Chegg, Inc. (NYSE:CHGG) Receives $2.08 Consensus Price Target from Brokerages

Chegg, Inc. (NYSE:CHGG) has earned a consensus recommendation of “Reduce” from the seven brokerages that are covering the company, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $2.08.

Several equities research analysts have recently commented on CHGG shares. Needham & Company LLC reiterated a “hold” rating on shares of Chegg in a research report on Tuesday, February 25th. Morgan Stanley reaffirmed an “underweight” rating and set a $1.25 target price (down previously from $2.00) on shares of Chegg in a report on Tuesday, January 14th. Finally, Piper Sandler cut their price target on Chegg from $1.50 to $1.00 and set an “underweight” rating on the stock in a research note on Tuesday, February 25th.

Hedge Funds Weigh In On Chegg

Several institutional investors and hedge funds have recently made changes to their positions in the company. XTX Topco Ltd lifted its holdings in Chegg by 384.4% during the third quarter. XTX Topco Ltd now owns 394,152 shares of the technology company’s stock worth $698,000 after acquiring an additional 312,780 shares in the last quarter. Geode Capital Management LLC lifted 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 valued at $4,099,000 after purchasing an additional 26,574 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Chegg by 14.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 911,333 shares of the technology company’s stock valued at $1,613,000 after purchasing an additional 118,403 shares during the period. BNP Paribas Financial Markets increased its stake in Chegg by 389.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 100,774 shares of the technology company’s stock worth $178,000 after purchasing an additional 80,183 shares in the last quarter. Finally, Private Advisor Group LLC acquired a new stake in Chegg during the 4th quarter worth approximately $82,000. Institutional investors and hedge funds own 95.18% of the company’s stock.

Chegg Price Performance

Shares of CHGG stock opened at $0.51 on Friday. The firm has a market cap of $53.71 million, a price-to-earnings ratio of -0.06 and a beta of 1.52. Chegg has a 12 month low of $0.50 and a 12 month high of $7.68. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.31. The stock has a 50-day moving average price of $1.09 and a 200 day moving average price of $1.54.

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.