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

Chegg, Inc. (NYSE:CHGG) has been assigned an average rating of “Strong Sell” from the five analysts that are presently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating and two have given a hold rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $1.00.

CHGG has been the topic of several analyst reports. Zacks Research cut shares of Chegg from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Needham & Company LLC reissued a “hold” rating on shares of Chegg in a research report on Tuesday, February 10th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Chegg in a research note on Monday, December 29th.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CHGG. Y Intercept Hong Kong Ltd purchased a new position in Chegg in the second quarter valued at about $80,000. Vanguard Personalized Indexing Management LLC increased its stake in shares of Chegg by 53.2% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 47,333 shares of the technology company’s stock worth $57,000 after purchasing an additional 16,430 shares during the last quarter. Savant Capital LLC bought a new stake in shares of Chegg in the 2nd quarter worth approximately $100,000. CWM LLC raised its holdings in shares of Chegg by 56.2% in the 2nd quarter. CWM LLC now owns 41,022 shares of the technology company’s stock worth $50,000 after purchasing an additional 14,758 shares during the period. Finally, Ground Swell Capital LLC purchased a new position in Chegg in the second quarter valued at approximately $27,000. Institutional investors own 95.18% of the company’s stock.

Chegg Trading Up 1.8%

Shares of Chegg stock opened at $0.56 on Tuesday. The company has a market capitalization of $61.63 million, a P/E ratio of -0.59 and a beta of 1.98. The stock has a fifty day simple moving average of $0.84 and a 200 day simple moving average of $1.12. Chegg has a 12-month low of $0.44 and a 12-month high of $1.90.

Chegg (NYSE:CHGG) last posted its quarterly earnings data on Monday, February 9th. The technology company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.18. Chegg had a negative net margin of 27.44% and a negative return on equity of 17.08%. The firm had revenue of $72.66 million for the quarter, compared to the consensus estimate of $71.00 million. On average, analysts predict that Chegg will post 0.15 EPS for the current year.

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.