Chegg (NYSE:CHGG) issued its quarterly earnings data on Sunday. The technology company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.02), MarketWatch Earnings reports. The business had revenue of $198.40 million during the quarter, compared to analyst estimates of $184.59 million. Chegg had a positive return on equity of 13.35% and a negative net margin of 4.26%. Chegg's revenue for the quarter was up 50.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.22 EPS.
CHGG opened at $83.01 on Tuesday. The company has a fifty day moving average price of $90.07 and a 200-day moving average price of $88.74. The firm has a market capitalization of $11.77 billion, a P/E ratio of -415.05, a price-to-earnings-growth ratio of 3.14 and a beta of 0.99. The company has a debt-to-equity ratio of 2.38, a current ratio of 9.09 and a quick ratio of 9.09. Chegg has a one year low of $41.24 and a one year high of $115.21.
CHGG has been the subject of several analyst reports. BMO Capital Markets boosted their target price on shares of Chegg from $91.00 to $106.00 and gave the company a "market perform" rating in a research report on Tuesday, February 9th. Morgan Stanley boosted their target price on shares of Chegg from $105.00 to $115.00 and gave the company an "overweight" rating in a research report on Tuesday, February 9th. Craig Hallum boosted their target price on shares of Chegg from $105.00 to $125.00 and gave the company a "buy" rating in a research report on Tuesday, February 9th. Bank of America boosted their target price on shares of Chegg from $100.00 to $115.00 and gave the company a "buy" rating in a research report on Thursday, January 14th. Finally, Needham & Company LLC restated a "buy" rating and issued a $120.00 target price on shares of Chegg in a research report on Monday, March 22nd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the company. Chegg presently has an average rating of "Buy" and a consensus target price of $104.78.
In related news, insider John Paul Fillmore sold 19,714 shares of the company's stock in a transaction on Tuesday, April 13th. The shares were sold at an average price of $90.79, for a total value of $1,789,834.06. Following the completion of the transaction, the insider now directly owns 138,146 shares in the company, valued at $12,542,275.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nathan J. Schultz sold 30,000 shares of the company's stock in a transaction on Monday, April 26th. The stock was sold at an average price of $95.26, for a total transaction of $2,857,800.00. Following the completion of the transaction, the insider now owns 257,127 shares of the company's stock, valued at $24,493,918.02. The disclosure for this sale can be found here. Insiders have sold a total of 465,668 shares of company stock valued at $45,003,983 over the last 90 days. Company insiders own 3.10% of the company's stock.
Chegg Company Profile
Chegg, Inc engages in the operations of learning platform for students. It intends to empower students to take control of their education and help the students study, college admissions exams, accomplish their goals, get grades and test scores. The firm offers required and non-required scholastic materials including textbooks in any format, access to online homework help and textbook solutions, course organization and scheduling, college and university matching tools and scholarship connections.
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