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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