Chegg (NYSE:CHGG) Hits New 1-Year Low at $6.63

Chegg, Inc. (NYSE:CHGG)’s share price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $6.63 and last traded at $6.69, with a volume of 596633 shares. The stock had previously closed at $6.83.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CHGG. JPMorgan Chase & Co. dropped their price target on Chegg from $10.00 to $9.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 6th. The Goldman Sachs Group lowered their price target on Chegg from $8.00 to $7.00 and set a “sell” rating on the stock in a report on Tuesday, February 6th. Morgan Stanley reduced their price objective on Chegg from $8.50 to $7.00 and set an “underweight” rating for the company in a research note on Friday, April 19th. StockNews.com upgraded shares of Chegg from a “hold” rating to a “buy” rating in a report on Tuesday, January 23rd. Finally, BMO Capital Markets dropped their price target 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. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $10.00.

Chegg Trading Down 0.3 %

The company has a market cap of $691.69 million, a price-to-earnings ratio of -42.50, a price-to-earnings-growth ratio of 1.33 and a beta of 1.26. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.80 and a quick ratio of 0.80. The business has a 50 day simple moving average of $7.91 and a 200 day simple moving average of $9.12.

Chegg (NYSE:CHGG) last issued its quarterly earnings results on Monday, February 5th. The technology company reported $0.36 EPS for the quarter, hitting the consensus estimate of $0.36. Chegg had a net margin of 2.54% and a return on equity of 1.27%. The company had revenue of $187.99 million during the quarter, compared to analysts’ expectations of $185.94 million. During the same quarter in the previous year, the company earned $0.16 EPS. Chegg’s revenue was down 8.4% on a year-over-year basis. As a group, equities analysts forecast that Chegg, Inc. will post 0.26 EPS for the current year.

Institutional Trading of Chegg

Several hedge funds have recently bought and sold shares of CHGG. Sylebra Capital LLC acquired a new stake in Chegg in the 3rd quarter valued at approximately $61,286,000. Boston Partners acquired a new stake in Chegg in the 4th quarter valued at about $12,091,000. Federated Hermes Inc. raised its stake in Chegg by 229.8% in the 4th quarter. Federated Hermes Inc. now owns 1,254,339 shares of the technology company’s stock valued at $14,249,000 after acquiring an additional 873,984 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Chegg by 7.5% during the fourth quarter. Vanguard Group Inc. now owns 11,630,011 shares of the technology company’s stock worth $132,117,000 after acquiring an additional 809,530 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Chegg by 39.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,648,182 shares of the technology company’s stock valued at $30,084,000 after purchasing an additional 750,677 shares during the period. 95.18% of the stock is currently owned by institutional investors and hedge funds.

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.