Chegg, Inc. (NYSE:CHGG) Given Consensus Recommendation of “Reduce” by Brokerages

Chegg, Inc. (NYSE:CHGG) has been assigned an average rating of “Reduce” from the seven brokerages that are presently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $2.08.

Several research analysts recently commented on CHGG shares. Craig Hallum reduced their price objective on shares of Chegg from $3.00 to $1.50 and set a “hold” rating for the company in a research note on Wednesday, November 13th. Northland Securities reduced their price objective on shares of Chegg from $4.00 to $3.00 and set a “market perform” rating for the company in a research note on Wednesday, November 13th. The Goldman Sachs Group reduced their price objective on shares of Chegg from $3.75 to $1.75 and set a “neutral” rating for the company in a research note on Thursday, November 14th. Piper Sandler reduced their price objective on shares of 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 reiterated an “underweight” rating and set a $1.25 price objective (down previously from $2.00) on shares of Chegg in a research note on Tuesday, January 14th.

Chegg Trading Down 7.2 %

NYSE:CHGG opened at $0.81 on Tuesday. Chegg has a one year low of $0.80 and a one year high of $8.41. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a market cap of $85.14 million, a P/E ratio of -0.10 and a beta of 1.52. The firm has a 50-day simple moving average of $1.44 and a 200-day simple moving average of $1.72.

Institutional Trading of Chegg

Hedge funds have recently added to or reduced their stakes in the company. XTX Topco Ltd boosted its holdings in Chegg by 384.4% during the third quarter. XTX Topco Ltd now owns 394,152 shares of the technology company’s stock worth $698,000 after buying an additional 312,780 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Chegg by 1.2% during the third quarter. Geode Capital Management LLC now owns 2,315,187 shares of the technology company’s stock worth $4,099,000 after buying an additional 26,574 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Chegg by 14.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 911,333 shares of the technology company’s stock worth $1,613,000 after buying an additional 118,403 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Chegg by 389.4% during the third quarter. BNP Paribas Financial Markets now owns 100,774 shares of the technology company’s stock worth $178,000 after buying an additional 80,183 shares in the last quarter. Finally, Private Advisor Group LLC purchased a new stake in Chegg during the fourth quarter worth $82,000. 95.18% of the stock is owned by hedge funds and other institutional investors.

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.