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

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

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

Chegg Trading Up 2.1%

NYSE:CHGG traded up $0.03 during midday trading on Monday, hitting $1.37. The stock had a trading volume of 1,623,011 shares, compared to its average volume of 3,711,099. Chegg has a one year low of $0.44 and a one year high of $3.81. The company has a market capitalization of $145.87 million, a price-to-earnings ratio of -0.17 and a beta of 1.82. The stock has a 50-day moving average of $1.13 and a 200 day moving average of $1.12. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.34.

Hedge Funds Weigh In On Chegg

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Intech Investment Management LLC boosted its position in shares of Chegg by 30.1% in the 4th quarter. Intech Investment Management LLC now owns 41,164 shares of the technology company's stock worth $66,000 after purchasing an additional 9,514 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of Chegg by 51.2% in the 4th quarter. ProShare Advisors LLC now owns 28,360 shares of the technology company's stock worth $46,000 after purchasing an additional 9,600 shares in the last quarter. Hsbc Holdings PLC boosted its position in shares of Chegg by 41.8% in the 4th quarter. Hsbc Holdings PLC now owns 50,206 shares of the technology company's stock worth $81,000 after purchasing an additional 14,801 shares in the last quarter. Virtus Fund Advisers LLC acquired a new stake in shares of Chegg in the 4th quarter worth $28,000. Finally, MetLife Investment Management LLC boosted its position in shares of Chegg by 107.5% in the 4th quarter. MetLife Investment Management LLC now owns 36,967 shares of the technology company's stock worth $60,000 after purchasing an additional 19,153 shares in the last quarter. Hedge funds and other institutional investors 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.