Q1 2023 Earnings Estimate for Chegg, Inc. (NYSE:CHGG) Issued By KeyCorp

Chegg, Inc. (NYSE:CHGGGet Rating) – Analysts at KeyCorp reduced their Q1 2023 earnings per share (EPS) estimates for shares of Chegg in a research report issued to clients and investors on Monday, April 11th. KeyCorp analyst J. Celino now anticipates that the technology company will earn $0.20 per share for the quarter, down from their prior forecast of $0.21. KeyCorp currently has a “Sector Weight” rating on the stock. KeyCorp also issued estimates for Chegg’s FY2023 earnings at $1.02 EPS.

Other analysts have also issued research reports about the company. Zacks Investment Research upgraded Chegg from a “sell” rating to a “hold” rating in a report on Friday, February 11th. Morgan Stanley upped their target price on Chegg from $35.00 to $37.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 8th. Piper Sandler upped their target price on Chegg from $43.00 to $44.00 and gave the stock an “overweight” rating in a report on Tuesday, February 8th. StockNews.com started coverage on Chegg in a report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Craig Hallum lowered their target price on Chegg from $50.00 to $35.00 and set a “hold” rating for the company in a report on Tuesday, February 8th. Eleven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $66.92.

Shares of NYSE CHGG opened at $32.32 on Wednesday. The company has a debt-to-equity ratio of 1.52, a quick ratio of 14.19 and a current ratio of 14.19. The firm has a market capitalization of $4.36 billion, a price-to-earnings ratio of -359.07, a PEG ratio of 3.24 and a beta of 0.92. The stock has a 50 day moving average price of $32.07 and a 200 day moving average price of $36.15. Chegg has a 52-week low of $23.23 and a 52-week high of $96.94.

Chegg (NYSE:CHGGGet Rating) last announced its quarterly earnings results on Monday, February 7th. The technology company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.06. The firm had revenue of $207.47 million during the quarter, compared to analyst estimates of $195.20 million. Chegg had a positive return on equity of 8.17% and a negative net margin of 0.19%. Chegg’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.37 earnings per share.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. KRS Capital Management LLC acquired a new position in shares of Chegg in the 4th quarter valued at $45,000. Quadrant Capital Group LLC grew its position in Chegg by 2,703.8% during the 4th quarter. Quadrant Capital Group LLC now owns 1,486 shares of the technology company’s stock worth $46,000 after purchasing an additional 1,433 shares during the period. Signaturefd LLC grew its position in Chegg by 501.9% during the 4th quarter. Signaturefd LLC now owns 3,202 shares of the technology company’s stock worth $98,000 after purchasing an additional 2,670 shares during the period. Stephens Inc. AR grew its position in Chegg by 14.3% during the 3rd quarter. Stephens Inc. AR now owns 1,699 shares of the technology company’s stock worth $116,000 after purchasing an additional 212 shares during the period. Finally, CastleArk Alternatives LLC acquired a new stake in Chegg during the 3rd quarter worth about $147,000. 87.98% of the stock is currently owned by hedge funds and other institutional investors.

Chegg Company Profile (Get Rating)

Chegg, Inc operates direct-to-student learning platform that supports students starting with their academic journey and extending into their careers with products and services to support and help them better understand their academic course materials. The company offers Chegg Services, which include subscription services; and required materials that comprise its print textbooks and eTextbooks.

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Earnings History and Estimates for Chegg (NYSE:CHGG)

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