CHGG Similar Chart Price Prediction
The price of CHGG is predicted to go up 0.18%, based on the high correlation periods with LIVN. The similarity of these two price pattern on the periods is 98.02%.
CHGG
LIVN
Up: 0.18%Similarity: 98.02%
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CHGG Analyst's Forecast
Josh Baer
Morgan Stanley
Hold → Sell
2025-01-14
Price Target
$2 → $1.25
Downside
-16.11%
Morgan Stanley downgraded Chegg to Underweight from Equal Weight with a price target of $1.25, down from $2. The firm says a "steep drop" in third party data trends suggest Chegg's consensus estimates may prove to be too high. This creates a tough setup for a "secularly challenged stock" which is up over 20% off its 2024 lows, the analyst tells investors in a research note. Web traffic and app download data trends for Chegg weakened significantly in November and December, contends Morgan Stanley. It believes impacts from an intensifying generative artificial intelligence competitive landscape are "still to come" as those students with more history and allegiance to Chegg graduate.
