Chegg (CHGG) Stock Forecast, Price & News

12 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Chegg in the last year. There are currently 10 hold ratings and 2 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "hold" CHGG shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in CHGG, but not buy additional shares or sell existing shares.
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12 analysts have issued 12-month price targets for Chegg's shares. Their CHGG share price forecasts range from $11.00 to $29.00. On average, they expect the company's stock price to reach $18.62 in the next twelve months. This suggests a possible upside of 108.2% from the stock's current price.
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Chegg's stock was trading at $25.27 at the beginning of the year. Since then, CHGG shares have decreased by 64.6% and is now trading at $8.94.
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Chegg saw a decrease in short interest during the month of August. As of August 15th, there was short interest totaling 5,360,000 shares, a decrease of 11.0% from the July 31st total of 6,020,000 shares. Based on an average daily volume of 3,240,000 shares, the days-to-cover ratio is presently 1.7 days. Approximately 4.8% of the company's stock are short sold.
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The company is scheduled to release its next quarterly earnings announcement on Tuesday, November 7th 2023.
View our CHGG earnings forecast.

Chegg, Inc. (NYSE:CHGG) announced its quarterly earnings data on Monday, August, 7th. The technology company reported $0.01 earnings per share for the quarter, missing analysts' consensus estimates of $0.02 by $0.01. The technology company had revenue of $182.85 million for the quarter, compared to analysts' expectations of $176.19 million. Chegg had a trailing twelve-month return on equity of 2.48% and a net margin of 37.85%.

ETFs with the largest weight of Chegg (NYSE:CHGG) stock in their portfolio include Amplify Online Retail ETF (IBUY), Global X Education ETF (EDUT), Harbor Corporate Culture Small Cap ETF (HAPS), iShares Virtual Work and Life Multisector ETF (IWFH) and First Trust Small Cap Value AlphaDEX Fund (FYT).First Trust Small Cap Core AlphaDEX Fund (FYX).

Chegg issued an update on its third quarter 2023 earnings guidance on Monday, August, 7th. The company provided earnings per share guidance of for the period. The company issued revenue guidance of $151.00 million-$153.00 million, compared to the consensus revenue estimate of $152.37 million.

382 employees have rated Chegg Chief Executive Officer Dan Rosensweig on Glassdoor.com. Dan Rosensweig has an approval rating of 91% among the company's employees. This puts Dan Rosensweig in the top 30% of approval ratings compared to other CEOs of publicly-traded companies.

Based on aggregate information from My MarketBeat watchlists, some companies that other Chegg investors own include NVIDIA (NVDA), Advanced Micro Devices (AMD), Block (SQ), Tesla (TSLA), DocuSign (DOCU), Salesforce (CRM), PayPal (PYPL), Zoom Video Communications (ZM), Netflix (NFLX) and Teladoc Health (TDOC).

Chegg trades on the New York Stock Exchange (NYSE) under the ticker symbol "CHGG."

Chegg's stock is owned by a variety of retail and institutional investors. Top institutional shareholders include Baillie Gifford & Co. (8.91%), Sylebra Capital Ltd (7.78%), Sands Capital Management LLC (6.57%), Geode Capital Management LLC (2.01%), Dimensional Fund Advisors LP (1.78%) and Burgundy Asset Management Ltd. (1.53%). Insiders that own company stock include Daniel Rosensweig, Esther Lem, John E York, John Paul Fillmore, Nathan J Schultz, Paul Leblanc, Robin Tomasello and Ted Schlein.
View institutional ownership trends.

Shares of CHGG stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of CHGG stock can currently be purchased for approximately $8.94.

Chegg (NYSE:CHGG) has a market capitalization of $1.03 billion and generates $766.90 million in revenue each year. The technology company earns $266.64 million in net income (profit) each year or $1.15 on an earnings per share basis.

The company employs 1,953 workers across the globe.

Chegg's mailing address is 3990 FREEDOM CIRCLE, SANTA CLARA CA, 95054. The official website for the company is www.chegg.com. The technology company can be reached via phone at (408) 855-5700 or via email at ir@chegg.com.