Chegg (NYSE:CHGG) PT Lowered to $7.00 at Jefferies Financial Group

Chegg (NYSE:CHGG) had its price target cut by Jefferies Financial Group from $10.00 to $7.00 in a report issued on Monday, Benzinga reports. They currently have a hold rating on the technology company’s stock.

Other equities analysts have also recently issued research reports about the company. Piper Sandler Companies cut Chegg to an underweight rating and cut their price target for the company from $9.00 to $8.50 in a report on Tuesday, February 6th. BMO Capital Markets decreased their price target on shares of Chegg from $11.00 to $10.00 and set a market perform rating on the stock in a research note 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. StockNews.com upgraded shares of Chegg from a hold rating to a buy rating in a research report on Tuesday, January 23rd. Finally, The Goldman Sachs Group dropped their price target on Chegg from $8.00 to $7.00 and set a sell rating for the company in a research report on Tuesday, February 6th. Five investment analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Chegg currently has a consensus rating of Hold and a consensus price target of $7.72.

Chegg Trading Up 4.1 %

Chegg stock opened at $5.38 on Monday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.80 and a quick ratio of 0.80. The firm’s 50 day moving average price is $7.60 and its 200-day moving average price is $9.04. Chegg has a 1 year low of $4.96 and a 1 year high of $13.11. The stock has a market cap of $546.45 million, a P/E ratio of -28.32, a PEG ratio of 1.39 and a beta of 1.26.

Chegg (NYSE:CHGG) last announced its quarterly earnings results on Monday, February 5th. The technology company reported $0.36 EPS for the quarter, hitting the consensus estimate of $0.36. Chegg had a net margin of 2.07% and a return on equity of 0.86%. The business had revenue of $187.99 million for the quarter, compared to analysts’ expectations of $185.94 million. During the same quarter in the previous year, the company earned $0.16 EPS. The business’s quarterly revenue was down 8.4% compared to the same quarter last year. On average, equities analysts predict that Chegg will post 0.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Chegg

Several hedge funds and other institutional investors have recently modified their holdings of the business. Acadian Asset Management LLC increased its stake in Chegg by 185.5% in the third quarter. Acadian Asset Management LLC now owns 294,208 shares of the technology company’s stock worth $2,621,000 after purchasing an additional 191,165 shares during the period. Trexquant Investment LP purchased a new position in Chegg in the 3rd quarter worth about $3,907,000. AQR Capital Management LLC lifted its holdings in Chegg by 75.4% during the 3rd quarter. AQR Capital Management LLC now owns 693,676 shares of the technology company’s stock valued at $6,188,000 after buying an additional 298,194 shares in the last quarter. Graham Capital Management L.P. boosted its position in Chegg by 28.2% in the 3rd quarter. Graham Capital Management L.P. now owns 126,457 shares of the technology company’s stock valued at $1,128,000 after buying an additional 27,813 shares during the period. Finally, Hsbc Holdings PLC grew its stake in Chegg by 114.4% in the 3rd quarter. Hsbc Holdings PLC now owns 262,562 shares of the technology company’s stock worth $2,347,000 after acquiring an additional 140,113 shares in the last quarter. 95.18% of the stock is currently 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.