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Goldman Sachs Upgrades Chegg (CHGG) to Neutral

August 6, 2024 8:48 AM EDT

Goldman Sachs analyst Eric Sheridan upgraded Chegg (NYSE: CHGG) from Sell to Neutral with a price target of $3.75 (from $7.00).

The analyst comments "In its Q2 2024 earnings report, Chegg produced revenue and Adj EBITDA ahead of its guided ranges; however, its Q3 guidance points to a revenue and adj. EBITDA range ~10-15% and ~45-50% (respectively) below GS/Street estimates.... More