Fears around ChatGPT impact on Chegg ‘more bark than bite,’ says Jefferies

After having stress-tested ChatGPT’s academic abilities, Jefferies analyst Brent Thill said the firm "found it to be an unreliable replacement for college-level STEM help" and thinks this should limit any near-term impact on revenue at Chegg. While the firm contends that concerns about ChatGPT are "more bark than bite," it anticipates that fears around ChatGPT will remain a near-term overhang on shares. Jefferies has a Buy rating and $30 price target on Chegg.