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

Chegg, Inc. (NYSE:CHGG) has been given an average recommendation of “Reduce” by the seven ratings firms that are currently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $1.70.

Several research analysts have commented on the stock. Wall Street Zen assumed coverage on shares of Chegg in a research report on Thursday, April 17th. They issued a “hold” rating for the company. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Chegg in a research note on Tuesday, April 8th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Chegg in a research note on Monday, May 12th.

Chegg Price Performance

NYSE CHGG opened at $1.42 on Monday. Chegg has a 52 week low of $0.44 and a 52 week high of $3.81. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.34. The stock has a market cap of $151.33 million, a price-to-earnings ratio of -0.17 and a beta of 1.82. The company has a 50-day moving average price of $1.11 and a two-hundred day moving average price of $1.12.

Institutional Trading of Chegg

Large investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp grew its position in Chegg by 15.4% in the fourth quarter. Bank of New York Mellon Corp now owns 437,199 shares of the technology company’s stock worth $704,000 after buying an additional 58,452 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Chegg by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 934,160 shares of the technology company’s stock worth $1,504,000 after buying an additional 22,827 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Chegg by 20.8% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,694,522 shares of the technology company’s stock worth $2,728,000 after buying an additional 291,902 shares during the last quarter. Intech Investment Management LLC grew its position in Chegg by 30.1% in the fourth quarter. Intech Investment Management LLC now owns 41,164 shares of the technology company’s stock worth $66,000 after buying an additional 9,514 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in Chegg in the fourth quarter worth approximately $146,000. 95.18% of the stock is currently owned by 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.