Chegg, Inc. (NYSE:CHGG) Receives $1.70 Consensus Target Price from Brokerages

Chegg, Inc. (NYSE:CHGG - Get Free Report) has earned an average recommendation of "Reduce" from the seven brokerages that are presently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $1.70.

Several brokerages recently weighed in on CHGG. Wall Street Zen began coverage on Chegg in a research report on Thursday, April 17th. They set a "hold" rating for the company. Needham & Company LLC reiterated a "hold" rating on shares of Chegg in a research report on Monday, May 12th. Piper Sandler reduced their price target on Chegg from $1.50 to $1.00 and set an "underweight" rating for the company 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 down $0.01 during trading on Friday, hitting $0.99. 2,908,140 shares of the company traded hands, compared to its average volume of 3,654,830. The stock's 50-day simple moving average is $0.67 and its 200 day simple moving average is $1.29. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market cap of $104.97 million, a PE ratio of -0.12 and a beta of 1.75. Chegg has a 1 year low of $0.44 and a 1 year high of $3.92.

Institutional Trading of Chegg

Institutional investors have recently bought and sold shares of the business. Susquehanna Fundamental Investments LLC acquired a new stake in Chegg in the fourth quarter valued at approximately $559,000. Arrowstreet Capital Limited Partnership grew its holdings in Chegg by 247.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,464,022 shares of the technology company's stock valued at $2,357,000 after purchasing an additional 1,042,136 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Chegg by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 934,160 shares of the technology company's stock valued at $1,504,000 after purchasing an additional 22,827 shares during the period. Knightsbridge Asset Management LLC acquired a new stake in shares of Chegg in the fourth quarter worth approximately $2,055,000. Finally, Vanguard Group Inc. boosted its stake in shares of Chegg by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 9,765,268 shares of the technology company's stock worth $15,722,000 after acquiring an additional 180,258 shares during the last quarter. 95.18% of the stock is owned by institutional investors and hedge funds.

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.