Chegg, Inc. (NYSE:CHGG) Given Average Recommendation of "Reduce" by Brokerages

Key Points

• Chegg, Inc. has received a consensus recommendation of "Reduce" from brokerages, with three analysts rating the stock as a sell and four as a hold.
• The average one-year price target set by these brokerages for Chegg is $1.70, indicating potential downside from current levels.
• Chegg's shares are currently trading at $1.29, reflecting a 4.8% decline, and the company holds a market capitalization of $136.94 million.

Shares of Chegg, Inc. (NYSE:CHGG - Get Free Report) have been given a consensus recommendation of "Reduce" by the seven brokerages that are currently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $1.70.

Several research analysts have weighed in on the company. Needham & Company LLC reaffirmed a "hold" rating on shares of Chegg in a research report on Monday, May 12th. JPMorgan Chase & Co. reiterated an "underweight" rating on shares of Chegg in a research note on Tuesday, April 8th. Finally, Wall Street Zen initiated coverage on Chegg in a research note on Thursday, April 17th. They set a "hold" rating for the company.

Institutional Trading of Chegg

Large investors have recently modified their holdings of the stock. Virtus Fund Advisers LLC acquired a new stake in shares of Chegg during the 4th quarter worth $28,000. Ground Swell Capital LLC acquired a new stake in shares of Chegg during the 2nd quarter worth $27,000. ProShare Advisors LLC raised its holdings in shares of Chegg by 51.2% during the 4th quarter. ProShare Advisors LLC now owns 28,360 shares of the technology company's stock worth $46,000 after buying an additional 9,600 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Chegg by 101.5% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 30,861 shares of the technology company's stock worth $37,000 after buying an additional 15,549 shares in the last quarter. Finally, MetLife Investment Management LLC raised its holdings in shares of Chegg by 107.5% during the 4th quarter. MetLife Investment Management LLC now owns 36,967 shares of the technology company's stock worth $60,000 after buying an additional 19,153 shares in the last quarter. 95.18% of the stock is owned by institutional investors and hedge funds.

Chegg Stock Down 1.5%

Shares of NYSE:CHGG traded down $0.02 during trading on Friday, hitting $1.29. 2,005,420 shares of the company were exchanged, compared to its average volume of 2,462,206. The stock has a market cap of $137.48 million, a price-to-earnings ratio of -0.16 and a beta of 1.77. Chegg has a fifty-two week low of $0.44 and a fifty-two week high of $3.08. The firm has a fifty day moving average price of $1.35 and a two-hundred day moving average price of $1.10. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.34.

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.