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

Shares of Chegg, Inc. (NYSE:CHGG) have been given a consensus recommendation of “Strong Sell” by the five research firms that are currently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a sell rating and two have issued a hold rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $1.00.

A number of equities analysts have recently issued reports on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Chegg in a research report on Monday, December 29th. Zacks Research lowered Chegg from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Chegg in a research note on Tuesday, February 10th.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CHGG. Jefferies Financial Group Inc. grew its holdings in shares of Chegg by 14.2% during the third quarter. Jefferies Financial Group Inc. now owns 88,269 shares of the technology company’s stock valued at $133,000 after buying an additional 11,000 shares during the last quarter. Burford Brothers Inc. lifted its position in Chegg by 86.2% in the 3rd quarter. Burford Brothers Inc. now owns 25,798 shares of the technology company’s stock valued at $39,000 after acquiring an additional 11,944 shares in the last quarter. Spectrum Wealth Advisory Group LLC lifted its position in Chegg by 36.8% in the 2nd quarter. Spectrum Wealth Advisory Group LLC now owns 48,370 shares of the technology company’s stock valued at $59,000 after acquiring an additional 13,000 shares in the last quarter. CWM LLC boosted its stake in Chegg by 56.2% during the 2nd quarter. CWM LLC now owns 41,022 shares of the technology company’s stock valued at $50,000 after purchasing an additional 14,758 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in Chegg by 53.2% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 47,333 shares of the technology company’s stock worth $57,000 after purchasing an additional 16,430 shares in the last quarter. 95.18% of the stock is owned by institutional investors.

Chegg Stock Performance

Chegg stock opened at $0.56 on Tuesday. The stock has a market capitalization of $61.63 million, a price-to-earnings ratio of -0.59 and a beta of 1.98. Chegg has a 52-week low of $0.44 and a 52-week high of $1.90. The stock’s 50 day moving average price is $0.84 and its two-hundred day moving average price is $1.12.

Chegg (NYSE:CHGG) last released its earnings results on Monday, February 9th. The technology company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.18. The company had revenue of $72.66 million for the quarter, compared to the consensus estimate of $71.00 million. Chegg had a negative net margin of 27.44% and a negative return on equity of 17.08%. On average, equities research analysts forecast that Chegg will post 0.15 EPS for the current year.

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.