Chegg (NYSE:CHGG – Get Rating) is set to post its quarterly earnings results after the market closes on Monday, February 6th. Analysts expect Chegg to post earnings of $0.39 per share for the quarter. Chegg has set its FY 2022 guidance at EPS and its Q4 2022 guidance at EPS.Individual interested in participating in the company’s earnings conference call can do so using this link.
Chegg (NYSE:CHGG – Get Rating) last released its earnings results on Tuesday, November 1st. The technology company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.04. The company had revenue of $164.74 million for the quarter, compared to analyst estimates of $158.20 million. Chegg had a return on equity of 7.19% and a net margin of 37.58%. On average, analysts expect Chegg to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.
Chegg Stock Performance
CHGG opened at $20.59 on Monday. The firm has a market cap of $2.58 billion, a P/E ratio of 13.91, a price-to-earnings-growth ratio of 3.15 and a beta of 1.11. Chegg has a 52-week low of $15.66 and a 52-week high of $37.64. The company has a debt-to-equity ratio of 1.13, a quick ratio of 7.19 and a current ratio of 7.19. The business’s fifty day moving average is $25.87 and its 200-day moving average is $23.36.
Insider Transactions at Chegg
In other news, COO Nathan J. Schultz sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $25.35, for a total transaction of $633,750.00. Following the completion of the transaction, the chief operating officer now directly owns 237,500 shares in the company, valued at $6,020,625. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Chegg news, COO Nathan J. Schultz sold 25,000 shares of Chegg stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $25.35, for a total value of $633,750.00. Following the completion of the sale, the chief operating officer now directly owns 237,500 shares in the company, valued at $6,020,625. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Paul Leblanc sold 12,890 shares of the business’s stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $28.00, for a total value of $360,920.00. Following the sale, the director now owns 11,861 shares of the company’s stock, valued at approximately $332,108. The disclosure for this sale can be found here. 2.25% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of CHGG. Natixis Advisors L.P. boosted its position in shares of Chegg by 152.3% during the first quarter. Natixis Advisors L.P. now owns 33,910 shares of the technology company’s stock valued at $1,230,000 after buying an additional 20,468 shares during the last quarter. MetLife Investment Management LLC purchased a new position in Chegg in the first quarter worth $265,000. Lord Abbett & CO. LLC purchased a new position in Chegg in the first quarter worth $12,124,000. Canada Pension Plan Investment Board boosted its position in Chegg by 280.3% in the first quarter. Canada Pension Plan Investment Board now owns 19,345 shares of the technology company’s stock worth $702,000 after purchasing an additional 14,258 shares during the last quarter. Finally, Cetera Investment Advisers purchased a new position in Chegg in the first quarter worth $275,000. Hedge funds and other institutional investors own 92.88% of the company’s stock.
Analyst Ratings Changes
Several research firms have recently issued reports on CHGG. KeyCorp raised Chegg from a “sector weight” rating to an “overweight” rating and set a $29.00 target price on the stock in a report on Thursday, January 19th. Morgan Stanley increased their target price on Chegg from $24.00 to $31.00 and gave the stock an “equal weight” rating in a report on Thursday, December 15th. StockNews.com assumed coverage on Chegg in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Needham & Company LLC lowered Chegg from a “buy” rating to a “hold” rating in a research note on Wednesday, January 18th. Finally, Barrington Research raised their price objective on Chegg from $25.00 to $30.00 and gave the company an “outperform” rating in a research note on Wednesday, November 2nd. Eleven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $26.18.
About Chegg
Chegg, Inc operates a learning platform for students. It intends to empower students to take control of their education and help the students study, college admissions exams, accomplish their goals, get grades and test scores. The firm offers required and non-required scholastic materials including textbooks in any format, access to online homework help and textbook solutions, course organization and scheduling, college and university matching tools and scholarship connections.