Analysts Set Chegg, Inc. (NYSE:CHGG) Target Price at $4.69

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

Several equities research analysts have weighed in on CHGG shares. The Goldman Sachs Group cut their price target on Chegg from $3.75 to $1.75 and set a “neutral” rating on the stock in a research report on Thursday, November 14th. Craig Hallum dropped their target price on Chegg from $3.00 to $1.50 and set a “hold” rating on the stock in a report on Wednesday, November 13th. Piper Sandler reduced their price target on Chegg from $2.00 to $1.50 and set an “underweight” rating for the company in a research report on Thursday, November 14th. Morgan Stanley lowered their price objective on Chegg from $3.25 to $3.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 6th. Finally, StockNews.com lowered shares of Chegg from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th.

Institutional Trading of Chegg

A number of institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its holdings in shares of Chegg by 10.4% during the second quarter. Dimensional Fund Advisors LP now owns 4,585,055 shares of the technology company’s stock worth $14,488,000 after buying an additional 433,709 shares in the last quarter. AQR Capital Management LLC raised its holdings in Chegg by 284.9% in 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 during the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in Chegg by 4.0% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 2,747,406 shares of the technology company’s stock worth $20,798,000 after purchasing an additional 105,511 shares in the last quarter. Geode Capital Management LLC boosted 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 purchasing an additional 26,574 shares during the last quarter. Finally, Millennium Management LLC grew its position in shares of Chegg by 158.4% in the second 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. 95.18% of the stock is owned by institutional investors and hedge funds.

Chegg Trading Down 1.1 %

Chegg stock opened at $2.24 on Friday. The stock has a 50-day moving average price of $1.70 and a 200 day moving average price of $2.53. The company has a market capitalization of $233.13 million, a price-to-earnings ratio of -0.28, a price-to-earnings-growth ratio of 1.30 and a beta of 1.32. Chegg has a 52 week low of $1.34 and a 52 week high of $11.48. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.31.

Chegg (NYSE:CHGG) last released its quarterly earnings data on Tuesday, November 12th. The technology company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.06 by $0.03. The business had revenue of $136.59 million for the quarter, compared to the consensus estimate of $134.12 million. Chegg had a negative net margin of 124.05% and a positive return on equity of 2.36%. The business’s revenue for the quarter was down 13.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.07) EPS. Sell-side analysts anticipate that Chegg will post 0.1 EPS for the current year.

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.