Recent Research Analysts’ Ratings Changes for Chegg (CHGG)

A number of research firms have changed their ratings and price targets for Chegg (NYSE: CHGG):

• 11/14/2024 – Chegg had its price target lowered by analysts at Piper Sandler from $2.00 to $1.50. They now have an “underweight” rating on the stock.
• 11/14/2024 – Chegg had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $3.75 to $1.75. They now have a “neutral” rating on the stock.
• 11/13/2024 – Chegg had its price target lowered by analysts at Northland Securities from $4.00 to $3.00. They now have a “market perform” rating on the stock.
• 11/13/2024 – Chegg had its price target lowered by analysts at Craig Hallum from $3.00 to $1.50. They now have a “hold” rating on the stock.
• 11/13/2024 – Chegg had its “hold” rating reaffirmed by analysts at Needham & Company LLC.
• 10/21/2024 – Chegg had its price target lowered by analysts at Northland Securities from $6.00 to $4.00. They now have a “market perform” rating on the stock.

Chegg Trading Up 0.9 %

NYSE:CHGG traded up $0.02 during trading hours on Wednesday, reaching $2.26. The company’s stock had a trading volume of 1,377,958 shares, compared to its average volume of 3,636,338. The firm has a market capitalization of $235.74 million, a price-to-earnings ratio of -0.28, a PEG ratio of 1.24 and a beta of 1.32. The firm has a 50-day simple moving average of $1.71 and a 200-day simple moving average of $2.51. Chegg, Inc. has a 1 year low of $1.34 and a 1 year 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 issued its earnings results on Tuesday, November 12th. The technology company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. The company had revenue of $136.59 million for the quarter, compared to analysts’ expectations of $134.12 million. Chegg had a negative net margin of 124.05% and a positive return on equity of 2.36%. The firm’s revenue was down 13.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.07) EPS. Research analysts expect that Chegg, Inc. will post 0.12 EPS for the current fiscal year.

Hedge Funds Weigh In On Chegg

A number of hedge funds have recently modified their holdings of CHGG. Virtu Financial LLC bought a new stake in shares of Chegg during the 3rd quarter valued at about $130,000. Geode Capital Management LLC boosted its stake 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 purchasing an additional 26,574 shares in the last quarter. XTX Topco Ltd boosted its stake in shares of Chegg by 384.4% during the 3rd quarter. XTX Topco Ltd now owns 394,152 shares of the technology company’s stock valued at $698,000 after purchasing an additional 312,780 shares in the last quarter. Quadrature Capital Ltd boosted its stake in shares of Chegg by 85.6% during the 3rd quarter. Quadrature Capital Ltd now owns 112,423 shares of the technology company’s stock valued at $200,000 after purchasing an additional 51,837 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of Chegg by 272.2% during the 3rd 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 in the last quarter. Hedge funds and other institutional investors own 95.18% of the company’s stock.

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.