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Analysts expect Chegg, Inc. (NYSE:CHGG – Get Rating) to report sales of $189.78 million for the current quarter, according to Zacks Investment Research. Nine analysts have provided estimates for Chegg’s earnings. The lowest sales estimate is $188.17 million and the highest is $190.56 million. Chegg reported sales of $198.48 million during the same quarter last year, which suggests a negative year-over-year growth rate of 4.4%. The business is expected to announce its next earnings results on Monday, January 1st.
According to Zacks, analysts expect that Chegg will report full year sales of $757.23 million for the current year, with estimates ranging from $755.00 million to $765.12 million. For the next fiscal year, analysts forecast that the firm will post sales of $830.11 million, with estimates ranging from $798.00 million to $881.01 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Chegg.
Chegg (NYSE:CHGG – Get Rating) last released its quarterly earnings data on Monday, May 2nd. The technology company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.24 by $0.08. Chegg had a net margin of 8.90% and a return on equity of 8.71%. During the same quarter in the prior year, the firm posted $0.13 earnings per share.
CHGG has been the subject of several research reports. Craig Hallum dropped their price objective on shares of Chegg from $35.00 to $18.00 in a report on Tuesday, May 3rd. KeyCorp downgraded shares of Chegg from an “overweight” rating to a “sector weight” rating in a report on Tuesday, April 12th. William Blair downgraded shares of Chegg from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 3rd. Zacks Investment Research raised shares of Chegg from a “sell” rating to a “hold” rating in a report on Friday, February 11th. Finally, Bank of America downgraded shares of Chegg from a “buy” rating to a “neutral” rating in a report on Tuesday, May 3rd. Thirteen equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $42.91.
CHGG opened at $20.55 on Thursday. The firm has a 50-day simple moving average of $24.61 and a two-hundred day simple moving average of $27.77. Chegg has a 52 week low of $15.66 and a 52 week high of $90.50. The company has a market capitalization of $2.59 billion, a PE ratio of 46.71, a price-to-earnings-growth ratio of 5.35 and a beta of 1.13. The company has a quick ratio of 8.02, a current ratio of 8.02 and a debt-to-equity ratio of 2.08.
Several large investors have recently modified their holdings of CHGG. FMR LLC increased its position in shares of Chegg by 18,377.4% during the first quarter. FMR LLC now owns 599,961 shares of the technology company’s stock worth $22,871,000 after acquiring an additional 596,714 shares during the period. First Trust Advisors LP increased its position in shares of Chegg by 196.7% during the first quarter. First Trust Advisors LP now owns 163,622 shares of the technology company’s stock worth $6,237,000 after acquiring an additional 108,483 shares during the period. Amundi Pioneer Asset Management Inc. increased its position in shares of Chegg by 107.9% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 29,943 shares of the technology company’s stock worth $1,141,000 after acquiring an additional 15,543 shares during the period. Hsbc Holdings PLC increased its holdings in Chegg by 49.6% during the third quarter. Hsbc Holdings PLC now owns 14,924 shares of the technology company’s stock valued at $1,018,000 after buying an additional 4,946 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in Chegg by 80.2% during the third quarter. Renaissance Technologies LLC now owns 131,700 shares of the technology company’s stock valued at $8,958,000 after buying an additional 58,600 shares during the period.
About Chegg (Get Rating)
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 and help them better understand their academic course materials. The company offers Chegg Services, which include subscription services; and required materials that comprise its print textbooks and eTextbooks.
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