Chegg (NYSE:CHGG) Hits New 12-Month Low at $6.95

Chegg, Inc. (NYSE:CHGG - Get Free Report) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $6.95 and last traded at $6.96, with a volume of 275669 shares trading hands. The stock had previously closed at $7.15.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CHGG. StockNews.com upgraded shares of Chegg from a "hold" rating to a "buy" rating in a research note on Tuesday, January 23rd. Piper Sandler Companies downgraded shares of Chegg to an "underweight" rating and lowered their target price for the company from $9.00 to $8.50 in a research note on Tuesday, February 6th. BMO Capital Markets lowered their target price on shares of Chegg from $11.00 to $10.00 and set a "market perform" rating for the company in a research note on Tuesday, February 6th. JPMorgan Chase & Co. lowered their target price on shares of Chegg from $10.00 to $9.00 and set a "neutral" rating for the company in a research note on Tuesday, February 6th. Finally, Piper Sandler downgraded shares of Chegg from a "neutral" rating to an "underweight" rating and lowered their target price for the company from $9.00 to $8.50 in a research note on Tuesday, February 6th. Four analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $10.22.

Chegg Stock Down 4.1 %

The company has a market capitalization of $706.24 million, a price-to-earnings ratio of -42.88, a P/E/G ratio of 1.39 and a beta of 1.26. The business's 50-day moving average is $8.12 and its 200-day moving average is $9.19. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.26.

Chegg (NYSE:CHGG - Get Free Report) last posted its earnings results on Monday, February 5th. The technology company reported $0.36 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.36. The company had revenue of $187.99 million during the quarter, compared to the consensus estimate of $185.94 million. Chegg had a net margin of 2.54% and a return on equity of 1.27%. The firm's quarterly revenue was down 8.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.16 earnings per share. As a group, equities analysts predict that Chegg, Inc. will post 0.26 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC raised its position in shares of Chegg by 185.5% in the third quarter. Acadian Asset Management LLC now owns 294,208 shares of the technology company's stock worth $2,621,000 after acquiring an additional 191,165 shares during the period. Trexquant Investment LP acquired a new position in shares of Chegg in the third quarter worth about $3,907,000. AQR Capital Management LLC raised its position in shares of Chegg by 75.4% in the third quarter. AQR Capital Management LLC now owns 693,676 shares of the technology company's stock worth $6,188,000 after acquiring an additional 298,194 shares during the period. Graham Capital Management L.P. raised its position in shares of Chegg by 28.2% in the third quarter. Graham Capital Management L.P. now owns 126,457 shares of the technology company's stock worth $1,128,000 after acquiring an additional 27,813 shares during the period. Finally, Hsbc Holdings PLC raised its position in shares of Chegg by 114.4% in the third quarter. Hsbc Holdings PLC now owns 262,562 shares of the technology company's stock worth $2,347,000 after acquiring an additional 140,113 shares during the period. 95.18% of the stock is currently owned by institutional investors and hedge funds.

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.