Chegg (NYSE:CHGG) Releases Earnings Results, Beats Expectations By $0.03 EPS

Chegg (NYSE:CHGG) released its quarterly earnings data on Tuesday. The technology company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03, Briefing.com reports. Chegg had a positive return on equity of 1.91% and a negative net margin of 124.05%. The business had revenue of $136.59 million during the quarter, compared to the consensus estimate of $134.12 million. During the same quarter in the prior year, the company posted ($0.07) earnings per share. The firm’s revenue was down 13.5% on a year-over-year basis. Chegg updated its Q4 2024 guidance to EPS.

Chegg Trading Up 5.1 %

NYSE CHGG traded up $0.08 during mid-day trading on Thursday, reaching $1.66. 3,132,505 shares of the stock were exchanged, compared to its average volume of 3,612,116. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a 50 day simple moving average of $1.71 and a 200-day simple moving average of $2.74. The stock has a market cap of $169.69 million, a P/E ratio of -0.21, a P/E/G ratio of 0.63 and a beta of 1.32. Chegg has a one year low of $1.34 and a one year high of $11.48.

Wall Street Analysts Forecast Growth

CHGG has been the subject of a number of recent research reports. Northland Securities reduced their price target on Chegg from $4.00 to $3.00 and set a “market perform” rating for the company in a research report on Wednesday. Morgan Stanley reduced their target price on Chegg from $3.25 to $3.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 6th. The Goldman Sachs Group reduced their price target on Chegg from $3.75 to $1.75 and set a “neutral” rating for the company in a research note on Thursday. Piper Sandler reduced their target price on shares of Chegg from $2.00 to $1.50 and set an “underweight” rating for the company in a research report on Thursday. Finally, StockNews.com cut Chegg from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Three research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $4.69.

Chegg Company Profile

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.