Chegg AI Investments Not Translating To Improved Fundamentals, Analysts Dive Deeper Into Q4 Print
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Shares of Chegg Inc (NYSE: CHGG) slipped in early trading on Tuesday, after declining more than 8% in the premarket session.
The company reported its fourth-quarter results amid an exciting earnings season. Here are some key analyst takeaways from the release.
- Piper Sandler analyst Arvind Ramnani downgraded the rating from Neutral to Underweight, while reducing the price target from $9.00 to $8.50.
- KeyBanc Capital Markets analyst Jason Celino maintained a Sector Weight rating on the stock.
- William Blair analyst Stephen Sheldon reiterated a Market Perform rating.
- Needham analyst Ryan MacDonald reiterated a Hold rating on the stock.
Check out other analyst stock ratings.
Piper Sandler: Chegg reported only a modest upside despite “muted” expectations for the fourth quarter, “wrapping up a year with sustained revenue headwinds,” Ramnani said in the downgrade note.
“Subscription Services revenues declined 4.7% …
Full story available on Benzinga.com
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