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

Shares of Chegg, Inc. (NYSE:CHGG - Get Free Report) have been assigned an average rating of "Reduce" from the seven analysts that are currently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $1.70.

Several research firms have recently weighed in on CHGG. Piper Sandler dropped their price target on shares of Chegg from $1.50 to $1.00 and set an "underweight" rating for the company in a research note on Tuesday, February 25th. Needham & Company LLC reiterated a "hold" rating on shares of Chegg in a report on Monday, May 12th. JPMorgan Chase & Co. reissued an "underweight" rating on shares of Chegg in a research note on Tuesday, April 8th. Finally, Wall Street Zen began coverage on Chegg in a research report on Thursday, April 17th. They issued a "hold" rating on the stock.

Chegg Trading Down 7.8%

Shares of CHGG stock traded down $0.12 on Thursday, hitting $1.36. 4,119,530 shares of the stock traded hands, compared to its average volume of 3,768,807. 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 has a twelve month low of $0.44 and a twelve month high of $3.81. The firm's 50-day moving average price is $0.86 and its two-hundred day moving average price is $1.23. The stock has a market capitalization of $144.40 million, a PE ratio of -0.17 and a beta of 1.78.

Institutional Trading of Chegg

Several institutional investors have recently added to or reduced their stakes in CHGG. Virtus Fund Advisers LLC purchased a new position in shares of Chegg during the fourth quarter worth $28,000. Ieq Capital LLC purchased a new stake in shares of Chegg in the 4th quarter valued at $31,000. ProShare Advisors LLC lifted its stake in 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 acquiring an additional 9,600 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in Chegg by 107.5% during the 4th quarter. MetLife Investment Management LLC now owns 36,967 shares of the technology company's stock valued at $60,000 after acquiring an additional 19,153 shares during the period. Finally, Intech Investment Management LLC boosted its holdings in Chegg by 30.1% during the 4th quarter. Intech Investment Management LLC now owns 41,164 shares of the technology company's stock valued at $66,000 after acquiring an additional 9,514 shares during the period. 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.