Morgan Stanley analyst Josh Baer lowered the firm’s price target on Chegg (CHGG) to $1 from $1.25 and keeps an Underweight rating on the shares. Q1 guidance “meaningfully missed consensus,” which is likely to cause material negative consensus estimate revisions in 2025 and beyond, the analyst tells investors. The firm lowered its “Street low” estimates, driving its decreased price target the analyst noted following earnings.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CHGG:
- Chegg price target lowered to $1 from $1.50 at Piper Sandler
- Chegg’s Hold Rating Amid AI Competition and Strategic Uncertainty
- Chegg’s Financial Struggles: Declining Growth, Legal Challenges, and Strategic Uncertainty Prompt Sell Rating
- Chegg to explore strategic alternatives, files lawsuit against Google
- Chegg Inc. Reports 2024 Financial Results Amid Strategic Shifts