Chegg - CHGG Stock Forecast, Price & News

14 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Chegg in the last twelve months. There are currently 13 hold ratings and 1 buy rating 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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14 brokers have issued twelve-month price objectives for Chegg's shares. Their CHGG share price forecasts range from $18.00 to $120.00. On average, they predict the company's share price to reach $36.58 in the next year. This suggests a possible upside of 65.6% from the stock's current price.
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Chegg's stock was trading at $30.70 at the start of the year. Since then, CHGG stock has decreased by 28.0% and is now trading at $22.09.
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Chegg saw a increase in short interest in the month of June. As of June 30th, there was short interest totaling 7,220,000 shares, an increase of 38.8% from the June 15th total of 5,200,000 shares. Based on an average trading volume of 4,130,000 shares, the days-to-cover ratio is presently 1.7 days. Currently, 7.0% of the shares of the stock are sold short.
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The company is scheduled to release its next quarterly earnings announcement on Monday, November 7th 2022.
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Chegg, Inc. (NYSE:CHGG) released its quarterly earnings data on Sunday, October, 31st. The technology company reported $0.20 earnings per share for the quarter, topping analysts' consensus estimates 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 trailing twelve-month return on equity of 7.93% and a net margin of 5.69%. The firm's revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period last year, the firm posted $0.17 earnings per share.

Chegg updated its third quarter 2022 earnings guidance on Thursday, August, 11th. The company provided EPS guidance of for the period. The company issued revenue guidance of $156.00 million-$160.00 million, compared to the consensus revenue estimate of $162.46 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 shareholders include Baillie Gifford & Co. (14.56%), Clearbridge Investments LLC (2.08%), Mitsubishi UFJ Trust & Banking Corp (0.48%), National Bank of Canada FI (0.48%), Assenagon Asset Management S.A. (0.34%) and Bridgewater Associates LP (0.31%). Insiders that own company stock include Andrew J Brown, Daniel Rosensweig, Dave Jr Borders, Esther Lem, Jenny Brandemuehl, 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 $22.09.

Chegg (NYSE:CHGG) has a market capitalization of $2.79 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 $0.30 on an earnings per share basis.

The company employs 1,736 workers across the globe.

Chegg was founded in 2005.

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.