Citi Downgrades Chegg (CHGG) to Neutral Citing Valuation

Citi downgraded Chegg (NYSE: CHGG) from Buy to Neutral with a price target of $22.70 (from $20.50).

Analyst Nithin Pejaver remains positive on the business and the addressable opportunity as well management's ability to execute on its growth strategy but steps to the sidelines noting limited upside to the new price target.

For an analyst ratings summary and ratings history on Chegg click here. For more ratings news on Chegg click here.

Shares of Chegg closed at $22.27 yesterday.

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