Chegg - CHGG Stock Forecast, Price & News

14 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Chegg in the last year. There are currently 10 hold ratings and 4 buy ratings for the stock. The consensus among Wall Street 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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14 analysts have issued 12 month target prices for Chegg's shares. Their CHGG share price forecasts range from $18.00 to $55.00. On average, they predict the company's share price to reach $29.25 in the next year. This suggests that the stock has a possible downside of 1.5%.
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Chegg's stock was trading at $30.70 at the beginning of 2022. Since then, CHGG stock has decreased by 3.3% and is now trading at $29.69.
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Chegg saw a decline in short interest in the month of November. As of November 15th, there was short interest totaling 4,680,000 shares, a decline of 13.2% from the October 31st total of 5,390,000 shares. Based on an average trading volume of 1,640,000 shares, the days-to-cover ratio is presently 2.9 days. Approximately 3.8% of the shares of the company are short sold.
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The company is scheduled to release its next quarterly earnings announcement on Monday, February 6th 2023.
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Chegg, Inc. (NYSE:CHGG) posted its quarterly earnings data on Sunday, October, 31st. The technology company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.01. The technology company earned $171.90 million during the quarter, compared to the consensus estimate of $173.79 million. Chegg had a net margin of 37.58% and a trailing twelve-month return on equity of 7.19%. The business's revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.17 earnings per share.

Chegg issued an update on its fourth quarter 2022 earnings guidance on Tuesday, November, 8th. The company provided earnings per share guidance of for the period. The company issued revenue guidance of $200.00 million-$203.00 million, compared to the consensus revenue estimate of $204.82 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 investors include Baillie Gifford & Co. (14.41%), Vanguard Group Inc. (9.38%), Sands Capital Management LLC (4.29%), Fred Alger Management LLC (2.54%), Artisan Partners Limited Partnership (2.07%) and Federated Hermes Inc. (1.80%). Insiders that own company stock include Andrew J Brown, Daniel Rosensweig, Dave Jr Borders, Esther Lem, John E York, John Paul Fillmore, Marne L Levine, Michael A Osier, Nathan J Schultz, Paul Leblanc, Richard Sarnoff, Robin Tomasello and Ted Schlein.
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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 $29.69.

Chegg (NYSE:CHGG) has a market capitalization of $3.73 billion and generates $776.27 million in revenue each year. The technology company earns $-1,460,000.00 in net income (profit) each year or $1.48 on an earnings per share basis.

The company employs 1,736 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.