Chegg (NYSE:CHGG – Get Free Report) will be announcing its earnings results after the market closes on Monday, August 7th. Analysts expect the company to announce earnings of $0.28 per share for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.
Chegg (NYSE:CHGG – Get Free Report) last issued its quarterly earnings data on Monday, May 1st. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). Chegg had a return on equity of 4.82% and a net margin of 34.97%. The company had revenue of $187.60 million for the quarter, compared to analyst estimates of $185.25 million. On average, analysts expect Chegg to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.
Chegg Price Performance
Chegg stock opened at $10.19 on Monday. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of 7.72, a PEG ratio of 18.14 and a beta of 1.13. The company has a current ratio of 4.56, a quick ratio of 4.56 and a debt-to-equity ratio of 1.18. Chegg has a 12 month low of $8.55 and a 12 month high of $30.05. The stock’s 50 day moving average is $9.51 and its 200-day moving average is $14.07.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the business. AM Squared Ltd bought a new position in shares of Chegg in the first quarter worth about $47,000. Captrust Financial Advisors boosted its stake in shares of Chegg by 79.6% in the 1st quarter. Captrust Financial Advisors now owns 2,012 shares of the technology company’s stock valued at $73,000 after purchasing an additional 892 shares in the last quarter. Point72 Middle East FZE acquired a new stake in shares of Chegg in the 4th quarter valued at approximately $162,000. XTX Topco Ltd acquired a new stake in shares of Chegg in the 1st quarter valued at approximately $168,000. Finally, State of Tennessee Treasury Department acquired a new stake in shares of Chegg in the 4th quarter valued at approximately $182,000. Institutional investors own 89.94% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts have commented on CHGG shares. Barrington Research lowered Chegg from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 2nd. Jefferies Financial Group cut shares of Chegg from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $25.00 to $11.00 in a research note on Tuesday, May 2nd. Northland Securities lowered shares of Chegg from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 2nd. Piper Sandler dropped their price target on shares of Chegg from $17.00 to $11.00 in a research report on Tuesday, May 2nd. Finally, Morgan Stanley reduced their price target on Chegg from $18.00 to $12.00 in a research report on Tuesday, May 2nd. Eleven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $18.23.
Chegg Company Profile
Chegg, Inc operates direct-to-student learning platform that supports students starting with their academic journey and extending into their careers with products and services to support learner with their academic course materials. The company offers Chegg Services, which include subscription services; and skills and other, including skills, advertising services, print textbooks, and eTextbooks.