Chegg, Inc. (NYSE:CHGG) Expected to Post Q4 2024 Earnings of $0.21 Per Share

Chegg, Inc. (NYSE:CHGG - Free Report) - Equities research analysts at Barrington Research boosted their Q4 2024 earnings per share (EPS) estimates for shares of Chegg in a note issued to investors on Tuesday, April 9th. Barrington Research analyst A. Paris now expects that the technology company will earn $0.21 per share for the quarter, up from their previous forecast of $0.18. The consensus estimate for Chegg's current full-year earnings is $0.24 per share.

Chegg (NYSE:CHGG - Get Free Report) last posted its quarterly earnings results on Monday, February 5th. The technology company reported $0.36 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 during the quarter, compared to analysts' expectations of $185.94 million. During the same quarter in the prior year, the firm posted $0.16 EPS. The company's revenue for the quarter was down 8.4% on a year-over-year basis.

Several other brokerages also recently commented on CHGG. BMO Capital Markets dropped their price objective 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. Piper Sandler downgraded Chegg from a "neutral" rating to an "underweight" rating and dropped their price objective for the stock from $9.00 to $8.50 in a research note on Tuesday, February 6th. StockNews.com raised Chegg from a "hold" rating to a "buy" rating in a research note on Tuesday, January 23rd. JPMorgan Chase & Co. dropped 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. Finally, The Goldman Sachs Group dropped their price target on Chegg from $8.00 to $7.00 and set a "sell" rating on the stock in a research note on Tuesday, February 6th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $10.22.

Chegg Price Performance

NYSE CHGG traded down $0.09 during trading hours on Wednesday, reaching $7.50. 2,394,461 shares of the company's stock were exchanged, compared to its average volume of 2,732,979. The firm has a fifty day moving average of $8.27 and a 200-day 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 stock has a market cap of $772.13 million, a PE ratio of -46.88, a price-to-earnings-growth ratio of 1.49 and a beta of 1.26. Chegg has a one year low of $6.98 and a one year high of $18.77.

Institutional Investors Weigh In On Chegg

Hedge funds have recently bought and sold shares of the stock. Acadian Asset Management LLC raised its position in shares of Chegg by 185.5% in the third quarter. Acadian Asset Management LLC now owns 294,208 shares of the technology company's stock valued at $2,621,000 after buying an additional 191,165 shares in the last quarter. Trexquant Investment LP acquired a new stake in shares of Chegg in the third quarter valued at approximately $3,907,000. AQR Capital Management LLC raised its position in shares of Chegg by 75.4% in the third quarter. AQR Capital Management LLC now owns 693,676 shares of the technology company's stock valued at $6,188,000 after buying an additional 298,194 shares in the last quarter. Graham Capital Management L.P. raised its position in shares of Chegg by 28.2% in the third quarter. Graham Capital Management L.P. now owns 126,457 shares of the technology company's stock valued at $1,128,000 after buying an additional 27,813 shares in the last quarter. Finally, Hsbc Holdings PLC raised its position in shares of Chegg by 114.4% in the third quarter. Hsbc Holdings PLC now owns 262,562 shares of the technology company's stock valued at $2,347,000 after buying an additional 140,113 shares in the last quarter. 95.18% of the stock is currently owned by institutional investors and hedge funds.

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.