Q2 2024 EPS Estimates for Chegg, Inc. Decreased by Analyst (NYSE:CHGG)

Chegg, Inc. (NYSE:CHGG) – Equities research analysts at Barrington Research reduced their Q2 2024 earnings per share (EPS) estimates for Chegg in a report issued on Tuesday, April 30th. Barrington Research analyst A. Paris now forecasts that the technology company will post earnings per share of $0.02 for the quarter, down from their previous forecast of $0.08. The consensus estimate for Chegg’s current full-year earnings is $0.26 per share. Barrington Research also issued estimates for Chegg’s Q3 2024 earnings at $0.00 EPS, FY2024 earnings at $0.29 EPS and FY2025 earnings at $0.49 EPS.

Several other equities research analysts have also recently commented on CHGG. Jefferies Financial Group cut Chegg from a “hold” rating to an “underperform” rating and dropped their price objective for the company from $7.00 to $4.00 in a research report on Tuesday. The Goldman Sachs Group dropped their price objective on Chegg from $8.00 to $7.00 and set a “sell” rating on the stock in a research report on Tuesday, February 6th. Piper Sandler Companies cut Chegg to an “underweight” rating and dropped their price objective for the company from $9.00 to $8.50 in a research report on Tuesday, February 6th. JPMorgan Chase & Co. dropped their target price on Chegg from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 6th. Finally, StockNews.com raised Chegg from a “hold” rating to a “buy” rating in a research report on Tuesday, January 23rd. Five equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $7.31.

Chegg Trading Up 0.6 %

Chegg stock opened at $5.24 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.92 and a quick ratio of 0.80. Chegg has a one year low of $4.96 and a one year high of $13.11. The stock has a market capitalization of $535.62 million, a PE ratio of -27.58, a price-to-earnings-growth ratio of 1.05 and a beta of 1.35. The business’s fifty day moving average is $7.45 and its 200 day moving average is $8.99.

Chegg (NYSE:CHGG) last announced its quarterly earnings results on Monday, February 5th. The technology company reported $0.36 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.36. Chegg had a return on equity of 0.87% and a net margin of 2.07%. The firm had revenue of $187.99 million for the quarter, compared to the consensus estimate of $185.94 million. During the same period in the prior year, the company posted $0.16 earnings per share. The company’s quarterly revenue was down 8.4% on a year-over-year basis.

Hedge Funds Weigh In On Chegg

Several large investors have recently added to or reduced their stakes in CHGG. SG Americas Securities LLC bought a new stake in shares of Chegg during the 3rd quarter valued at $437,000. Commonwealth Equity Services LLC increased its stake in Chegg by 2.6% in the 3rd quarter. Commonwealth Equity Services LLC now owns 70,415 shares of the technology company’s stock worth $628,000 after buying an additional 1,768 shares in the last quarter. Robeco Institutional Asset Management B.V. bought a new stake in Chegg during the third quarter valued at about $1,261,000. Mackenzie Financial Corp purchased a new position in shares of Chegg in the third quarter valued at about $549,000. Finally, Bordeaux Wealth Advisors LLC boosted its stake in shares of Chegg by 11.4% in the third quarter. Bordeaux Wealth Advisors LLC now owns 54,534 shares of the technology company’s stock worth $486,000 after acquiring an additional 5,584 shares during the period. 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.