Brokerages Set Chegg, Inc. (NYSE:CHGG) Target Price at $5.25

Chegg, Inc. (NYSE:CHGG) has been given a consensus recommendation of “Reduce” by the ten ratings firms that are presently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation and seven have given a hold recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $5.25.

Several research analysts have issued reports on CHGG shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Chegg in a report on Tuesday, August 6th. Craig Hallum decreased their price target on Chegg from $7.00 to $3.00 and set a “hold” rating on the stock in a report on Wednesday, August 7th. Northland Securities dropped their price objective on Chegg from $6.00 to $4.00 and set a “market perform” rating for the company in a report on Monday, October 21st. StockNews.com lowered shares of Chegg from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, Piper Sandler dropped their price target on shares of Chegg from $6.00 to $2.00 and set an “underweight” rating for the company in a research note on Tuesday, August 6th.

Chegg Stock Performance

Shares of NYSE:CHGG opened at $1.63 on Wednesday. The business has a fifty day moving average of $1.79 and a 200-day moving average of $3.10. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.89 and a current ratio of 0.89. Chegg has a twelve month low of $1.48 and a twelve month high of $11.48. The firm has a market cap of $166.62 million, a PE ratio of -0.27, a price-to-earnings-growth ratio of 0.59 and a beta of 1.31.

Chegg (NYSE:CHGG) last posted its quarterly earnings data on Monday, August 5th. The technology company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.03. Chegg had a negative net margin of 91.74% and a positive return on equity of 2.10%. The firm had revenue of $163.10 million during the quarter, compared to analysts’ expectations of $160.02 million. During the same quarter last year, the company posted $0.01 EPS. The company’s quarterly revenue was down 10.8% compared to the same quarter last year. On average, equities research analysts predict that Chegg will post 0.19 EPS for the current fiscal year.

Institutional Trading of Chegg

A number of large investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new position in Chegg during the first quarter worth about $30,000. Gladius Capital Management LP acquired a new position in shares of Chegg in the 2nd quarter valued at approximately $27,000. Adero Partners LLC bought a new stake in Chegg during the 2nd quarter worth approximately $34,000. Entropy Technologies LP acquired a new stake in Chegg during the 1st quarter worth approximately $90,000. Finally, Vanguard Personalized Indexing Management LLC bought a new position in Chegg in the second quarter valued at approximately $60,000. 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.