Analysts Set Chegg, Inc. (NYSE:CHGG) Target Price at $1.00

Shares of Chegg, Inc. (NYSE:CHGG) have received a consensus recommendation of “Strong Sell” from the five analysts that are presently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation and two have given a hold recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $1.00.

Several research firms recently issued reports on CHGG. Zacks Research downgraded shares of Chegg from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Weiss Ratings restated a “sell (e+)” rating on shares of Chegg in a report on Monday, December 29th.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CHGG. Qube Research & Technologies Ltd acquired a new position in shares of Chegg during the third quarter worth approximately $32,000. Ground Swell Capital LLC bought a new stake in Chegg in the 2nd quarter valued at $27,000. Jump Financial LLC bought a new stake in Chegg in the 2nd quarter valued at $31,000. Burford Brothers Inc. grew its position in Chegg by 86.2% in the 3rd quarter. Burford Brothers Inc. now owns 25,798 shares of the technology company’s stock worth $39,000 after purchasing an additional 11,944 shares during the last quarter. Finally, Hudson Bay Capital Management LP bought a new position in shares of Chegg during the 2nd quarter worth about $36,000. 95.18% of the stock is owned by institutional investors.

Chegg Price Performance

Shares of NYSE:CHGG opened at $0.80 on Friday. The stock has a market capitalization of $87.63 million, a P/E ratio of -1.11 and a beta of 1.95. The business has a 50-day moving average of $0.91 and a two-hundred day moving average of $1.19. Chegg has a fifty-two week low of $0.44 and a fifty-two week high of $1.90.

About Chegg

Chegg, Inc (NYSE: CHGG) is a leading education technology company headquartered in Santa Clara, California. Originally founded in 2005, Chegg has evolved from a textbook rental service into a comprehensive digital learning platform. Its suite of subscription-based offerings addresses a wide range of academic needs, catering primarily to high school and college students seeking homework help, study resources, and career guidance.

The company’s core services include Chegg Study, which provides step-by-step solutions and expert Q&A support; Chegg Writing, offering plagiarism checks and guided writing assistance; and Chegg Math Solver, a tool for solving mathematical problems with detailed explanations.