Chegg, Inc. (NYSE:CHGG) Receives $10.22 Average Price Target from Analysts

Shares of Chegg, Inc. (NYSE:CHGG) have received an average rating of “Reduce” from the ten ratings firms that are currently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $10.22.

Several research analysts have recently commented on the company. Piper Sandler Companies downgraded Chegg to an “underweight” rating and decreased their price objective for the stock from $9.00 to $8.50 in a research note on Tuesday, February 6th. BMO Capital Markets decreased their target price on Chegg from $11.00 to $10.00 and set a “market perform” rating on the stock in a research note on Tuesday, February 6th. StockNews.com raised Chegg from a “hold” rating to a “buy” rating in a research note on Tuesday, January 23rd. The Goldman Sachs Group decreased their target price on Chegg from $8.00 to $7.00 and set a “sell” rating on the stock in a research note on Tuesday, February 6th. Finally, Piper Sandler downgraded Chegg from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $9.00 to $8.50 in a research note on Tuesday, February 6th.

Chegg Stock Up 1.3 %

NYSE CHGG opened at $6.90 on Friday. The stock’s 50-day moving average price is $8.05 and its 200-day moving average price is $9.16. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.26. Chegg has a 52 week low of $6.63 and a 52 week high of $18.77. The company has a market capitalization of $710.36 million, a P/E ratio of -43.13, a price-to-earnings-growth ratio of 1.34 and a beta of 1.26.

Chegg (NYSE:CHGG) last posted its quarterly earnings data on Monday, February 5th. The technology company reported $0.36 EPS for the quarter, hitting the consensus estimate of $0.36. Chegg had a return on equity of 1.27% and a net margin of 2.54%. The firm had revenue of $187.99 million for the quarter, compared to the consensus estimate of $185.94 million. During the same quarter last year, the company earned $0.16 earnings per share. The business’s revenue for the quarter was down 8.4% compared to the same quarter last year. On average, equities research analysts predict that Chegg will post 0.26 earnings per share for the current year.

Institutional Trading of Chegg

Large investors have recently added to or reduced their stakes in the company. Captrust Financial Advisors increased its stake in Chegg by 79.6% in the 1st quarter. Captrust Financial Advisors now owns 2,012 shares of the technology company’s stock worth $73,000 after acquiring an additional 892 shares during the last quarter. Virtus Fund Advisers LLC bought a new stake in Chegg in the 4th quarter worth approximately $29,000. Point72 Asset Management L.P. bought a new stake in Chegg in the 2nd quarter worth approximately $25,000. AM Squared Ltd purchased a new position in shares of Chegg in the 1st quarter worth approximately $47,000. Finally, Headlands Technologies LLC purchased a new position in shares of Chegg in the 4th quarter worth approximately $48,000. 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.