Chegg (CHGG) Set to Announce Quarterly Earnings on Monday

Chegg (NYSE:CHGG) is scheduled to be issuing its quarterly earnings data after the market closes on Monday, April 29th. Analysts expect the company to announce earnings of $0.24 per share for the quarter. Chegg has set its Q1 2024 guidance at EPS.Parties interested in participating in the company’s conference call can do so using this link.

Chegg (NYSE:CHGG) last issued its quarterly earnings results on Monday, February 5th. The technology company reported $0.36 earnings per share 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 during the quarter, compared to the consensus estimate of $185.94 million. During the same period last year, the company earned $0.16 earnings per share. The company’s revenue was down 8.4% on a year-over-year basis. On average, analysts expect Chegg to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Chegg Price Performance

Shares of NYSE:CHGG opened at $7.09 on Monday. Chegg has a 1-year low of $6.63 and a 1-year high of $18.77. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.80 and a quick ratio of 0.80. The business has a fifty day moving average price of $7.98 and a 200-day moving average price of $9.14. The company has a market capitalization of $729.92 million, a PE ratio of -44.31, a PEG ratio of 1.38 and a beta of 1.26.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Alliancebernstein L.P. lifted its position in shares of Chegg by 0.5% during the 3rd quarter. Alliancebernstein L.P. now owns 150,866 shares of the technology company’s stock valued at $3,179,000 after buying an additional 720 shares in the last quarter. Captrust Financial Advisors lifted its holdings in Chegg by 79.6% in the 1st 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. Vident Advisory LLC lifted its holdings in Chegg by 8.3% in the 4th quarter. Vident Advisory LLC now owns 23,149 shares of the technology company’s stock worth $263,000 after purchasing an additional 1,780 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in Chegg by 58.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 5,539 shares of the technology company’s stock worth $49,000 after purchasing an additional 2,043 shares in the last quarter. Finally, Virtus Fund Advisers LLC purchased a new position in Chegg in the 4th quarter worth approximately $29,000. 95.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CHGG has been the subject of several analyst reports. JPMorgan Chase & Co. reduced their price target on Chegg from $10.00 to $9.00 and set a “neutral” rating for the company in a report on Tuesday, February 6th. The Goldman Sachs Group reduced their price objective on Chegg from $8.00 to $7.00 and set a “sell” rating for the company in a report on Tuesday, February 6th. Morgan Stanley reduced their price objective on Chegg from $8.50 to $7.00 and set an “underweight” rating for the company in a report on Friday. StockNews.com upgraded Chegg from a “hold” rating to a “buy” rating in a report on Tuesday, January 23rd. Finally, Piper Sandler Companies downgraded Chegg to an “underweight” rating and reduced their price objective for the stock from $9.00 to $8.50 in a report on Tuesday, February 6th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $10.00.

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.