Chegg's (CHGG) Hold Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Chegg (NYSE:CHGG - Free Report) in a research report released on Monday,Benzinga reports.

A number of other analysts have also weighed in on the stock. JPMorgan Chase & Co. reaffirmed an "underweight" rating on shares of Chegg in a report on Tuesday, April 8th. Morgan Stanley reaffirmed an "underweight" rating and issued a $1.25 price target (down previously from $2.00) on shares of Chegg in a report on Tuesday, January 14th. StockNews.com started coverage on Chegg in a research note on Thursday, April 17th. They set a "hold" rating for the company. Finally, Piper Sandler lowered their target price on shares of Chegg from $1.50 to $1.00 and set an "underweight" rating on the stock in a research note on Tuesday, February 25th. Three investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $1.70.

Chegg Price Performance

CHGG stock traded up $0.08 during mid-day trading on Monday, reaching $0.90. 2,380,597 shares of the company traded hands, compared to its average volume of 3,676,285. The company has a fifty day moving average price of $0.65 and a 200-day moving average price of $1.32. Chegg has a 52-week low of $0.44 and a 52-week high of $4.56. The company has a market capitalization of $95.59 million, a P/E ratio of -0.11 and a beta of 1.75. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.91 and a quick ratio of 0.91.

Institutional Investors Weigh In On Chegg

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Caprock Group LLC purchased a new position in Chegg during the 4th quarter valued at about $28,000. Pallas Capital Advisors LLC raised its holdings in shares of Chegg by 60.5% during the fourth quarter. Pallas Capital Advisors LLC now owns 17,659 shares of the technology company's stock valued at $28,000 after acquiring an additional 6,658 shares in the last quarter. Virtus Fund Advisers LLC purchased a new stake in shares of Chegg in the 4th quarter worth about $28,000. Quantbot Technologies LP purchased a new stake in Chegg in the first quarter worth about $28,000. Finally, Cerity Partners LLC lifted its holdings in Chegg by 226.6% in the first quarter. Cerity Partners LLC now owns 45,208 shares of the technology company's stock worth $29,000 after buying an additional 31,366 shares during the period. 95.18% of the stock is currently owned by 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.