Chegg (NYSE:CHGG) Announces Quarterly Earnings Results

Chegg (NYSE:CHGG) announced its earnings results 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 analysts’ expectations of $134.12 million. During the same quarter in the prior year, the firm earned ($0.07) earnings per share. The business’s revenue was down 13.5% compared to the same quarter last year. Chegg updated its Q4 2024 guidance to EPS.

Chegg Trading Up 8.5 %

NYSE:CHGG opened at $1.72 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.89 and a current ratio of 0.89. Chegg has a 1 year low of $1.34 and a 1 year high of $11.48. The stock has a market capitalization of $175.31 million, a price-to-earnings ratio of -0.21, a PEG ratio of 0.63 and a beta of 1.32. The stock has a fifty day moving average price of $1.70 and a two-hundred day moving average price of $2.74.

Wall Street Analyst Weigh In

Several research firms recently commented on CHGG. Needham & Company LLC reaffirmed a “hold” rating on shares of Chegg in a report on Wednesday. Piper Sandler lowered their target price on Chegg from $2.00 to $1.50 and set an “underweight” rating for the company in a report on Thursday. Craig Hallum cut their price target on shares of Chegg from $3.00 to $1.50 and set a “hold” rating on the stock in a research note on Wednesday. StockNews.com lowered shares of Chegg from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, Morgan Stanley reduced their price objective on Chegg from $3.25 to $3.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 6th. Three analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to data from MarketBeat.com, Chegg 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.