Chegg, Inc. (NYSE:CHGG) Given Consensus Rating of “Reduce” by Analysts

Shares of Chegg, Inc. (NYSE:CHGG) have earned a consensus recommendation of “Reduce” from the ten ratings firms that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation and seven have given a hold recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $5.47.

A number of equities research analysts have recently commented on the company. Piper Sandler cut their target price on Chegg from $6.00 to $2.00 and set an “underweight” rating on the stock in a research note on Tuesday, August 6th. Needham & Company LLC restated a “hold” rating on shares of Chegg in a research note on Tuesday, August 6th. StockNews.com downgraded shares of Chegg from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Jefferies Financial Group downgraded shares of Chegg from a “hold” rating to an “underperform” rating and reduced their price target for the company from $7.00 to $4.00 in a research report on Tuesday, April 30th. Finally, The Goldman Sachs Group raised Chegg from a “sell” rating to a “neutral” rating and lowered their price objective for the company from $7.00 to $3.75 in a research report on Tuesday, August 6th.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Daiwa Securities Group Inc. grew its stake in shares of Chegg by 6.4% during the 4th quarter. Daiwa Securities Group Inc. now owns 41,595 shares of the technology company’s stock valued at $473,000 after purchasing an additional 2,500 shares during the period. Banco Santander S.A. grew its position in Chegg by 3.8% during the first quarter. Banco Santander S.A. now owns 101,773 shares of the technology company’s stock valued at $770,000 after buying an additional 3,760 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in Chegg during the first quarter valued at approximately $30,000. Headlands Technologies LLC bought a new position in Chegg in the fourth quarter worth approximately $48,000. Finally, Vontobel Holding Ltd. boosted its stake in shares of Chegg by 8.3% during the 4th quarter. Vontobel Holding Ltd. now owns 55,128 shares of the technology company’s stock worth $626,000 after acquiring an additional 4,240 shares during the last quarter. Institutional investors own 95.18% of the company’s stock.

Chegg Trading Down 6.3 %

Shares of NYSE CHGG opened at $2.15 on Friday. Chegg has a 1 year low of $1.95 and a 1 year high of $11.48. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a 50-day moving average of $2.83 and a 200 day moving average of $5.31. The stock has a market cap of $219.26 million, a P/E ratio of -11.29, a price-to-earnings-growth ratio of 0.56 and a beta of 1.35.

Chegg (NYSE:CHGG) last released its earnings results on Monday, August 5th. The technology company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.03. The firm had revenue of $163.10 million during the quarter, compared to analyst estimates of $160.02 million. Chegg had a net margin of 2.07% and a return on equity of 0.87%. The business’s revenue was down 10.8% on a year-over-year basis. During the same period last year, the business earned $0.01 earnings per share. As a group, sell-side analysts expect that Chegg will post 0.28 EPS for the current fiscal year.

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.