Chegg (NYSE:CHGG) Rating Lowered to Underperform at Jefferies Financial Group

Jefferies Financial Group downgraded shares of Chegg (NYSE:CHGG) from a hold rating to an underperform rating in a research note published on Tuesday, MarketBeat Ratings reports. They currently have $4.00 target price on the technology company’s stock, down from their previous target price of $7.00.

A number of other analysts have also weighed in on CHGG. BMO Capital Markets cut their price objective 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 Companies downgraded shares of Chegg to an underweight rating and lowered their price target for the stock from $9.00 to $8.50 in a report on Tuesday, February 6th. JPMorgan Chase & Co. lowered their price target 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. StockNews.com raised shares of Chegg from a hold rating to a buy rating in a report on Tuesday, January 23rd. Finally, Morgan Stanley lowered their price target on shares of Chegg from $8.50 to $7.00 and set an underweight rating on the stock in a report on Friday, April 19th. Five analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average price target of $7.31.

Chegg Trading Up 0.6 %

Shares of Chegg stock opened at $5.24 on Tuesday. The company has a current ratio of 0.92, a quick ratio of 0.80 and a debt-to-equity ratio of 0.25. Chegg has a 12-month low of $4.96 and a 12-month high of $13.11. The firm has a market capitalization of $535.62 million, a price-to-earnings ratio of -27.58, a PEG ratio of 1.05 and a beta of 1.35. The firm’s 50 day simple moving average is $7.45 and its two-hundred day simple moving average is $8.99.

Chegg (NYSE:CHGG) last released its quarterly earnings data on Monday, February 5th. The technology company reported $0.36 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.36. The firm had revenue of $187.99 million for the quarter, compared to analyst estimates of $185.94 million. Chegg had a net margin of 2.07% and a return on equity of 0.87%. The business’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.16 earnings per share. Analysts predict that Chegg will post 0.26 EPS for the current year.

Hedge Funds Weigh In On Chegg

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CHGG. Sylebra Capital LLC purchased a new position in Chegg during the third quarter valued at $61,286,000. Boston Partners purchased a new position in shares of Chegg in the fourth quarter worth about $12,091,000. Federated Hermes Inc. lifted its stake in shares of Chegg by 229.8% in the fourth quarter. Federated Hermes Inc. now owns 1,254,339 shares of the technology company’s stock worth $14,249,000 after buying an additional 873,984 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Chegg by 7.5% in the fourth quarter. Vanguard Group Inc. now owns 11,630,011 shares of the technology company’s stock worth $132,117,000 after buying an additional 809,530 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Chegg by 39.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,648,182 shares of the technology company’s stock worth $30,084,000 after buying an additional 750,677 shares in the last quarter. 95.18% of the stock is owned by hedge funds and other institutional investors.

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.