Why Chegg's Stock Is Trading Higher Today

Chegg, Inc. CHGG shares are trading higher on Monday after Citigroup maintained a Buy rating on the company’s stock, while lowering its price target from $50 to $45.

Chegg is an American educational services company that specializes in textbook rentals, course assistance and online tutoring.

Chegg shares have been extremely volatile over the past month. The stock has rallied approximately 21% over the past three trading sessions. Prior to the rally, Chegg’s shares took an approximate 38% drop in value since mid-February amid the coronavirus outbreak.

Chegg’s stock was up 12.55% to $33.36 per share at time of publication on Monday. The stock has a 52-week high of $48.22 and a 52-week low of $25.89.