valued at $46,000 after acquiring an additional 9,600 shares during the period. Hsbc Holdings PLC raised its holdings in Chegg by 41.8% in the 4th quarter. Hsbc Holdings PLC now owns 50,206 shares of the technology company’s stock valued at $81,000 after acquiring an additional 14,801 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its position in shares of Chegg by 26.4% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 72,709 shares of the technology company’s stock worth $129,000 after acquiring an additional 15,180 shares during the period. 95.18% of the stock is currently owned by institutional investors and hedge funds.

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.