Chegg (NYSE:CHGG) Releases 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, topping analysts’ consensus estimates of $0.06 by $0.03, Briefing.com reports. The company had revenue of $136.59 million for the quarter, compared to analysts’ expectations of $134.12 million. Chegg had a negative net margin of 124.05% and a positive return on equity of 1.91%. The firm’s revenue was down 13.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.07) EPS. Chegg updated its Q4 2024 guidance to EPS.

Chegg Stock Up 7.3 %

CHGG traded up $0.12 on Thursday, reaching $1.70. The company’s stock had a trading volume of 3,571,321 shares, compared to its average volume of 3,614,102. The stock has a market cap of $173.34 million, a price-to-earnings ratio of -0.21, a price-to-earnings-growth ratio of 0.63 and a beta of 1.32. Chegg has a 1 year low of $1.34 and a 1 year high of $11.48. The business’s 50 day moving average is $1.71 and its 200 day moving average is $2.74. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.89 and a quick ratio of 0.89.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CHGG shares. The Goldman Sachs Group lowered their price objective on shares of Chegg from $3.75 to $1.75 and set a “neutral” rating on the stock in a research note on Thursday. Piper Sandler cut their price objective on shares of Chegg from $2.00 to $1.50 and set an “underweight” rating on the stock in a research report on Thursday. StockNews.com downgraded Chegg from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Morgan Stanley lowered their target price on Chegg from $3.25 to $3.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 6th. Finally, Craig Hallum dropped their target price on shares of Chegg from $3.00 to $1.50 and set a “hold” rating on the stock in a research report on Wednesday. Three investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price 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.