Chegg, Inc. (NYSE:CHGG - Free Report) - Analysts at Barrington Research upped their Q1 2024 earnings per share estimates for Chegg in a note issued to investors on Tuesday, April 9th. Barrington Research analyst A. Paris now forecasts that the technology company will post earnings per share of $0.05 for the quarter, up from their previous forecast of $0.03. The consensus estimate for Chegg's current full-year earnings is $0.24 per share. Barrington Research also issued estimates for Chegg's Q2 2024 earnings at $0.08 EPS, Q3 2024 earnings at $0.02 EPS, FY2024 earnings at $0.36 EPS and FY2025 earnings at $0.50 EPS.
Chegg (NYSE:CHGG - Get Free Report) last announced its quarterly earnings data on Monday, February 5th. The technology company reported $0.36 earnings per share for the quarter, hitting analysts' consensus estimates of $0.36. The firm had revenue of $187.99 million for the quarter, compared to analyst estimates of $185.94 million. Chegg had a return on equity of 1.27% and a net margin of 2.54%. Chegg's quarterly revenue was down 8.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.16 earnings per share.
Several other brokerages have also commented on CHGG. BMO Capital Markets decreased their price target 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. JPMorgan Chase & Co. decreased their price objective on shares of Chegg from $10.00 to $9.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 6th. Piper Sandler Companies downgraded shares of Chegg to an "underweight" rating and dropped their target price for the company from $9.00 to $8.50 in a report on Tuesday, February 6th. Piper Sandler downgraded shares of Chegg from a "neutral" rating to an "underweight" rating and reduced their price target for the company from $9.00 to $8.50 in a report on Tuesday, February 6th. Finally, StockNews.com raised shares of Chegg from a "hold" rating to a "buy" rating in a research note on Tuesday, January 23rd. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $10.22.
Check Out Our Latest Analysis on Chegg
Chegg Price Performance
CHGG stock traded down $0.05 during trading on Thursday, reaching $7.45. 1,929,620 shares of the company were exchanged, compared to its average volume of 2,721,502. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.80 and a current ratio of 0.80. The stock's 50 day moving average price is $8.22 and its 200 day moving average price is $9.22. Chegg has a 52-week low of $6.98 and a 52-week high of $18.77. The company has a market cap of $766.46 million, a P/E ratio of -46.53, a PEG ratio of 1.49 and a beta of 1.26.
Institutional Trading of Chegg
Institutional investors have recently made changes to their positions in the stock. Captrust Financial Advisors boosted its holdings in Chegg by 79.6% in the first quarter. Captrust Financial Advisors now owns 2,012 shares of the technology company's stock valued at $73,000 after acquiring an additional 892 shares during the last quarter. Virtus Fund Advisers LLC acquired a new position in shares of Chegg in the 4th quarter valued at about $29,000. Point72 Asset Management L.P. purchased a new stake in shares of Chegg during the 2nd quarter worth about $25,000. AM Squared Ltd acquired a new stake in Chegg during the 1st quarter worth approximately $47,000. Finally, Headlands Technologies LLC purchased a new position in Chegg in the fourth quarter valued at approximately $48,000. 95.18% of the stock is owned by hedge funds and other institutional investors.
About Chegg
(
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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.
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