Chegg (NYSE:CHGG) Given New $7.00 Price Target at Jefferies Financial Group

Chegg (NYSE:CHGG) had its price objective cut by Jefferies Financial Group from $10.00 to $7.00 in a report released on Monday, Benzinga reports. They currently have a hold rating on the technology company’s stock.

Other equities research analysts have also issued research reports about the company. StockNews.com upgraded Chegg from a hold rating to a buy rating in a research report on Tuesday, January 23rd. BMO Capital Markets dropped their price objective on shares of Chegg from $11.00 to $10.00 and set a market perform rating on the stock in a report on Tuesday, February 6th. The Goldman Sachs Group reduced their target price on Chegg from $8.00 to $7.00 and set a sell rating for the company in a research note on Tuesday, February 6th. Piper Sandler downgraded Chegg from a neutral rating to an underweight rating and dropped their price target for the stock from $9.00 to $8.50 in a research note on Tuesday, February 6th. Finally, JPMorgan Chase & Co. reduced their price objective on Chegg from $10.00 to $9.00 and set a neutral rating for the company in a research note on Tuesday, February 6th. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $9.56.

Chegg Stock Performance

Shares of Chegg stock opened at $7.17 on Monday. Chegg has a twelve month low of $6.63 and a twelve month high of $17.92. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.26. The stock has a market cap of $728.26 million, a price-to-earnings ratio of -44.81, a P/E/G ratio of 1.38 and a beta of 1.26. The company’s fifty day moving average is $7.77 and its 200 day moving average is $9.09.

Chegg (NYSE:CHGG) last posted its quarterly earnings data on Monday, February 5th. The technology company reported $0.36 EPS for the quarter, meeting analysts’ consensus estimates of $0.36. Chegg had a net margin of 2.54% and a return on equity of 1.27%. The company had revenue of $187.99 million for the quarter, compared to analyst estimates of $185.94 million. During the same period in the prior year, the firm posted $0.16 EPS. The company’s quarterly revenue was down 8.4% on a year-over-year basis. Sell-side analysts forecast that Chegg will post 0.26 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CHGG. Sylebra Capital LLC bought a new stake in Chegg in the 3rd quarter worth about $61,286,000. Boston Partners bought a new position in shares of Chegg in the fourth quarter valued at approximately $12,091,000. Federated Hermes Inc. increased its position in shares of Chegg by 229.8% during the fourth quarter. Federated Hermes Inc. now owns 1,254,339 shares of the technology company’s stock valued at $14,249,000 after acquiring an additional 873,984 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Chegg by 7.5% during the fourth quarter. Vanguard Group Inc. now owns 11,630,011 shares of the technology company’s stock worth $132,117,000 after acquiring an additional 809,530 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Chegg by 39.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,648,182 shares of the technology company’s stock worth $30,084,000 after acquiring an additional 750,677 shares during the period. Hedge funds and other 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.