Chegg, Inc. (NYSE:CHGG) Given Consensus Recommendation of “Hold” by Brokerages

Chegg, Inc. (NYSE:CHGGGet Rating) has received a consensus rating of “Hold” from the sixteen brokerages that are covering the stock, Marketbeat Ratings reports. Nine analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $29.75.

Several equities analysts have issued reports on the company. Morgan Stanley dropped their target price on Chegg from $37.00 to $20.00 in a research report on Tuesday, May 3rd. Northland Securities dropped their price objective on Chegg from $45.00 to $27.00 in a report on Tuesday, May 3rd. William Blair downgraded Chegg from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 3rd. Craig Hallum lowered their price target on shares of Chegg from $35.00 to $18.00 in a research note on Tuesday, May 3rd. Finally, Piper Sandler cut shares of Chegg from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $44.00 to $21.00 in a research note on Tuesday, May 3rd.

Shares of CHGG opened at $18.20 on Friday. The company has a debt-to-equity ratio of 2.08, a quick ratio of 8.02 and a current ratio of 8.02. The stock has a market capitalization of $2.29 billion, a P/E ratio of 41.36, a P/E/G ratio of 4.21 and a beta of 1.11. The company’s fifty day moving average is $29.82 and its two-hundred day moving average is $30.21. Chegg has a 1 year low of $15.66 and a 1 year high of $90.50.

Chegg (NYSE:CHGGGet Rating) last issued its earnings results on Monday, May 2nd. The technology company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.08. Chegg had a net margin of 8.90% and a return on equity of 8.71%. During the same period in the prior year, the business earned $0.13 EPS. Sell-side analysts predict that Chegg will post 0.23 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Centiva Capital LP raised its position in Chegg by 32.2% during the third quarter. Centiva Capital LP now owns 22,226 shares of the technology company’s stock worth $1,512,000 after acquiring an additional 5,415 shares during the last quarter. Sigma Planning Corp raised its position in Chegg by 264.8% during the fourth quarter. Sigma Planning Corp now owns 22,549 shares of the technology company’s stock worth $692,000 after acquiring an additional 16,367 shares during the last quarter. Twinbeech Capital LP acquired a new position in Chegg during the third quarter worth about $4,273,000. State of New Jersey Common Pension Fund D raised its position in Chegg by 27.3% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 106,121 shares of the technology company’s stock worth $3,258,000 after acquiring an additional 22,769 shares during the last quarter. Finally, GHE LLC acquired a new position in Chegg during the fourth quarter worth about $1,200,000.

Chegg Company Profile (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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Analyst Recommendations for Chegg (NYSE:CHGG)

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