Chegg (NYSE:CHGG) Earns Hold Rating from Craig Hallum

Craig Hallum reaffirmed their hold rating on shares of Chegg (NYSE:CHGG) in a report released on Tuesday morning, Marketbeat.com reports. The brokerage currently has a $7.00 price target on the technology company’s stock, down from their previous price target of $13.00.

A number of other analysts also recently issued reports on the company. StockNews.com raised Chegg from a hold rating to a buy rating in a research report on Tuesday, January 23rd. BMO Capital Markets decreased their price target on shares of Chegg from $11.00 to $10.00 and set a market perform rating on the stock in a report on Tuesday, February 6th. Jefferies Financial Group cut Chegg from a hold rating to an underperform rating and reduced their price target for the stock from $7.00 to $4.00 in a research note on Tuesday. Morgan Stanley dropped their target price on shares of Chegg from $8.50 to $7.00 and set an underweight rating on the stock in a report on Friday, April 19th. Finally, Piper Sandler Companies downgraded shares of Chegg to an underweight rating and reduced their target price for the stock from $9.00 to $8.50 in a research report on Tuesday, February 6th. Five investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $7.31.

Chegg Price Performance

CHGG stock opened at $5.24 on Tuesday. The company has a market capitalization of $535.62 million, a P/E ratio of -27.58, a price-to-earnings-growth ratio of 1.05 and a beta of 1.35. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.80 and a current ratio of 0.92. Chegg has a 52-week low of $4.96 and a 52-week high of $13.11. The business has a 50-day simple moving average of $7.45 and a two-hundred day simple moving average of $8.99.

Chegg (NYSE:CHGG) last issued its quarterly earnings data on Monday, February 5th. The technology company reported $0.36 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.36. The business had revenue of $187.99 million during the quarter, compared to the consensus estimate of $185.94 million. Chegg had a net margin of 2.07% and a return on equity of 0.87%. The firm’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.16 EPS. Research analysts expect that Chegg will post 0.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Chegg by 7.5% during the fourth quarter. Vanguard Group Inc. now owns 11,630,011 shares of the technology company’s stock valued at $132,117,000 after buying an additional 809,530 shares during the last quarter. Sylebra Capital LLC purchased a new stake in Chegg during the 3rd quarter valued at $61,286,000. Jacobs Levy Equity Management Inc. increased its holdings in shares of Chegg by 14.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,663,462 shares of the technology company’s stock worth $23,758,000 after purchasing an additional 337,680 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Chegg by 39.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,648,182 shares of the technology company’s stock worth $30,084,000 after purchasing an additional 750,677 shares during the last quarter. Finally, Federated Hermes Inc. lifted its holdings in shares of Chegg by 229.8% during the fourth quarter. Federated Hermes Inc. now owns 1,254,339 shares of the technology company’s stock valued at $14,249,000 after purchasing an additional 873,984 shares in the last quarter. 95.18% of the stock is owned by hedge funds and other institutional investors.

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.