Analysts Set Chegg, Inc. (NYSE:CHGG) Price Target at $2.08

Chegg, Inc. (NYSE:CHGG) has been given an average recommendation of “Reduce” by the seven research firms that are covering the stock, Marketbeat reports. Three analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $2.08.

A number of equities research analysts have recently issued reports on the company. Needham & Company LLC restated a “hold” rating on shares of Chegg in a report on Tuesday, February 25th. Piper Sandler cut their target price on Chegg from $1.50 to $1.00 and set an “underweight” rating for the company in a research note on Tuesday, February 25th. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $1.25 target price (down previously from $2.00) on shares of Chegg in a research note on Tuesday, January 14th.

Hedge Funds Weigh In On Chegg

Hedge funds have recently bought and sold shares of the company. Virtus Fund Advisers LLC bought a new stake in Chegg in the 4th quarter worth approximately $28,000. Caprock Group LLC bought a new stake in Chegg during the 4th quarter valued at approximately $28,000. Pallas Capital Advisors LLC boosted its position in shares of Chegg by 60.5% during the fourth quarter. Pallas Capital Advisors LLC now owns 17,659 shares of the technology company’s stock valued at $28,000 after purchasing an additional 6,658 shares in the last quarter. Ieq Capital LLC purchased a new stake in shares of Chegg in the 4th quarter worth about $31,000. Finally, Point72 Asia Singapore Pte. Ltd. grew its holdings in Chegg by 272.2% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 25,051 shares of the technology company’s stock worth $44,000 after purchasing an additional 18,320 shares during the period. Hedge funds and other institutional investors own 95.18% of the company’s stock.

Chegg Price Performance

CHGG stock opened at $0.64 on Friday. The stock has a 50-day moving average price of $1.16 and a two-hundred day moving average price of $1.57. Chegg has a 1 year low of $0.62 and a 1 year high of $7.75. The stock has a market cap of $67.69 million, a PE ratio of -0.08 and a beta of 1.52. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.31.

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.