Fintel reports that on May 2, 2023, Jefferies downgraded their outlook for Chegg (NYSE:CHGG) from Buy to Hold .
Analyst Price Forecast Suggests 18.08% Upside
As of April 24, 2023, the average one-year price target for Chegg is 20.78. The forecasts range from a low of 17.17 to a high of $26.25. The average price target represents an increase of 18.08% from its latest reported closing price of 17.60.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Chegg is 837MM, an increase of 11.27%. The projected annual non-GAAP EPS is 1.36.
What is the Fund Sentiment?
There are 588 funds or institutions reporting positions in Chegg. This is an increase of 29 owner(s) or 5.19% in the last quarter. Average portfolio weight of all funds dedicated to CHGG is 0.22%, an increase of 0.79%. Total shares owned by institutions decreased in the last three months by 0.30% to 134,596K shares. 
The put/call ratio of CHGG is 1.38, indicating a bearish outlook.
What are Other Shareholders Doing?
Baillie Gifford holds 17,930K shares representing 14.99% ownership of the company. In it's prior filing, the firm reported owning 18,209K shares, representing a decrease of 1.56%. The firm increased its portfolio allocation in CHGG by 19.37% over the last quarter.
AMCPX - AMCAP FUND holds 6,530K shares representing 5.46% ownership of the company. In it's prior filing, the firm reported owning 4,759K shares, representing an increase of 27.12%. The firm decreased its portfolio allocation in CHGG by 26.76% over the last quarter.
Sands Capital Management holds 5,450K shares representing 4.56% ownership of the company. In it's prior filing, the firm reported owning 5,378K shares, representing an increase of 1.33%. The firm increased its portfolio allocation in CHGG by 22.36% over the last quarter.
Capital Research Global Investors holds 4,817K shares representing 4.03% ownership of the company. In it's prior filing, the firm reported owning 5,180K shares, representing a decrease of 7.54%. The firm increased its portfolio allocation in CHGG by 2.59% over the last quarter.
VWUSX - Vanguard U.S. Growth Fund Investor Shares holds 4,480K shares representing 3.74% ownership of the company. In it's prior filing, the firm reported owning 4,323K shares, representing an increase of 3.50%. The firm decreased its portfolio allocation in CHGG by 43.87% over the last quarter.
Chegg Background Information
(This description is provided by the company.)
Chegg is the leading direct-to-student learning platform. Chegg strives to improve educational outcomes by putting the student first. Chegg supports students on their journey from high school to college and into their career with tools designed to help them pass their test, pass their class, and save money on required materials. Chegg is based in Santa Clara, California
See all Chegg regulatory filings.This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
