Jefferies Financial Group Lowers Chegg (NYSE:CHGG) to Underperform

Chegg (NYSE:CHGG) was downgraded by equities researchers at Jefferies Financial Group from a “hold” rating to an “underperform” rating in a note issued to investors on Tuesday, MarketBeat reports. They presently have a $4.00 price target on the technology company’s stock, down from their prior price target of $7.00. Jefferies Financial Group’s price objective would indicate a potential downside of 25.65% from the stock’s previous close.

CHGG has been the topic of a number of other reports. Piper Sandler Companies lowered shares of Chegg 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 on the stock in a report on Tuesday, February 6th. Piper Sandler lowered 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 report on Tuesday, January 23rd. Finally, BMO Capital Markets reduced their target price on shares of Chegg from $11.00 to $10.00 and set a “market perform” rating on the stock in a report on Tuesday, February 6th. Five analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Chegg currently has a consensus rating of “Hold” and a consensus price target of $7.72.

Chegg Stock Performance

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

Chegg (NYSE:CHGG) last issued its quarterly earnings data 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 firm had revenue of $187.99 million for the quarter, compared to analyst estimates of $185.94 million. During the same period in the prior year, the business posted $0.16 EPS. The business’s revenue for the quarter was down 8.4% compared to the same quarter last year. As a group, equities research analysts predict that Chegg will post 0.26 EPS for the current year.

Institutional Investors Weigh In On Chegg

A number of hedge funds and other institutional investors have recently modified their holdings of CHGG. SG Americas Securities LLC acquired a new stake in shares of Chegg in the 3rd quarter valued at $437,000. Commonwealth Equity Services LLC grew 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 valued at $628,000 after buying an additional 1,768 shares during the last quarter. Robeco Institutional Asset Management B.V. purchased a new position in shares of Chegg in the 3rd quarter valued at $1,261,000. Mackenzie Financial Corp purchased a new position in shares of Chegg in the 3rd quarter valued at $549,000. Finally, Bordeaux Wealth Advisors LLC grew its position in shares of Chegg by 11.4% in the 3rd quarter. Bordeaux Wealth Advisors LLC now owns 54,534 shares of the technology company’s stock valued at $486,000 after buying an additional 5,584 shares during the last quarter. 95.18% of the stock is currently owned by institutional investors and hedge funds.

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.