Chegg, Inc. (NYSE:CHGG) Receives Consensus Recommendation of “Hold” from Analysts

Chegg, Inc. (NYSE:CHGG – Get Rating) has earned an average rating of “Hold” from the fifteen analysts that are currently covering the company, MarketBeat reports. Eleven equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $60.88.

Several research analysts have recently weighed in on the stock. StockNews.com assumed coverage on shares of Chegg in a research note on Thursday, March 31st. They set a “hold” rating on the stock. KeyCorp cut shares of Chegg from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, April 12th. Morgan Stanley lifted their price target on shares of Chegg from $35.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 8th. Zacks Investment Research upgraded shares of Chegg from a “sell” rating to a “hold” rating in a research note on Friday, February 11th. Finally, Craig Hallum dropped their price target on shares of Chegg from $50.00 to $35.00 and set a “hold” rating on the stock in a research note on Tuesday, February 8th.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. KRS Capital Management LLC purchased a new position in shares of Chegg in the 4th quarter worth $45,000. Quadrant Capital Group LLC grew its stake in shares of Chegg by 2,703.8% in the 4th quarter. Quadrant Capital Group LLC now owns 1,486 shares of the technology company’s stock worth $46,000 after buying an additional 1,433 shares in the last quarter. Signaturefd LLC grew its stake in shares of Chegg by 501.9% in the 4th quarter. Signaturefd LLC now owns 3,202 shares of the technology company’s stock worth $98,000 after buying an additional 2,670 shares in the last quarter. Stephens Inc. AR grew its stake in shares of Chegg by 14.3% in the 3rd quarter. Stephens Inc. AR now owns 1,699 shares of the technology company’s stock worth $116,000 after buying an additional 212 shares in the last quarter. Finally, CastleArk Alternatives LLC purchased a new position in shares of Chegg in the 3rd quarter worth $147,000. Institutional investors own 87.98% of the company’s stock.

NYSE:CHGG opened at $31.51 on Tuesday. The company’s 50 day moving average price is $32.44 and its 200-day moving average price is $34.87. Chegg has a 52 week low of $23.23 and a 52 week high of $96.94. The company has a quick ratio of 14.19, a current ratio of 14.19 and a debt-to-equity ratio of 1.52. The stock has a market cap of $4.25 billion, a price-to-earnings ratio of -350.07, a PEG ratio of 2.98 and a beta of 0.92.

Chegg (NYSE:CHGG – Get Rating) last posted its quarterly earnings results on Monday, February 7th. The technology company reported $0.19 EPS for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.06. Chegg had a negative net margin of 0.19% and a positive return on equity of 8.17%. The firm had revenue of $207.47 million for the quarter, compared to analysts’ expectations of $195.20 million. During the same quarter in the prior year, the company posted $0.37 earnings per share. The business’s revenue for the quarter was up .8% on a year-over-year basis. As a group, sell-side analysts anticipate that Chegg will post 0.44 earnings per share for the current year.

About Chegg (Get Rating)

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.

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