Brokerages Set Chegg, Inc. (NYSE:CHGG) PT at $1.00

Chegg, Inc. (NYSE:CHGG) has been assigned an average recommendation of “Strong Sell” from the five analysts that are currently covering the company, Marketbeat reports. Three analysts have rated the stock with a sell recommendation and two have issued a hold recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $1.00.

CHGG has been the topic of several research analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Chegg in a research report on Monday, December 29th. Zacks Research lowered Chegg from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Chegg in a research note on Tuesday, February 10th.

Chegg Stock Up 1.7%

NYSE CHGG opened at $0.59 on Tuesday. The business has a 50 day moving average price of $0.82 and a 200-day moving average price of $1.10. The company has a market cap of $64.14 million, a price-to-earnings ratio of -0.61 and a beta of 1.98. Chegg has a 52 week low of $0.44 and a 52 week high of $1.90.

Chegg (NYSE:CHGG) last posted its earnings results on Monday, February 9th. The technology company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.18. Chegg had a negative return on equity of 17.08% and a negative net margin of 27.44%.The firm had revenue of $72.66 million for the quarter, compared to the consensus estimate of $71.00 million. On average, equities research analysts anticipate that Chegg will post 0.15 earnings per share for the current year.

Hedge Funds Weigh In On Chegg

A number of hedge funds and other institutional investors have recently made changes to their positions in CHGG. Charles Schwab Investment Management Inc. raised its position in shares of Chegg by 23.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,844,804 shares of the technology company’s stock worth $4,506,000 after acquiring an additional 907,080 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Chegg by 4.4% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,923,979 shares of the technology company’s stock valued at $5,925,000 after purchasing an additional 167,062 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of Chegg by 9.2% during the fourth quarter. Renaissance Technologies LLC now owns 3,335,980 shares of the technology company’s stock worth $3,102,000 after buying an additional 279,890 shares during the period. AQR Capital Management LLC grew its holdings in shares of Chegg by 95.9% during the first quarter. AQR Capital Management LLC now owns 3,011,879 shares of the technology company’s stock valued at $1,925,000 after buying an additional 1,474,640 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in shares of Chegg by 29.1% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,200,962 shares of the technology company’s stock worth $1,117,000 after purchasing an additional 270,785 shares during the period. Institutional investors own 95.18% of the company’s stock.

Chegg Company Profile

Chegg, Inc (NYSE: CHGG) is a leading education technology company headquartered in Santa Clara, California. Originally founded in 2005, Chegg has evolved from a textbook rental service into a comprehensive digital learning platform. Its suite of subscription-based offerings addresses a wide range of academic needs, catering primarily to high school and college students seeking homework help, study resources, and career guidance.

The company’s core services include Chegg Study, which provides step-by-step solutions and expert Q&A support; Chegg Writing, offering plagiarism checks and guided writing assistance; and Chegg Math Solver, a tool for solving mathematical problems with detailed explanations.