Analysts Set Chegg, Inc. (NYSE:CHGG) PT at $1.70

Key Points

• Chegg, Inc. has received a consensus rating of "Reduce" from analysts, with three sell recommendations, four holds, and one strong buy.
• The average 12-month price target for Chegg's stock is $1.70, reflecting caution among analysts about the company's future performance.
• Institutional investors own 95.18% of Chegg's stock, with recent investments from several hedge funds, indicating continued interest despite its low stock price.

Chegg, Inc. (NYSE:CHGG - Get Free Report) has received a consensus rating of "Reduce" from the eight research firms that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $1.70.

Separately, Zacks Research raised Chegg from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 13th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. ProShare Advisors LLC boosted its holdings in Chegg by 51.2% in the fourth 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. Spectrum Wealth Advisory Group LLC increased its position in shares of Chegg by 36.8% during the second quarter. Spectrum Wealth Advisory Group LLC now owns 48,370 shares of the technology company's stock valued at $59,000 after acquiring an additional 13,000 shares during the last quarter. CWM LLC increased its position in Chegg by 56.2% in the second quarter. CWM LLC now owns 41,022 shares of the technology company's stock worth $50,000 after buying an additional 14,758 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Chegg by 101.5% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 30,861 shares of the technology company's stock worth $37,000 after buying an additional 15,549 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Chegg by 53.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 47,333 shares of the technology company's stock worth $57,000 after acquiring an additional 16,430 shares during the period. Institutional investors own 95.18% of the company's stock.

Chegg Trading Down 0.9%

CHGG traded down $0.02 on Friday, reaching $1.67. The stock had a trading volume of 5,129,447 shares, compared to its average volume of 4,428,851. Chegg has a fifty-two week low of $0.44 and a fifty-two week high of $2.73. The firm has a 50-day moving average of $1.39 and a 200-day moving average of $1.09. The company has a market capitalization of $180.37 million, a price-to-earnings ratio of -0.64 and a beta of 1.85.

About Chegg

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.