Chegg (NYSE:CHGG) Reaches New 52-Week Low at $7.30

Shares of Chegg, Inc. (NYSE:CHGGGet Free Report) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $7.30 and last traded at $7.37, with a volume of 158717 shares. The stock had previously closed at $7.37.

Wall Street Analyst Weigh In

CHGG has been the subject of several research analyst reports. JPMorgan Chase & Co. decreased their price target on shares of Chegg from $10.00 to $9.00 and set a “neutral” rating for the company in a research note on Tuesday, February 6th. BMO Capital Markets reduced their price objective on shares of Chegg from $11.00 to $10.00 and set a “market perform” rating for the company in a research note on Tuesday, February 6th. The Goldman Sachs Group reduced their price objective on shares of Chegg from $8.00 to $7.00 and set a “sell” rating for the company in a research note on Tuesday, February 6th. StockNews.com upgraded shares of Chegg from a “hold” rating to a “buy” rating in a research note on Tuesday, January 23rd. Finally, Piper Sandler lowered shares of Chegg from a “neutral” rating to an “underweight” rating and reduced their price objective for the company from $9.00 to $8.50 in a research note on Tuesday, February 6th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $10.22.

Read Our Latest Stock Analysis on CHGG

Chegg Price Performance

The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $779.33 million, a P/E ratio of -47.31, a P/E/G ratio of 1.52 and a beta of 1.28. The business’s fifty day moving average price is $8.76 and its 200-day moving average price is $9.38.

Chegg (NYSE:CHGGGet Free Report) last posted its quarterly earnings results on Monday, February 5th. The technology company reported $0.36 earnings per share for the quarter, hitting the consensus estimate of $0.36. The business had revenue of $187.99 million during the quarter, compared to the consensus estimate of $185.94 million. Chegg had a net margin of 2.54% and a return on equity of 1.27%. The firm’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.16 earnings per share. As a group, sell-side analysts predict that Chegg, Inc. will post 0.24 earnings per share for the current fiscal year.

Institutional Trading of Chegg

Several hedge funds have recently added to or reduced their stakes in CHGG. Point72 Asset Management L.P. purchased a new position in shares of Chegg during the second quarter valued at about $25,000. Virtus Fund Advisers LLC purchased a new position in shares of Chegg during the fourth quarter valued at about $29,000. AM Squared Ltd purchased a new position in shares of Chegg during the first quarter valued at about $47,000. Headlands Technologies LLC purchased a new position in shares of Chegg during the fourth quarter valued at about $48,000. Finally, Tower Research Capital LLC TRC increased its position in shares of Chegg by 58.4% during the third quarter. Tower Research Capital LLC TRC now owns 5,539 shares of the technology company’s stock valued at $49,000 after buying an additional 2,043 shares during the period. 95.18% of the stock is owned by institutional investors.

Chegg Company Profile

(Get Free Report)

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.

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