Analysts Set Chegg, Inc. (NYSE:CHGG) PT at $1.70

Chegg, Inc. (NYSE:CHGG) has been given a consensus recommendation of “Reduce” by the nine analysts that are presently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a sell rating and five have given a hold rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $1.70.

Several research analysts have recently issued reports on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Chegg in a research note on Wednesday, October 8th. Zacks Research downgraded shares of Chegg from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Spectrum Wealth Advisory Group LLC raised its holdings in shares of Chegg by 36.8% during the second quarter. Spectrum Wealth Advisory Group LLC now owns 48,370 shares of the technology company’s stock valued at $59,000 after purchasing an additional 13,000 shares during the last quarter. CWM LLC raised its holdings in shares of Chegg by 56.2% during the second quarter. CWM LLC now owns 41,022 shares of the technology company’s stock valued at $50,000 after purchasing an additional 14,758 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Chegg by 101.5% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 30,861 shares of the technology company’s stock valued at $37,000 after purchasing an additional 15,549 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Chegg by 53.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 47,333 shares of the technology company’s stock valued at $57,000 after purchasing an additional 16,430 shares during the last quarter. Finally, Cerity Partners LLC raised its holdings in shares of Chegg by 38.4% during the second quarter. Cerity Partners LLC now owns 62,579 shares of the technology company’s stock valued at $76,000 after purchasing an additional 17,371 shares during the last quarter. 95.18% of the stock is owned by hedge funds and other institutional investors.

Chegg Stock Performance

Shares of NYSE CHGG opened at $1.28 on Wednesday. The firm’s 50 day moving average price is $1.42 and its 200-day moving average price is $1.18. The company has a market cap of $138.66 million, a PE ratio of -0.49 and a beta of 1.90. Chegg has a 52-week low of $0.44 and a 52-week high of $2.73.

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.