Craig Hallum Reaffirms “Hold” Rating for Chegg (NYSE:CHGG)

Chegg (NYSE:CHGG)‘s stock had its “hold” rating restated by analysts at Craig Hallum in a research note issued to investors on Tuesday, MarketBeat.com reports. They currently have a $7.00 price target on the technology company’s stock, down from their prior price target of $13.00. Craig Hallum’s target price points to a potential upside of 30.11% from the stock’s current price.

Other research analysts have also issued research reports about the company. Piper Sandler lowered Chegg from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $9.00 to $8.50 in a research report on Tuesday, February 6th. Morgan Stanley lowered their price target on Chegg from $8.50 to $7.00 and set an “underweight” rating for the company in a research report on Friday, April 19th. BMO Capital Markets lowered their price target on Chegg from $11.00 to $10.00 and set a “market perform” rating for the company in a research report on Tuesday, February 6th. JPMorgan Chase & Co. lowered their price target on Chegg from $10.00 to $9.00 and set a “neutral” rating for the company in a research report on Tuesday, February 6th. Finally, StockNews.com raised Chegg from a “hold” rating to a “buy” rating in a research report on Tuesday, January 23rd. Five equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $7.72.

Chegg Trading Up 4.1 %

NYSE CHGG opened at $5.38 on Tuesday. Chegg has a 1-year low of $4.96 and a 1-year high of $13.11. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.26. The stock has a 50-day moving average of $7.60 and a 200-day moving average of $9.04. The firm has a market cap of $546.45 million, a PE ratio of -28.32, a price-to-earnings-growth ratio of 1.39 and a beta of 1.26.

Chegg (NYSE:CHGG) last released its earnings results on Monday, February 5th. The technology company reported $0.36 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.36. Chegg had a return on equity of 0.86% and a net margin of 2.07%. The company had revenue of $187.99 million during the quarter, compared to analyst estimates of $185.94 million. During the same quarter in the previous year, the company posted $0.16 EPS. Chegg’s revenue for the quarter was down 8.4% on a year-over-year basis. As a group, sell-side analysts forecast that Chegg will post 0.26 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Commonwealth Equity Services LLC raised its position in shares of Chegg by 2.6% in the 3rd quarter. Commonwealth Equity Services LLC now owns 70,415 shares of the technology company’s stock worth $628,000 after acquiring an additional 1,768 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Chegg by 4.5% in the 4th quarter. SG Americas Securities LLC now owns 51,205 shares of the technology company’s stock worth $582,000 after acquiring an additional 2,216 shares in the last quarter. Daiwa Securities Group Inc. raised its position in shares of Chegg by 6.4% in the 4th quarter. Daiwa Securities Group Inc. now owns 41,595 shares of the technology company’s stock worth $473,000 after acquiring an additional 2,500 shares in the last quarter. GHE LLC grew its stake in shares of Chegg by 5.3% in the 3rd quarter. GHE LLC now owns 50,517 shares of the technology company’s stock worth $451,000 after buying an additional 2,548 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Chegg by 5.3% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 51,276 shares of the technology company’s stock worth $457,000 after buying an additional 2,600 shares during the last quarter. 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.