Chegg (CHGG) to Release Quarterly Earnings on Monday

Chegg (NYSE:CHGG – Get Rating) is set to release its earnings data after the market closes on Monday, May 2nd. Analysts expect Chegg to post earnings of $0.07 per share for the quarter. Chegg has set its Q1 2022 guidance at EPS and its FY 2022 guidance at EPS.Investors interested in participating in the company’s conference call can do so using this link.

Chegg (NYSE:CHGG – Get Rating) last released its quarterly earnings results on Monday, February 7th. The technology company reported $0.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.06. Chegg had a positive return on equity of 8.17% and a negative net margin of 0.19%. The firm had revenue of $207.47 million for the quarter, compared to the consensus estimate of $195.20 million. During the same quarter last year, the business posted $0.37 EPS. The company’s revenue for the quarter was up .8% on a year-over-year basis. On average, analysts expect Chegg to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

CHGG opened at $26.74 on Monday. Chegg has a 1 year low of $23.23 and a 1 year high of $96.94. The company has a debt-to-equity ratio of 1.52, a current ratio of 14.19 and a quick ratio of 14.19. The company has a market capitalization of $3.39 billion, a price-to-earnings ratio of -297.08, a P/E/G ratio of 2.58 and a beta of 0.92. The business’s 50-day moving average price is $32.26 and its two-hundred day moving average price is $33.76.

A number of research firms recently commented on CHGG. Morgan Stanley lifted their price target 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 boosted their price objective 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. Zacks Investment Research upgraded Chegg from a “sell” rating to a “hold” rating in a report on Friday, February 11th. Finally, KeyCorp cut Chegg from an “overweight” rating to a “sector weight” rating in a report on Tuesday, April 12th. Eleven analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $66.92.

Several hedge funds have recently added to or reduced their stakes in the company. Metropolitan Life Insurance Co NY raised its holdings in shares of Chegg by 8.5% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 7,919 shares of the technology company’s stock worth $243,000 after acquiring an additional 621 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of Chegg by 35.1% in the 4th quarter. Canada Pension Plan Investment Board now owns 5,087 shares of the technology company’s stock worth $156,000 after acquiring an additional 1,322 shares during the last quarter. Amalgamated Bank raised its holdings in shares of Chegg by 13.4% in the 4th quarter. Amalgamated Bank now owns 29,341 shares of the technology company’s stock worth $901,000 after acquiring an additional 3,471 shares during the last quarter. Schonfeld Strategic Advisors LLC raised its holdings in shares of Chegg by 81.8% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 12,000 shares of the technology company’s stock worth $368,000 after acquiring an additional 5,400 shares during the last quarter. Finally, Lombard Odier Asset Management USA Corp acquired a new stake in shares of Chegg in the 4th quarter worth about $250,000. 87.98% of the stock is currently owned by institutional investors.

About Chegg (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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