BUZZ-Edtech firm Chegg slumps as AI competition prompts strategic review
ReutersFeb 25, 2025 12:18 PM
Shares of U.S. education technology firm Chegg CHGG.N fall 21% to $1.23 premarket
The company is considering a sale or take-private deal, CEO Nathan Schultz said on Monday, as Google's AI overviews have caused a drop in visitors and subscribers to Chegg's platform
Co forecasts Q1 revenue below estimates
Reports a year-on-year drop in revenue for 14th straight quarter
Jefferies and Morgan Stanley trim PT on stock after results
About 6 out of 9 brokerages rate the stock "hold" and 3 rate it "sell" or lower; median PT at $1.20 - LSEG data
Jefferies says despite the multitude of free (AI) solutions on the market, Chegg still offers a unique value proposition
Stock down 98.7% from record high touched in 2021
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