Chegg, Inc. (NYSE:CHGG) Receives $10.22 Consensus Price Target from Brokerages

Shares of Chegg, Inc. (NYSE:CHGG) have received a consensus recommendation of “Reduce” from the ten ratings firms that are covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $10.22.

A number of analysts have recently issued reports on CHGG shares. Piper Sandler cut Chegg from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $9.00 to $8.50 in a report on Tuesday, February 6th. Piper Sandler Companies lowered Chegg to an “underweight” rating and reduced their price target for the stock from $9.00 to $8.50 in a research report on Tuesday, February 6th. StockNews.com raised Chegg from a “hold” rating to a “buy” rating in a research report on Tuesday, January 23rd. BMO Capital Markets reduced their price target on Chegg from $11.00 to $10.00 and set a “market perform” rating on the stock in a research report on Tuesday, February 6th. Finally, The Goldman Sachs Group reduced their price target on Chegg from $8.00 to $7.00 and set a “sell” rating on the stock in a research report on Tuesday, February 6th.

Chegg Stock Down 4.1 %

CHGG opened at $6.86 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market capitalization of $706.24 million, a price-to-earnings ratio of -42.88, a price-to-earnings-growth ratio of 1.39 and a beta of 1.26. The business has a 50-day moving average of $8.12 and a two-hundred day moving average of $9.19. Chegg has a 12 month low of $6.75 and a 12 month high of $18.77.

Chegg (NYSE:CHGG) last issued its earnings results on Monday, February 5th. The technology company reported $0.36 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.36. Chegg had a return on equity of 1.27% and a net margin of 2.54%. The business had revenue of $187.99 million during the quarter, compared to analysts’ expectations of $185.94 million. During the same quarter in the previous year, the business earned $0.16 EPS. The company’s revenue for the quarter was down 8.4% on a year-over-year basis. On average, research analysts expect that Chegg will post 0.26 earnings per share for the current year.

Hedge Funds Weigh In On Chegg

A number of institutional investors have recently made changes to their positions in CHGG. Point72 Asset Management L.P. acquired a new stake in shares of Chegg during the 2nd quarter valued at approximately $25,000. Virtus Fund Advisers LLC acquired a new stake in shares of Chegg during the 4th quarter valued at approximately $29,000. AM Squared Ltd acquired a new stake in shares of Chegg during the 1st quarter valued at approximately $47,000. Headlands Technologies LLC acquired a new stake in shares of Chegg during the 4th quarter valued at approximately $48,000. Finally, Tower Research Capital LLC TRC raised its position in shares of Chegg by 58.4% during the 3rd quarter. Tower Research Capital LLC TRC now owns 5,539 shares of the technology company’s stock valued at $49,000 after acquiring an additional 2,043 shares in the last quarter. 95.18% of the stock is owned by institutional investors and hedge funds.

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.