Piper Sandler analyst Arvind Ramnani lowered the firm’s price target on Chegg (CHGG) to $1 from $1.50 and keeps an Underweight rating on the shares. The firm notes Chegg’s Q4 revenue results were in-line with the Street’s lowered expectations, while adjusted EBITDA came in sightly above the Street. Subscribers continued to decline, sliding to 3.6M from 3.8M in Q3 2024, 4.4M in Q2 2024 and 4.6M in Q4 2023 given continued industry pressures and competitive dynamics.
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