Chegg, Inc. (NYSE:CHGG) Receives Average Rating of "Reduce" from Brokerages

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

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CHGG. Wealth Enhancement Advisory Services LLC grew its position in Chegg by 101.5% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 30,861 shares of the technology company's stock valued at $37,000 after acquiring an additional 15,549 shares during the last quarter. Strs Ohio bought a new position in Chegg during the first quarter valued at approximately $56,000. Acadian Asset Management LLC grew its position in Chegg by 11.2% during the first quarter. Acadian Asset Management LLC now owns 4,175,681 shares of the technology company's stock valued at $2,664,000 after acquiring an additional 421,796 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of Chegg by 8.5% in the first quarter. Empowered Funds LLC now owns 424,563 shares of the technology company's stock worth $271,000 after purchasing an additional 33,269 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of Chegg by 95.9% in the first quarter. AQR Capital Management LLC now owns 3,011,879 shares of the technology company's stock worth $1,925,000 after purchasing an additional 1,474,640 shares during the last quarter. 95.18% of the stock is currently owned by institutional investors.

Chegg Stock Down 1.9%

CHGG stock traded down $0.03 during trading on Monday, reaching $1.31. 1,262,522 shares of the stock were exchanged, compared to its average volume of 3,702,188. The firm has a market cap of $139.07 million, a P/E ratio of -0.16 and a beta of 1.82. Chegg has a twelve month low of $0.44 and a twelve month high of $3.81. The firm's 50 day moving average is $1.16 and its 200 day moving average is $1.12. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.34.

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.