Chegg (CHGG) Stock Forecast, Price & News

12 Wall Street 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 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 brokerages have issued 1-year price targets for Chegg's shares. Their CHGG share price forecasts range from $11.00 to $29.00. On average, they predict the company's share price to reach $18.77 in the next twelve months. This suggests a possible upside of 97.2% from the stock's current price.
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Chegg's stock was trading at $25.27 at the beginning of 2023. Since then, CHGG stock has decreased by 62.3% and is now trading at $9.52.
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Chegg saw a decline in short interest in the month of May. As of May 15th, there was short interest totaling 9,180,000 shares, a decline of 10.6% from the April 30th total of 10,270,000 shares. Based on an average trading volume of 4,440,000 shares, the days-to-cover ratio is currently 2.1 days. Approximately 7.9% of the shares of the stock are sold short.
View Chegg's Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Thursday, August 3rd 2023.
View our CHGG earnings forecast.

Chegg, Inc. (NYSE:CHGG) released its quarterly earnings data on Monday, February, 6th. The technology company reported $0.40 EPS for the quarter, topping analysts' consensus estimates of $0.39 by $0.02. The technology company had revenue of $205.19 million for the quarter, compared to the consensus estimate of $202.10 million. Chegg had a net margin of 34.97% and a trailing twelve-month return on equity of 4.82%. Chegg's quarterly revenue was down 1.1% on a year-over-year basis. During the same period last year, the firm posted $0.19 earnings per share.

ETFs with the largest weight of Chegg (NYSE:CHGG) stock in their portfolio include Global X Education ETF (EDUT), Amplify Online Retail ETF (IBUY), iShares Virtual Work and Life Multisector ETF (IWFH), WisdomTree Growth Leaders Fund (PLAT), RiverFront Dynamic US Flex-Cap ETF (RFFC), First Trust Small Cap Growth AlphaDEX Fund (FYC), Principal U.S. Small-Cap Multi-Factor ETF (PSC) and Nuveen ESG Small-Cap ETF (NUSC).

Chegg updated its second quarter 2023 earnings guidance on Monday, May, 1st. The company provided EPS guidance of for the period. The company issued revenue guidance of $175.00 million-$178.00 million, compared to the consensus revenue estimate of $193.64 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 many different retail and institutional investors. Top institutional investors include Baillie Gifford & Co. (11.25%), Sands Capital Management LLC (6.46%), Sylebra Capital Ltd (3.06%), Fred Alger Management LLC (2.67%), Dimensional Fund Advisors LP (2.46%) and Clearbridge Investments LLC (2.41%). 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 $9.52.

Chegg (NYSE:CHGG) has a market capitalization of $1.14 billion and generates $766.90 million in revenue each year. The technology company earns $266.64 million in net income (profit) each year or $1.32 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.