Chegg, Inc. (NYSE:CHGG) Receives Average Rating of “Strong Sell” from Brokerages

Shares of Chegg, Inc. (NYSE:CHGG) have received a consensus recommendation of “Strong Sell” from the five brokerages that are covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation and two have given a hold recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $1.00.

A number of analysts have recently weighed in on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Chegg in a research report on Monday, December 29th. Zacks Research downgraded shares of Chegg from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th.

Chegg Stock Up 2.8%

Shares of NYSE CHGG opened at $0.78 on Friday. Chegg has a fifty-two week low of $0.44 and a fifty-two week high of $1.90. The business has a 50 day moving average price of $0.92 and a two-hundred day moving average price of $1.20. The firm has a market cap of $85.67 million, a PE ratio of -1.09 and a beta of 1.95.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CHGG. AQR Capital Management LLC raised its position in shares of Chegg by 95.9% during the 1st quarter. AQR Capital Management LLC now owns 3,011,879 shares of the technology company’s stock valued at $1,925,000 after acquiring an additional 1,474,640 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Chegg by 8.5% in the 1st quarter. Empowered Funds LLC now owns 424,563 shares of the technology company’s stock worth $271,000 after buying an additional 33,269 shares during the last quarter. Strs Ohio bought a new stake in shares of Chegg during the 1st quarter valued at about $56,000. Wealth Enhancement Advisory Services LLC raised its stake in Chegg by 101.5% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 30,861 shares of the technology company’s stock worth $37,000 after acquiring an additional 15,549 shares during the period. Finally, Vanguard Personalized Indexing Management LLC lifted its holdings in Chegg by 53.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 47,333 shares of the technology company’s stock worth $57,000 after acquiring an additional 16,430 shares during the last quarter. Institutional investors and hedge funds own 95.18% of the company’s stock.

Chegg Company Profile

Chegg, Inc (NYSE: CHGG) is a leading education technology company headquartered in Santa Clara, California. Originally founded in 2005, Chegg has evolved from a textbook rental service into a comprehensive digital learning platform. Its suite of subscription-based offerings addresses a wide range of academic needs, catering primarily to high school and college students seeking homework help, study resources, and career guidance.

The company’s core services include Chegg Study, which provides step-by-step solutions and expert Q&A support; Chegg Writing, offering plagiarism checks and guided writing assistance; and Chegg Math Solver, a tool for solving mathematical problems with detailed explanations.