Chegg, Inc. (NYSE:CHGG) Receives $2.08 Average PT from Analysts

Chegg, Inc. (NYSE:CHGG) has earned an average recommendation of “Reduce” from the seven research firms that are covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $2.08.

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

Hedge Funds Weigh In On Chegg

Large investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio boosted its stake in Chegg by 54.7% during the fourth quarter. Public Employees Retirement System of Ohio now owns 99,256 shares of the technology company’s stock worth $160,000 after buying an additional 35,100 shares during the period. Virtus Fund Advisers LLC purchased a new position in shares of Chegg during the 4th quarter worth about $28,000. Virtus Investment Advisers Inc. bought a new position in Chegg during the 4th quarter valued at about $479,000. Two Sigma Advisers LP raised its position in Chegg by 1.1% in the 4th quarter. Two Sigma Advisers LP now owns 2,088,900 shares of the technology company’s stock worth $3,363,000 after purchasing an additional 22,100 shares during the period. Finally, Two Sigma Investments LP lifted its stake in Chegg by 8.2% in the fourth quarter. Two Sigma Investments LP now owns 2,254,234 shares of the technology company’s stock worth $3,629,000 after purchasing an additional 170,077 shares during the last quarter. Institutional investors own 95.18% of the company’s stock.

Chegg Trading Up 0.2 %

Chegg stock opened at $0.62 on Friday. Chegg has a 1 year low of $0.61 and a 1 year high of $7.68. The firm’s 50 day moving average price is $1.12 and its 200-day moving average price is $1.56. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market cap of $65.00 million, a P/E ratio of -0.08 and a beta of 1.52.

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.