Chegg, Inc. (NYSE:CHGG) Receives $2.08 Average PT from Brokerages

Chegg, Inc. (NYSE:CHGG - Get Free Report) has been given a consensus rating of "Reduce" by the eight brokerages that are currently covering the stock, MarketBeat reports. Four research analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $2.08.

Several research firms have recently commented on CHGG. Needham & Company LLC restated a "hold" rating on shares of Chegg in a research report on Tuesday, February 25th. Morgan Stanley reiterated an "underweight" rating and issued a $1.25 price objective (down from $2.00) on shares of Chegg in a research report on Tuesday, January 14th. StockNews.com began coverage on shares of Chegg in a research report on Thursday, April 17th. They issued a "hold" rating on the stock. Piper Sandler cut their price objective on shares of Chegg from $1.50 to $1.00 and set an "underweight" rating on the stock in a research report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. reiterated an "underweight" rating on shares of Chegg in a research report on Tuesday, April 8th.

Chegg Stock Performance

CHGG stock traded up $0.01 during trading on Wednesday, hitting $0.65. 1,459,110 shares of the company's stock traded hands, compared to its average volume of 3,812,640. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.31. Chegg has a 52 week low of $0.44 and a 52 week high of $7.22. The stock has a fifty day moving average price of $0.74 and a two-hundred day moving average price of $1.40. The stock has a market capitalization of $68.38 million, a price-to-earnings ratio of -0.08 and a beta of 1.81.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Caprock Group LLC acquired a new position in shares of Chegg during the fourth quarter valued at approximately $28,000. Pallas Capital Advisors LLC grew its position in Chegg by 60.5% in the fourth quarter. Pallas Capital Advisors LLC now owns 17,659 shares of the technology company's stock worth $28,000 after buying an additional 6,658 shares during the last quarter. Virtus Fund Advisers LLC acquired a new position in Chegg in the fourth quarter worth approximately $28,000. Ieq Capital LLC acquired a new position in Chegg in the fourth quarter worth approximately $31,000. Finally, ProShare Advisors LLC grew its position in Chegg by 51.2% in the fourth 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 during the last quarter. Institutional investors and hedge funds 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.