Chegg (NYSE:CHGG) Posts Earnings Results, Beats Estimates By $0.03 EPS

Chegg (NYSE:CHGG) issued its earnings results on Tuesday. The technology company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.06 by $0.03, Briefing.com reports. Chegg had a positive return on equity of 1.91% and a negative net margin of 124.05%. The company had revenue of $136.59 million during the quarter, compared to the consensus estimate of $134.12 million. During the same period last year, the business posted ($0.07) EPS. The firm’s revenue for the quarter was down 13.5% compared to the same quarter last year. Chegg updated its Q4 2024 guidance to EPS.

Chegg Stock Performance

NYSE CHGG traded up $0.12 during trading hours on Thursday, reaching $1.70. 3,571,321 shares of the company were exchanged, compared to its average volume of 3,614,102. The stock has a market capitalization of $173.34 million, a P/E ratio of -0.21, a P/E/G ratio of 0.63 and a beta of 1.32. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.67. Chegg has a 1 year low of $1.34 and a 1 year high of $11.48. The business’s 50 day simple moving average is $1.71 and its 200-day simple moving average is $2.74.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CHGG. Needham & Company LLC reiterated a “hold” rating on shares of Chegg in a report on Wednesday. Northland Securities cut their price target on Chegg from $4.00 to $3.00 and set a “market perform” rating for the company in a research note on Wednesday. Piper Sandler lowered their price objective on Chegg from $2.00 to $1.50 and set an “underweight” rating for the company in a research note on Thursday. Morgan Stanley decreased their price target on Chegg from $3.25 to $3.00 and set an “equal weight” rating for the company in a report on Tuesday, August 6th. Finally, Craig Hallum dropped their price objective on Chegg from $3.00 to $1.50 and set a “hold” rating on the stock in a research note on Wednesday. Three analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $4.69.

Chegg Company Profile

Chegg, Inc operates a direct-to-student learning platform that helps learners build essential life and job skills to accelerate their path from learning programs in the United States and internationally. Its subscription services include Chegg Study, which offers personalized step-by-step learning support from AI, computational engines, and subject matter experts, as well as Tinger Gold and DashPash Student services; Chegg Writing that provides students with a suite of tools, such as plagiarism detection scans, grammar and writing fluency checking, expert personalized writing feedback, and premium citation generation; Chegg Math, a step-by-step math problem solver and calculator that helps students to solve problems; Chegg Study Pack, a bundle of various subscription product offerings, including Chegg Study, Chegg Writing, and Chegg Math services; and Busuu, an online language learning platform that offers comprehensive support through self-paced lessons, live classes with expert tutors, and a community of members to practice alongside.