Chegg (NYSE:CHGG) PT Lowered to $7.00

Chegg (NYSE:CHGG) had its target price decreased by stock analysts at Jefferies Financial Group from $10.00 to $7.00 in a report released on Monday, Benzinga reports. The brokerage presently has a “hold” rating on the technology company’s stock. Jefferies Financial Group’s price objective indicates a potential upside of 35.53% from the company’s previous close.

CHGG has been the subject of a number of other reports. The Goldman Sachs Group reduced their target price on shares of Chegg from $8.00 to $7.00 and set a “sell” rating for the company in a report on Tuesday, February 6th. BMO Capital Markets reduced their target price on shares of Chegg from $11.00 to $10.00 and set a “market perform” rating for the company in a report on Tuesday, February 6th. Piper Sandler downgraded shares of Chegg from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $9.00 to $8.50 in a report on Tuesday, February 6th. JPMorgan Chase & Co. reduced their target price on shares of Chegg from $10.00 to $9.00 and set a “neutral” rating for the company in a report on Tuesday, February 6th. Finally, Morgan Stanley reduced their target price on shares of Chegg from $8.50 to $7.00 and set an “underweight” rating for the company in a report on Friday, April 19th. Five equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $7.72.

Chegg Stock Down 28.0 %

NYSE:CHGG opened at $5.17 on Monday. Chegg has a 1-year low of $5.11 and a 1-year high of $17.92. The company has a 50-day moving average of $7.74 and a 200 day moving average of $9.08. The firm has a market cap of $524.61 million, a PE ratio of -32.31, a price-to-earnings-growth ratio of 1.38 and a beta of 1.26. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.80 and a quick ratio of 0.80.

Chegg (NYSE:CHGG) last released its quarterly earnings data on Monday, February 5th. The technology company reported $0.36 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.36. Chegg had a net margin of 2.54% and a return on equity of 1.27%. The company had revenue of $187.99 million during the quarter, compared to analyst estimates of $185.94 million. During the same period in the prior year, the firm earned $0.16 earnings per share. The firm’s revenue for the quarter was down 8.4% compared to the same quarter last year. As a group, research analysts anticipate that Chegg will post 0.26 EPS for the current fiscal year.

Institutional Investors Weigh In On Chegg

Hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC purchased a new stake in Chegg in the 1st quarter worth approximately $30,000. Headlands Technologies LLC purchased a new stake in Chegg in the 4th quarter worth approximately $48,000. Moors & Cabot Inc. purchased a new position in shares of Chegg during the 3rd quarter valued at approximately $98,000. Shell Asset Management Co. lifted its position in shares of Chegg by 48.8% during the 3rd quarter. Shell Asset Management Co. now owns 11,423 shares of the technology company’s stock valued at $102,000 after buying an additional 3,748 shares in the last quarter. Finally, Quest Partners LLC purchased a new position in shares of Chegg during the 4th quarter valued at approximately $114,000. Hedge funds and other institutional investors own 95.18% of the company’s stock.

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.