Chegg (NYSE:CHGG) Given “Hold” Rating at Needham & Company LLC

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

A number of other research analysts have also recently weighed in on the company. Piper Sandler restated an “underweight” rating and issued a $6.00 price target (down previously from $8.50) on shares of Chegg in a research report on Tuesday, April 30th. Craig Hallum restated a “hold” rating and set a $7.00 target price (down from $13.00) on shares of Chegg in a report on Tuesday, April 30th. Morgan Stanley dropped their target price on shares of Chegg from $8.50 to $7.00 and set an “underweight” rating for the company in a report on Friday, April 19th. Finally, Jefferies Financial Group downgraded shares of Chegg from a “hold” rating to an “underperform” rating and dropped their target price for the company from $7.00 to $4.00 in a report on Tuesday, April 30th. Five analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Chegg has a consensus rating of “Hold” and an average target price of $7.31.

Chegg Trading Down 6.8 %

NYSE CHGG opened at $2.60 on Tuesday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $265.77 million, a P/E ratio of -13.68, a P/E/G ratio of 0.52 and a beta of 1.37. Chegg has a 52-week low of $2.60 and a 52-week high of $13.11. The firm has a 50-day moving average price of $5.01 and a 200 day moving average price of $7.88.

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

Hedge Funds Weigh In On Chegg

Institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC acquired a new stake in Chegg in the 1st quarter valued at approximately $30,000. Headlands Technologies LLC acquired a new stake in Chegg in the fourth quarter worth about $48,000. Quest Partners LLC bought a new position in Chegg in the 4th quarter valued at about $114,000. Entropy Technologies LP acquired a new position in Chegg during the 1st quarter valued at about $90,000. Finally, CI Investments Inc. bought a new stake in shares of Chegg during the 3rd quarter worth about $139,000. Institutional investors own 95.18% of the company’s stock.

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.