Chegg (NYSE:CHGG) Stock Rating Reaffirmed by Craig Hallum

Chegg (NYSE:CHGG)‘s stock had its “hold” rating reaffirmed by analysts at Craig Hallum in a note issued to investors on Tuesday, Marketbeat reports. They presently have a $7.00 price objective on the technology company’s stock, down from their previous price objective of $13.00. Craig Hallum’s price target suggests a potential upside of 30.11% from the company’s previous close.

Several other brokerages have also recently weighed in on CHGG. Jefferies Financial Group cut Chegg from a “hold” rating to an “underperform” rating and decreased their price target for the company from $7.00 to $4.00 in a research note on Tuesday. BMO Capital Markets cut their target price on Chegg from $11.00 to $10.00 and set a “market perform” rating on the stock in a research report on Tuesday, February 6th. JPMorgan Chase & Co. cut their target price on Chegg from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 6th. The Goldman Sachs Group cut their target price on Chegg from $8.00 to $7.00 and set a “sell” rating on the stock in a research report on Tuesday, February 6th. Finally, Piper Sandler Companies lowered Chegg to an “underweight” rating and cut their target price for the company from $9.00 to $8.50 in a research report on Tuesday, February 6th. Five research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $7.72.

Chegg Price Performance

Shares of CHGG opened at $5.38 on Tuesday. Chegg has a 12-month low of $4.96 and a 12-month high of $13.11. The business has a 50-day simple moving average of $7.60 and a two-hundred day simple moving average of $9.04. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.26. The stock has a market cap of $546.45 million, a PE ratio of -28.32, a PEG ratio of 1.39 and a beta of 1.26.

Chegg (NYSE:CHGG) last issued its earnings results on Monday, February 5th. The technology company reported $0.36 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.36. The business had revenue of $187.99 million during the quarter, compared to analysts’ expectations of $185.94 million. Chegg had a return on equity of 0.86% and a net margin of 2.07%. The business’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.16 EPS. Analysts anticipate that Chegg will post 0.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC raised its stake in shares of Chegg by 2.6% in the third quarter. Commonwealth Equity Services LLC now owns 70,415 shares of the technology company’s stock worth $628,000 after purchasing an additional 1,768 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Chegg by 4.5% in the fourth quarter. SG Americas Securities LLC now owns 51,205 shares of the technology company’s stock worth $582,000 after purchasing an additional 2,216 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in shares of Chegg by 6.4% in the fourth quarter. Daiwa Securities Group Inc. now owns 41,595 shares of the technology company’s stock worth $473,000 after purchasing an additional 2,500 shares during the last quarter. GHE LLC raised its stake in shares of Chegg by 5.3% in the third quarter. GHE LLC now owns 50,517 shares of the technology company’s stock worth $451,000 after purchasing an additional 2,548 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Chegg by 5.3% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 51,276 shares of the technology company’s stock worth $457,000 after purchasing an additional 2,600 shares during the last quarter. 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.