Analysts Set Chegg, Inc. (NYSE:CHGG) Price Target at $5.47

Chegg, Inc. (NYSE:CHGG) has earned a consensus rating of “Reduce” from the ten analysts that are covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell rating and seven have issued a hold rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $5.47.

CHGG has been the topic of a number of research analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Chegg in a report on Tuesday, August 6th. Craig Hallum lowered their target price on shares of Chegg from $7.00 to $3.00 and set a “hold” rating on the stock in a report on Wednesday, August 7th. Morgan Stanley cut their target price on shares of Chegg from $3.25 to $3.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 6th. StockNews.com downgraded shares of Chegg from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, The Goldman Sachs Group raised shares of Chegg from a “sell” rating to a “neutral” rating and dropped their price objective for the company from $7.00 to $3.75 in a report on Tuesday, August 6th.

Hedge Funds Weigh In On Chegg

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Chegg by 7.5% during the 4th quarter. Vanguard Group Inc. now owns 11,630,011 shares of the technology company’s stock valued at $132,117,000 after purchasing an additional 809,530 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Chegg by 10.4% during the second quarter. Dimensional Fund Advisors LP now owns 4,585,055 shares of the technology company’s stock valued at $14,488,000 after buying an additional 433,709 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Chegg by 284.9% in the second quarter. AQR Capital Management LLC now owns 2,878,869 shares of the technology company’s stock worth $8,694,000 after buying an additional 2,130,998 shares during the period. Jacobs Levy Equity Management Inc. raised its holdings in shares of Chegg by 4.0% in the first quarter. Jacobs Levy Equity Management Inc. now owns 2,747,406 shares of the technology company’s stock worth $20,798,000 after buying an additional 105,511 shares during the period. Finally, Millennium Management LLC lifted its stake in shares of Chegg by 158.4% during the 2nd quarter. Millennium Management LLC now owns 2,221,344 shares of the technology company’s stock worth $7,019,000 after acquiring an additional 1,361,710 shares during the last quarter. Institutional investors own 95.18% of the company’s stock.

Chegg Trading Down 3.4 %

Chegg stock opened at $1.86 on Tuesday. Chegg has a 12-month low of $1.78 and a 12-month high of $11.48. The firm has a market capitalization of $189.61 million, a price-to-earnings ratio of -9.76, a P/E/G ratio of 0.68 and a beta of 1.31. The firm has a 50 day moving average of $2.58 and a 200 day moving average of $4.60. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.67.

Chegg (NYSE:CHGG) last announced its quarterly earnings data on Monday, August 5th. The technology company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.03. Chegg had a negative net margin of 91.74% and a positive return on equity of 2.10%. The firm had revenue of $163.10 million during the quarter, compared to analysts’ expectations of $160.02 million. During the same period in the prior year, the company posted $0.01 earnings per share. The company’s revenue for the quarter was down 10.8% compared to the same quarter last year. As a group, research analysts predict that Chegg will post 0.19 earnings per share for the current year.

About Chegg

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.