Chegg’s (CHGG) Hold Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Chegg (NYSE:CHGG) in a research report sent to investors on Tuesday morning, Benzinga reports.

Several other brokerages also recently commented on CHGG. StockNews.com raised Chegg from a hold rating to a buy rating in a research report on Tuesday, January 23rd. Morgan Stanley decreased their price objective on shares of Chegg from $8.50 to $7.00 and set an underweight rating for the company in a report on Friday, April 19th. BMO Capital Markets dropped their target price 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. The Goldman Sachs Group decreased their price target on shares of Chegg from $8.00 to $7.00 and set a sell rating for the company in a research note on Tuesday, February 6th. Finally, Craig Hallum reissued a hold rating and issued a $7.00 price objective (down previously from $13.00) on shares of Chegg in a research note on Tuesday. Five investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $7.31.

Chegg Stock Up 0.6 %

NYSE CHGG opened at $5.24 on Tuesday. Chegg has a 52 week low of $4.96 and a 52 week 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 company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 0.25. The company has a fifty day moving average of $7.45 and a two-hundred day moving average of $8.99.

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

Hedge Funds Weigh In On Chegg

A number of large investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC bought a new stake in Chegg during the 1st quarter valued at $30,000. Headlands Technologies LLC purchased a new stake in shares of Chegg during the 4th quarter worth $48,000. Moors & Cabot Inc. bought a new stake in Chegg during the third quarter valued at about $98,000. Shell Asset Management Co. grew its stake in Chegg by 48.8% in the third quarter. Shell Asset Management Co. now owns 11,423 shares of the technology company’s stock valued at $102,000 after purchasing an additional 3,748 shares during the last quarter. Finally, Quest Partners LLC bought a new position in Chegg in the fourth quarter worth about $114,000. Institutional investors own 95.18% of the company’s stock.

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.