Chegg, Inc. (NYSE:CHGG) Receives $29.75 Average PT from Brokerages

Shares of Chegg, Inc. (NYSE:CHGGGet Rating) have received a consensus rating of “Hold” from the sixteen research firms that are currently covering the stock, MarketBeat reports. Nine analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $29.75.

A number of research firms have weighed in on CHGG. Morgan Stanley cut their price objective on shares of Chegg from $37.00 to $20.00 in a report on Tuesday, May 3rd. Northland Securities cut their price objective on shares of Chegg from $45.00 to $27.00 in a report on Tuesday, May 3rd. Craig Hallum cut their price objective on shares of Chegg from $35.00 to $18.00 in a report on Tuesday, May 3rd. Zacks Investment Research raised shares of Chegg from a “sell” rating to a “hold” rating in a report on Friday, February 11th. Finally, William Blair cut shares of Chegg from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 3rd.

Several large investors have recently added to or reduced their stakes in CHGG. KRS Capital Management LLC acquired a new position in shares of Chegg during the 4th quarter worth $45,000. Quadrant Capital Group LLC increased its stake in shares of Chegg by 2,703.8% during the 4th quarter. Quadrant Capital Group LLC now owns 1,486 shares of the technology company’s stock valued at $46,000 after acquiring an additional 1,433 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Chegg during the 1st quarter valued at about $48,000. Captrust Financial Advisors increased its stake in shares of Chegg by 79.6% during the 1st quarter. Captrust Financial Advisors now owns 2,012 shares of the technology company’s stock valued at $73,000 after acquiring an additional 892 shares during the last quarter. Finally, Signaturefd LLC grew its holdings in shares of Chegg by 501.9% during the 4th quarter. Signaturefd LLC now owns 3,202 shares of the technology company’s stock worth $98,000 after purchasing an additional 2,670 shares during the period.

NYSE:CHGG traded up $0.46 during mid-day trading on Friday, hitting $19.19. The stock had a trading volume of 49,353 shares, compared to its average volume of 6,925,180. The stock has a 50-day simple moving average of $29.35 and a two-hundred day simple moving average of $29.24. The company has a market capitalization of $2.42 billion, a PE ratio of 42.66, a PEG ratio of 4.66 and a beta of 1.12. Chegg has a twelve month low of $15.66 and a twelve month high of $90.50. The company has a current ratio of 8.02, a quick ratio of 8.02 and a debt-to-equity ratio of 2.08.

Chegg (NYSE:CHGGGet Rating) last issued its earnings results on Monday, May 2nd. The technology company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.08. Chegg had a net margin of 8.90% and a return on equity of 8.71%. During the same period in the previous year, the business earned $0.13 EPS. Sell-side analysts predict that Chegg will post 0.23 EPS for the current fiscal year.

Chegg Company Profile (Get Rating)

Chegg, Inc operates direct-to-student learning platform that supports students starting with their academic journey and extending into their careers with products and services to support and help them better understand their academic course materials. The company offers Chegg Services, which include subscription services; and required materials that comprise its print textbooks and eTextbooks.

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