Chegg (NYSE:CHGG) Receives "Hold" Rating from Needham & Company LLC

Chegg (NYSE:CHGG - Get Free Report)'s stock had its "hold" rating reiterated by investment analysts at Needham & Company LLC in a note issued to investors on Monday,Benzinga reports.

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

Chegg Stock Performance

CHGG traded up $0.03 during midday trading on Monday, reaching $0.72. The company had a trading volume of 3,947,134 shares, compared to its average volume of 2,969,323. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market cap of $75.98 million, a PE ratio of -0.09 and a beta of 1.75. Chegg has a 12-month low of $0.44 and a 12-month high of $4.84. The business has a 50-day moving average price of $0.66 and a two-hundred day moving average price of $1.34.

Institutional Trading of Chegg

Several institutional investors have recently modified their holdings of CHGG. Virtus Fund Advisers LLC purchased a new stake in Chegg during the 4th quarter valued at about $28,000. Caprock Group LLC purchased a new stake in Chegg during the 4th quarter valued at about $28,000. Pallas Capital Advisors LLC grew its stake in shares of Chegg by 60.5% in the 4th quarter. Pallas Capital Advisors LLC now owns 17,659 shares of the technology company's stock valued at $28,000 after buying an additional 6,658 shares during the period. Ieq Capital LLC purchased a new stake in shares of Chegg in the 4th quarter valued at approximately $31,000. Finally, ProShare Advisors LLC grew its stake 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 valued at $46,000 after buying an additional 9,600 shares during the period. Institutional investors and hedge funds 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.

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