Craig-Hallum Downgrades Chegg to Hold, Lowers Price Target to $7
Portfolio Pulse from Benzinga Newsdesk
Craig-Hallum analyst Alex Fuhrman downgrades Chegg (NYSE:CHGG) from Buy to Hold and lowers the price target from $13 to $7.

April 30, 2024 | 4:28 pm
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Chegg's stock rating was downgraded from Buy to Hold by Craig-Hallum, with a significant reduction in the price target from $13 to $7.
The downgrade from Buy to Hold by a notable analyst firm, coupled with a nearly 50% reduction in the price target, is likely to negatively impact investor sentiment and the short-term stock price of Chegg. Such analyst actions often lead to immediate market reactions, as they are seen as a significant indicator of a company's current valuation and future prospects.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100