Chegg, Inc. operates direct-to-student learning platform that supports students starting with their academic journey and extending into their careers with products and services to support and help them better understand their academic course materials. The company offers Chegg Services, which include subscription services; and required materials that comprise its print textbooks and eTextbooks. Its subscription services include Chegg Study, which helps students master challenging concepts on their own; 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 Chegg Services product offerings, including Chegg Study, Chegg Writing, and Chegg Math Solver services, which creates an integrated platform of connected academic support services; Busuu, an online language learning solution that offers a comprehensive solution through a combination of self-paced lessons, live classes with expert tutors, and the ability to learn and practice with members of the Busuu language learning community; and Thinkful, a skills-based learning platform that offers professional courses along with networking, interviewing, and career services. The company also provides other services, such as Chegg Life, Chegg Prep, and Chegg Internships; provides personal and professional development skills training; and rents and sells print textbooks and eTextbooks. Chegg, Inc. was incorporated in 2005 and is headquartered in Santa Clara, California.
Chegg Stock Down 2.7 %
Shares of NYSE:CHGG traded down $0.62 during mid-day trading on Thursday, hitting $22.32. 42,393 shares of the company traded hands, compared to its average volume of 1,783,578. The stock has a market cap of $2.82 billion, a P/E ratio of 76.47, a P/E/G ratio of 5.42 and a beta of 1.10. The company has a current ratio of 10.81, a quick ratio of 8.02 and a debt-to-equity ratio of 2.05. Chegg has a 12-month low of $15.66 and a 12-month high of $87.13. The stock has a 50-day moving average price of $19.79 and a two-hundred day moving average price of $25.03.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on CHGG shares. Barrington Research decreased their target price on Chegg from $40.00 to $25.00 in a research note on Tuesday, May 3rd. William Blair cut Chegg from an "outperform" rating to a "market perform" rating in a research note on Tuesday, May 3rd. Craig Hallum decreased their target price on Chegg from $35.00 to $18.00 in a research note on Tuesday, May 3rd. Piper Sandler decreased their target price on Chegg from $21.00 to $20.00 and set a "neutral" rating for the company in a research note on Monday, July 18th. Finally, Bank of America cut Chegg from a "buy" rating to a "neutral" rating in a research note on Tuesday, May 3rd. Fourteen investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $36.58.