Chegg’s (CHGG) “Hold” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Chegg (NYSE:CHGG) in a research report released on Monday,Benzinga reports.

A number of other research firms have also recently issued reports on CHGG. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Chegg in a research report on Tuesday, April 8th. Morgan Stanley reiterated an “underweight” rating and issued a $1.25 price target (down previously from $2.00) on shares of Chegg in a report on Tuesday, January 14th. StockNews.com initiated coverage on Chegg in a report on Thursday, April 17th. They set a “hold” rating for the company. Finally, Piper Sandler cut their target price on Chegg from $1.50 to $1.00 and set an “underweight” rating on the stock in a report on Tuesday, February 25th. Three analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat, Chegg presently has an average rating of “Hold” and an average price target of $1.70.

Chegg Stock Up 3.7%

Shares of NYSE CHGG opened at $0.83 on Monday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.31. The firm has a market cap of $87.67 million, a PE ratio of -0.10 and a beta of 1.75. The company’s fifty day simple moving average is $0.65 and its 200 day simple moving average is $1.33. Chegg has a 12-month low of $0.44 and a 12-month high of $4.84.

Institutional Investors Weigh In On Chegg

Institutional investors have recently added to or reduced their stakes in the business. Caprock Group LLC bought a new stake in shares of Chegg in the fourth quarter valued at approximately $28,000. Pallas Capital Advisors LLC boosted its holdings in Chegg by 60.5% in the 4th quarter. Pallas Capital Advisors LLC now owns 17,659 shares of the technology company’s stock worth $28,000 after buying an additional 6,658 shares during the period. Virtus Fund Advisers LLC purchased a new position in Chegg in the 4th quarter valued at approximately $28,000. Quantbot Technologies LP bought a new stake in Chegg during the 1st quarter valued at $28,000. Finally, Cerity Partners LLC raised its holdings in Chegg by 226.6% during the 1st quarter. Cerity Partners LLC now owns 45,208 shares of the technology company’s stock valued at $29,000 after acquiring an additional 31,366 shares during the period. 95.18% of the stock is owned by hedge funds and other institutional investors.

About Chegg

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.