Chegg, Inc. (NYSE:CHGG) Given Consensus Rating of “Reduce” by Analysts

Shares of Chegg, Inc. (NYSE:CHGG) have been assigned a consensus rating of “Reduce” from the ten research firms that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation and seven have given a hold recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $5.47.

A number of equities analysts have recently weighed in on CHGG shares. StockNews.com lowered Chegg from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Needham & Company LLC reiterated a “hold” rating on shares of Chegg in a research report on Tuesday, August 6th. Piper Sandler reduced their target price on shares of Chegg from $6.00 to $2.00 and set an “underweight” rating for the company in a research report on Tuesday, August 6th. The Goldman Sachs Group raised shares of Chegg from a “sell” rating to a “neutral” rating and cut their price objective for the company from $7.00 to $3.75 in a report on Tuesday, August 6th. Finally, Northland Securities lowered their target price on shares of Chegg from $7.00 to $6.00 and set a “market perform” rating on the stock in a report on Tuesday, August 6th.

Institutional Trading of Chegg

Large investors have recently bought and sold shares of the business. Vontobel Holding Ltd. boosted its stake in shares of Chegg by 8.3% in the 4th quarter. Vontobel Holding Ltd. now owns 55,128 shares of the technology company’s stock valued at $626,000 after purchasing an additional 4,240 shares in the last quarter. Mackenzie Financial Corp boosted its position in Chegg by 123.1% in the fourth quarter. Mackenzie Financial Corp now owns 141,400 shares of the technology company’s stock valued at $1,606,000 after buying an additional 78,024 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in Chegg by 6.4% in the fourth quarter. Daiwa Securities Group Inc. now owns 41,595 shares of the technology company’s stock valued at $473,000 after buying an additional 2,500 shares in the last quarter. Federated Hermes Inc. grew its stake 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 worth $14,249,000 after buying an additional 873,984 shares during the last quarter. Finally, Wedge Capital Management L L P NC acquired a new position in shares of Chegg during the fourth quarter worth $694,000. 95.18% of the stock is owned by institutional investors and hedge funds.

Chegg Stock Down 8.1 %

CHGG opened at $2.11 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.25. The stock’s fifty day simple moving average is $2.90 and its 200 day simple moving average is $5.41. Chegg has a 1-year low of $1.95 and a 1-year high of $11.48. The stock has a market cap of $215.17 million, a PE ratio of -11.08, a price-to-earnings-growth ratio of 0.56 and a beta of 1.35.

Chegg (NYSE:CHGG) last posted its earnings results on Monday, August 5th. The technology company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.03. Chegg had a net margin of 2.07% and a return on equity of 0.87%. The company 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. Chegg’s quarterly revenue was down 10.8% compared to the same quarter last year. As a group, research analysts expect that Chegg will post 0.28 earnings per share for the current year.

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.