Analysts Set Chegg, Inc. (NYSE:CHGG) Target Price at $4.69

Shares of Chegg, Inc. (NYSE:CHGG) have earned a consensus rating of “Reduce” from the ten analysts that are covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $4.69.

A number of brokerages have issued reports on CHGG. StockNews.com lowered shares of Chegg from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. The Goldman Sachs Group cut their target price on shares of Chegg from $3.75 to $1.75 and set a “neutral” rating for the company in a research note on Thursday, November 14th. Piper Sandler reduced their price target on shares of Chegg from $2.00 to $1.50 and set an “underweight” rating on the stock in a report on Thursday, November 14th. Northland Securities dropped their price objective on shares of Chegg from $4.00 to $3.00 and set a “market perform” rating for the company in a report on Wednesday, November 13th. Finally, Craig Hallum cut their price objective on Chegg from $3.00 to $1.50 and set a “hold” rating for the company in a research report on Wednesday, November 13th.

Chegg Stock Down 1.1 %

CHGG opened at $2.24 on Friday. The stock has a market cap of $233.13 million, a price-to-earnings ratio of -0.28, a price-to-earnings-growth ratio of 1.30 and a beta of 1.32. 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 firm’s fifty day moving average is $1.70 and its 200 day moving average is $2.53. Chegg has a fifty-two week low of $1.34 and a fifty-two week high of $11.48.

Chegg (NYSE:CHGG) last announced its quarterly earnings data on Tuesday, November 12th. The technology company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.06 by $0.03. The business had revenue of $136.59 million for the quarter, compared to the consensus estimate of $134.12 million. Chegg had a positive return on equity of 2.36% and a negative net margin of 124.05%. The business’s revenue was down 13.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.07) earnings per share. On average, sell-side analysts forecast that Chegg will post 0.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Chegg

Several large investors have recently modified their holdings of CHGG. Dimensional Fund Advisors LP lifted its position in shares of Chegg by 10.4% during the second quarter. Dimensional Fund Advisors LP now owns 4,585,055 shares of the technology company’s stock worth $14,488,000 after purchasing an additional 433,709 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Chegg by 284.9% in the 2nd quarter. AQR Capital Management LLC now owns 2,878,869 shares of the technology company’s stock valued at $8,694,000 after buying an additional 2,130,998 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of Chegg by 4.0% during the first quarter. Jacobs Levy Equity Management Inc. now owns 2,747,406 shares of the technology company’s stock worth $20,798,000 after purchasing an additional 105,511 shares in the last quarter. Geode Capital Management LLC increased its position in Chegg by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,315,187 shares of the technology company’s stock valued at $4,099,000 after buying an additional 26,574 shares in the last quarter. Finally, Millennium Management LLC raised its position in shares of Chegg by 158.4% in the 2nd quarter. Millennium Management LLC now owns 2,221,344 shares of the technology company’s stock valued at $7,019,000 after purchasing an additional 1,361,710 shares during the last quarter. Institutional investors own 95.18% of the company’s stock.

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.