Chegg, Inc. (NYSE:CHGG) Receives $4.69 Consensus Target Price from Analysts

Chegg, Inc. (NYSE:CHGG) has received a consensus recommendation 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 assigned a hold recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $4.69.

A number of brokerages have issued reports on CHGG. Needham & Company LLC reaffirmed a “hold” rating on shares of Chegg in a report on Wednesday, November 13th. Craig Hallum decreased their target price on Chegg from $3.00 to $1.50 and set a “hold” rating for the company in a research note on Wednesday, November 13th. Northland Securities dropped their price target on shares of Chegg from $4.00 to $3.00 and set a “market perform” rating on the stock in a research note on Wednesday, November 13th. The Goldman Sachs Group reduced their price objective on shares of Chegg from $3.75 to $1.75 and set a “neutral” rating for the company in a research report on Thursday, November 14th. Finally, Morgan Stanley dropped their target price on shares of Chegg from $3.25 to $3.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 6th.

Chegg Stock Up 2.7 %

CHGG stock opened at $2.30 on Friday. The company’s 50 day moving average price is $1.72 and its 200 day moving average price is $2.51. The firm has a market capitalization of $239.91 million, a price-to-earnings ratio of -0.29, a PEG ratio of 1.24 and a beta of 1.32. Chegg has a fifty-two week low of $1.34 and a fifty-two week high of $11.48. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.91 and a current ratio of 0.91.

Chegg (NYSE:CHGG) last announced its quarterly earnings data on Tuesday, November 12th. The technology company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. The company had revenue of $136.59 million for the quarter, compared to the consensus estimate of $134.12 million. Chegg had a negative net margin of 124.05% and a positive return on equity of 2.36%. The company’s quarterly revenue was down 13.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.07) EPS. On average, equities research analysts anticipate that Chegg will post 0.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CHGG. Gladius Capital Management LP purchased a new position in shares of Chegg during the second quarter worth about $27,000. Adero Partners LLC purchased a new position in shares of Chegg in the 2nd quarter valued at approximately $34,000. Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of Chegg by 272.2% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 25,051 shares of the technology company’s stock valued at $44,000 after purchasing an additional 18,320 shares during the period. Intech Investment Management LLC purchased a new stake in shares of Chegg during the third quarter worth approximately $56,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Chegg during the second quarter worth $60,000. 95.18% of the stock is currently owned by institutional investors and hedge funds.

About Chegg

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.