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 Wall Street analysts have issued 1-year price objectives for Chegg's shares. Their CHGG share price forecasts range from $11.00 to $29.00. On average, they expect the company's share price to reach $18.77 in the next year. This suggests a possible upside of 81.2% from the stock's current price.
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Chegg's stock was trading at $25.27 at the start of the year. Since then, CHGG stock has decreased by 59.0% and is now trading at $10.36.
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Chegg saw a drop in short interest in May. As of May 15th, there was short interest totaling 9,180,000 shares, a drop of 10.6% from the April 30th total of 10,270,000 shares. Based on an average daily trading volume, of 4,440,000 shares, the days-to-cover ratio is currently 2.1 days. Approximately 7.9% of the company's 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) announced its quarterly earnings data on Monday, February, 6th. The technology company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.02. The technology company earned $205.19 million during the quarter, compared to analyst estimates of $202.10 million. Chegg had a net margin of 34.97% and a trailing twelve-month return on equity of 4.82%. The business's revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the business 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 earnings per share (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 a variety of retail and institutional investors. Top institutional shareholders 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 $10.36.

Chegg (NYSE:CHGG) has a market capitalization of $1.24 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.