Chegg, Inc. (NYSE:CHGG) Receives Average Recommendation of “Strong Sell” from Analysts

Shares of Chegg, Inc. (NYSE:CHGG) have been assigned a consensus rating of “Strong Sell” from the five ratings firms that are covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation and two have assigned a hold recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $1.00.

A number of research firms recently weighed in on CHGG. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Chegg in a report on Monday, December 29th. Zacks Research cut Chegg from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th.

Chegg Price Performance

Shares of NYSE CHGG opened at $0.78 on Friday. The firm has a market capitalization of $85.67 million, a PE ratio of -1.09 and a beta of 1.95. Chegg has a 1-year low of $0.44 and a 1-year high of $1.90. The business’s fifty day moving average price is $0.92 and its two-hundred day moving average price is $1.20.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CHGG. Arrowstreet Capital Limited Partnership increased its holdings in shares of Chegg by 158.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 3,756,917 shares of the technology company’s stock valued at $4,546,000 after purchasing an additional 2,305,872 shares during the period. AQR Capital Management LLC lifted its holdings in Chegg by 95.9% in the first quarter. AQR Capital Management LLC now owns 3,011,879 shares of the technology company’s stock worth $1,925,000 after purchasing an additional 1,474,640 shares during the period. Jacobs Levy Equity Management Inc. grew its position in Chegg by 227.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 930,177 shares of the technology company’s stock valued at $1,405,000 after buying an additional 645,874 shares in the last quarter. Allianz Asset Management GmbH acquired a new position in Chegg during the 3rd quarter valued at about $484,000. Finally, UBS Group AG increased its stake in Chegg by 64.9% during the 3rd quarter. UBS Group AG now owns 560,943 shares of the technology company’s stock valued at $847,000 after buying an additional 220,752 shares during the period. Institutional investors and hedge funds own 95.18% of the company’s stock.

Chegg Company Profile

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.