Equities Analysts Offer Predictions for Chegg, Inc.’s Q4 2024 Earnings (NYSE:CHGG)

Chegg, Inc. (NYSE:CHGG) – Investment analysts at Barrington Research boosted their Q4 2024 earnings per share (EPS) estimates for shares of Chegg in a research report issued on Tuesday, April 9th. Barrington Research analyst A. Paris now anticipates that the technology company will post earnings of $0.21 per share for the quarter, up from their prior forecast of $0.18. The consensus estimate for Chegg’s current full-year earnings is $0.24 per share.

A number of other equities research analysts have also recently commented on CHGG. BMO Capital Markets cut their target price on Chegg from $11.00 to $10.00 and set a “market perform” rating on the stock in a research note on Tuesday, February 6th. JPMorgan Chase & Co. reduced their price objective on Chegg from $10.00 to $9.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 6th. StockNews.com upgraded Chegg from a “hold” rating to a “buy” rating in a report on Tuesday, January 23rd. Piper Sandler cut Chegg from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $9.00 to $8.50 in a report on Tuesday, February 6th. Finally, Piper Sandler Companies cut Chegg to an “underweight” rating and lowered their target price for the stock from $9.00 to $8.50 in a report on Tuesday, February 6th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Chegg has an average rating of “Hold” and a consensus price target of $10.22.

Chegg Price Performance

CHGG opened at $7.50 on Wednesday. The stock has a fifty day simple moving average of $8.27 and a two-hundred day simple moving average of $9.23. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.26. The company has a market cap of $772.13 million, a price-to-earnings ratio of -46.88, a price-to-earnings-growth ratio of 1.49 and a beta of 1.26. Chegg has a 12-month low of $6.98 and a 12-month high of $18.77.

Chegg (NYSE:CHGG) last posted its earnings results on Monday, February 5th. The technology company reported $0.36 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.36. Chegg had a return on equity of 1.27% and a net margin of 2.54%. The firm had revenue of $187.99 million for the quarter, compared to analysts’ expectations of $185.94 million. During the same period in the previous year, the firm earned $0.16 earnings per share. The business’s revenue was down 8.4% compared to the same quarter last year.

Institutional Trading of Chegg

Hedge funds have recently modified their holdings of the stock. Captrust Financial Advisors boosted its position in Chegg by 79.6% during the first quarter. Captrust Financial Advisors now owns 2,012 shares of the technology company’s stock worth $73,000 after purchasing an additional 892 shares in the last quarter. Virtus Fund Advisers LLC purchased a new position in Chegg during the fourth quarter worth approximately $29,000. Point72 Asset Management L.P. purchased a new position in Chegg during the second quarter worth approximately $25,000. AM Squared Ltd acquired a new position in shares of Chegg during the first quarter valued at approximately $47,000. Finally, Headlands Technologies LLC acquired a new position in shares of Chegg during the fourth quarter valued at approximately $48,000. Hedge funds and other institutional investors own 95.18% of the company’s stock.

About Chegg

Chegg, Inc operates a direct-to-student learning platform that helps learners build essential life and job skills to accelerate their path from learning programs in the United States and internationally. Its subscription services include Chegg Study, which offers personalized step-by-step learning support from AI, computational engines, and subject matter experts, as well as Tinger Gold and DashPash Student services; Chegg Writing that provides students with a suite of tools, such as plagiarism detection scans, grammar and writing fluency checking, expert personalized writing feedback, and premium citation generation; Chegg Math, a step-by-step math problem solver and calculator that helps students to solve problems; Chegg Study Pack, a bundle of various subscription product offerings, including Chegg Study, Chegg Writing, and Chegg Math services; and Busuu, an online language learning platform that offers comprehensive support through self-paced lessons, live classes with expert tutors, and a community of members to practice alongside.