Chegg shares are trading lower after the company reported Q2 financial reuslts and issued Q3 revenue guidance below estimates. Also, Piper Sandler maintained an Underweight rating on the stock and lowered its price target from $6 to $2.
Portfolio Pulse from Benzinga Newsdesk
Chegg shares are trading lower after the company reported Q2 financial results and issued Q3 revenue guidance below estimates. Piper Sandler maintained an Underweight rating on the stock and lowered its price target from $6 to $2.
August 06, 2024 | 3:26 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Chegg shares are trading lower due to disappointing Q2 financial results and Q3 revenue guidance below estimates. Piper Sandler maintained an Underweight rating and lowered its price target from $6 to $2.
The combination of disappointing Q2 results, lower-than-expected Q3 revenue guidance, and a significant price target cut by Piper Sandler is likely to negatively impact Chegg's stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100