Research Analysts Offer Predictions for Chegg, Inc.’s Q2 2022 Earnings (NYSE:CHGG)

Chegg, Inc. (NYSE:CHGGGet Rating) – Equities research analysts at Barrington Research issued their Q2 2022 earnings estimates for shares of Chegg in a report issued on Tuesday, May 3rd. Barrington Research analyst A. Paris. Jr anticipates that the technology company will earn $0.13 per share for the quarter. Barrington Research also issued estimates for Chegg’s Q3 2022 earnings at ($0.09) EPS.

Other equities research analysts have also recently issued reports about the stock. Piper Sandler cut shares of Chegg from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $44.00 to $21.00 in a research note on Tuesday. Morgan Stanley decreased their price target on shares of Chegg from $37.00 to $20.00 in a research note on Tuesday. Zacks Investment Research raised shares of Chegg from a “sell” rating to a “hold” rating in a research note on Friday, February 11th. Northland Securities decreased their price target on shares of Chegg from $45.00 to $27.00 in a research note on Tuesday. Finally, William Blair cut shares of Chegg from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Thirteen equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $42.91.

Shares of NYSE CHGG opened at $19.51 on Friday. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of 44.34, a PEG ratio of 1.66 and a beta of 1.11. Chegg has a 52 week low of $15.66 and a 52 week high of $90.50. The company’s 50-day moving average price is $31.18 and its 200 day moving average price is $31.71. The company has a current ratio of 8.02, a quick ratio of 14.19 and a debt-to-equity ratio of 2.08.

Chegg (NYSE:CHGGGet Rating) last issued its quarterly earnings data on Monday, May 2nd. The technology company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.08. Chegg had a net margin of 8.90% and a return on equity of 8.71%. During the same period in the previous year, the business posted $0.13 EPS.

Hedge funds and other institutional investors have recently bought and sold shares of the company. KRS Capital Management LLC acquired a new position in shares of Chegg during the fourth quarter worth $45,000. Quadrant Capital Group LLC increased its stake in Chegg by 2,703.8% during the fourth quarter. Quadrant Capital Group LLC now owns 1,486 shares of the technology company’s stock valued at $46,000 after purchasing an additional 1,433 shares during the last quarter. Signaturefd LLC increased its stake in Chegg by 501.9% during the fourth quarter. Signaturefd LLC now owns 3,202 shares of the technology company’s stock valued at $98,000 after purchasing an additional 2,670 shares during the last quarter. CastleArk Alternatives LLC bought a new stake in Chegg during the third quarter valued at $147,000. Finally, Benjamin F. Edwards & Company Inc. increased its stake in Chegg by 115.3% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 4,827 shares of the technology company’s stock valued at $148,000 after purchasing an additional 2,585 shares during the last quarter.

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.

See Also

Earnings History and Estimates for Chegg (NYSE:CHGG)

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