Chegg (NYSE:CHGG) Stock Rating Lowered by Jefferies Financial Group

Chegg (NYSE:CHGG) was downgraded by investment analysts at Jefferies Financial Group from a “hold” rating to an “underperform” rating in a note issued to investors on Tuesday, MarketBeat Ratings reports. They presently have a $4.00 price objective on the technology company’s stock, down from their previous price objective of $7.00. Jefferies Financial Group’s price objective indicates a potential downside of 25.65% from the company’s previous close.

Several other equities analysts have also weighed in on the company. Piper Sandler Companies lowered Chegg to an “underweight” rating and reduced their price objective for the company from $9.00 to $8.50 in a report on Tuesday, February 6th. StockNews.com raised Chegg from a “hold” rating to a “buy” rating in a report on Tuesday, January 23rd. JPMorgan Chase & Co. reduced their price objective on Chegg from $10.00 to $9.00 and set a “neutral” rating for the company in a report on Tuesday, February 6th. BMO Capital Markets reduced their price objective on Chegg from $11.00 to $10.00 and set a “market perform” rating for the company in a report on Tuesday, February 6th. Finally, The Goldman Sachs Group cut their price target on Chegg from $8.00 to $7.00 and set a “sell” rating for the company in a report on Tuesday, February 6th. Five equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $7.72.

Chegg Stock Up 4.1 %

CHGG stock opened at $5.38 on Tuesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market cap of $546.45 million, a P/E ratio of -28.32, a price-to-earnings-growth ratio of 1.39 and a beta of 1.26. The stock’s 50 day simple moving average is $7.60 and its 200 day simple moving average is $9.04. Chegg has a fifty-two week low of $4.96 and a fifty-two week high of $13.11.

Chegg (NYSE:CHGG) last issued its quarterly earnings results on Monday, February 5th. The technology company reported $0.36 EPS for the quarter, meeting analysts’ consensus estimates of $0.36. Chegg had a return on equity of 0.86% and a net margin of 2.07%. The company had revenue of $187.99 million during the quarter, compared to the consensus estimate of $185.94 million. During the same period last year, the business posted $0.16 earnings per share. Chegg’s revenue was down 8.4% on a year-over-year basis. On average, research analysts expect that Chegg will post 0.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Chegg

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Janney Montgomery Scott LLC raised its position in shares of Chegg by 26.1% in the first quarter. Janney Montgomery Scott LLC now owns 109,821 shares of the technology company’s stock worth $831,000 after buying an additional 22,701 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Chegg in the first quarter worth $30,000. Assenagon Asset Management S.A. purchased a new stake in shares of Chegg in the first quarter worth $1,950,000. Counterpoint Mutual Funds LLC raised its position in shares of Chegg by 83.5% in the first quarter. Counterpoint Mutual Funds LLC now owns 36,441 shares of the technology company’s stock worth $276,000 after buying an additional 16,585 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Chegg by 7.5% in the fourth quarter. Vanguard Group Inc. now owns 11,630,011 shares of the technology company’s stock worth $132,117,000 after buying an additional 809,530 shares in the last quarter. Hedge funds and other institutional investors own 95.18% of the company’s stock.

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.