Analysts Set Chegg, Inc. (NYSE:CHGG) Price Target at $2.08

Shares of Chegg, Inc. (NYSE:CHGG) have been assigned an average recommendation of “Reduce” from the seven ratings firms that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a sell rating and four have issued a hold rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $2.08.

Several brokerages recently issued reports on CHGG. The Goldman Sachs Group decreased their price target on Chegg from $3.75 to $1.75 and set a “neutral” rating for the company in a report on Thursday, November 14th. Morgan Stanley reiterated an “underweight” rating and set a $1.25 price target (down previously from $2.00) on shares of Chegg in a report on Tuesday, January 14th. Piper Sandler cut their price objective on Chegg from $1.50 to $1.00 and set an “underweight” rating on the stock in a research report on Tuesday, February 25th. Northland Securities cut their price objective on Chegg from $4.00 to $3.00 and set a “market perform” rating on the stock in a research report on Wednesday, November 13th. Finally, Craig Hallum cut their price objective on Chegg from $3.00 to $1.50 and set a “hold” rating on the stock in a research report on Wednesday, November 13th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Chegg by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 9,765,268 shares of the technology company’s stock valued at $15,722,000 after buying an additional 180,258 shares during the last quarter. Quinn Opportunity Partners LLC lifted its position in shares of Chegg by 48.6% during the 4th quarter. Quinn Opportunity Partners LLC now owns 2,879,937 shares of the technology company’s stock valued at $4,637,000 after buying an additional 941,410 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Chegg by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,315,187 shares of the technology company’s stock valued at $4,099,000 after buying an additional 26,574 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of Chegg by 6.8% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 2,307,264 shares of the technology company’s stock valued at $3,715,000 after buying an additional 147,441 shares during the last quarter. Finally, Two Sigma Investments LP lifted its position in shares of Chegg by 8.2% during the 4th quarter. Two Sigma Investments LP now owns 2,254,234 shares of the technology company’s stock valued at $3,629,000 after buying an additional 170,077 shares during the last quarter. Hedge funds and other institutional investors own 95.18% of the company’s stock.

Chegg Trading Up 1.8 %

Shares of Chegg stock opened at $0.87 on Tuesday. The stock has a fifty day simple moving average of $1.44 and a 200 day simple moving average of $1.73. Chegg has a 12-month low of $0.80 and a 12-month high of $8.41. The company has a market capitalization of $91.76 million, a P/E ratio of -0.11 and a beta of 1.52. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.31.

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.