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

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 earned an average rating of "Reduce" from the eight brokerages that are presently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report 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.

Chegg Trading Down 1.9%

CHGG stock traded down $0.04 during trading hours on Friday, hitting $1.81. 379,029 shares of the stock were exchanged, compared to its average volume of 3,431,195. The firm has a market capitalization of $195.54 million, a P/E ratio of -0.69 and a beta of 1.85. Chegg has a 12 month low of $0.44 and a 12 month high of $2.73. The company has a 50-day simple moving average of $1.40 and a two-hundred day simple moving average of $1.10.

Institutional Trading of Chegg

Several institutional investors have recently added to or reduced their stakes in the business. ProShare Advisors LLC grew its position 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 purchasing an additional 9,600 shares during the period. Spectrum Wealth Advisory Group LLC raised its position in shares of Chegg by 36.8% during the 2nd quarter. Spectrum Wealth Advisory Group LLC now owns 48,370 shares of the technology company's stock valued at $59,000 after buying an additional 13,000 shares during the period. CWM LLC raised its position in shares of Chegg by 56.2% during the 2nd quarter. CWM LLC now owns 41,022 shares of the technology company's stock valued at $50,000 after buying an additional 14,758 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Chegg by 101.5% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 30,861 shares of the technology company's stock valued at $37,000 after buying an additional 15,549 shares during the period. Finally, Vanguard Personalized Indexing Management LLC raised its position in shares of Chegg by 53.2% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 47,333 shares of the technology company's stock valued at $57,000 after buying an additional 16,430 shares during the period. 95.18% of the stock is currently owned by hedge funds and other institutional investors.

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.