Chegg, Inc. (NYSE:CHGG) Receives $1.70 Average PT from Analysts

Chegg, Inc. (NYSE:CHGG - Get Free Report) has been assigned a consensus recommendation of "Reduce" from the seven ratings firms that are covering the company, Marketbeat.com reports. Three investment 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 updated their coverage on the stock in the last year is $1.70.

CHGG has been the topic of several analyst reports. Piper Sandler cut their target price on Chegg from $1.50 to $1.00 and set an "underweight" rating on the stock in a research note on Tuesday, February 25th. Wall Street Zen started coverage on shares of Chegg in a research note on Thursday, April 17th. They issued a "hold" rating for the company. JPMorgan Chase & Co. reaffirmed an "underweight" rating on shares of Chegg in a research note on Tuesday, April 8th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Chegg in a report on Monday, May 12th.

Chegg Trading Down 6.7%

NYSE:CHGG traded down $0.11 during midday trading on Thursday, hitting $1.47. 4,061,192 shares of the company traded hands, compared to its average volume of 3,793,619. The firm has a market capitalization of $156.13 million, a P/E ratio of -0.18 and a beta of 1.78. The firm's fifty day moving average is $0.82 and its 200-day moving average is $1.25. Chegg has a 12-month low of $0.44 and a 12-month high of $3.81. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.31.

Hedge Funds Weigh In On Chegg

Several large investors have recently modified their holdings of the business. Virtus Fund Advisers LLC purchased a new position in Chegg during the 4th quarter valued at about $28,000. Quantbot Technologies LP purchased a new position in Chegg in the 1st quarter valued at $28,000. Cerity Partners LLC raised its holdings in Chegg by 226.6% during the first quarter. Cerity Partners LLC now owns 45,208 shares of the technology company's stock worth $29,000 after purchasing an additional 31,366 shares in the last quarter. Ieq Capital LLC purchased a new stake in shares of Chegg in the fourth quarter valued at approximately $31,000. Finally, CW Advisors LLC acquired a new position in shares of Chegg during the 1st quarter worth $32,000. 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.