Chegg Inc (NYSE:CHGG) shares traded lower Tuesday following a downgrade from Keybanc.
Keybanc analyst Jason Celino downgraded Chegg from an Overweight rating to a Sector Weight rating after noticing a downturn in growth trends in Chegg's credit and debit transactions.
Although Celino acknowledges that international prospects remain strong, the Keybanc analyst believes consistent growth in the U.S. is needed in order to be re-rated higher.
Related Link: Read Why KeyBanc Is Cautious On Chegg
Chegg is an American educational services company that specializes in textbook rentals, course assistance and online tutoring.
CHGG 52-Week Range: $23.23 - $96.94
According to data from Benzinga Pro, the stock closed down 8.44% at $32.31 on Tuesday.
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