B of A Securities Maintains Neutral Rating for Chegg: Here's What You Need To Know

B of A Securities has decided to maintain its Neutral rating of Chegg CHGG and lower its price target from $20.00 to $11.00.

Shares of Chegg are trading up 17.57% over the last 24 hours, at $10.68 per share.

A move to $11.00 would account for a 3.04% increase from the current share price.

About Chegg

Chegg Inc is an American educational services company. The Chegg platform provides products and services to support learners with their academic course materials, as well as their career and personal skills development. The company's service and product offerings fall into two categories: Subscription Services, which encompasses Chegg Study Pack, Chegg Study, Chegg Writing, Chegg Math, and Busuu offerings that can be accessed internationally through the company's websites and on mobile devices, and Skills and Other, which encompasses skills, advertising services, print textbooks and eTextbooks offerings.

About Analyst Ratings

Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.

Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.