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

Chegg (NYSE:CHGG) issued its quarterly earnings data on Tuesday. The technology company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.06 by $0.03, Briefing.com reports. The company had revenue of $136.59 million during the quarter, compared to analyst estimates of $134.12 million. Chegg had a positive return on equity of 1.91% and a negative net margin of 124.05%. Chegg’s revenue was down 13.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.07) earnings per share. Chegg updated its Q4 2024 guidance to EPS.

Chegg Price Performance

Shares of NYSE:CHGG traded up $0.12 during mid-day trading on Thursday, reaching $1.70. The stock had a trading volume of 3,652,396 shares, compared to its average volume of 3,614,469. The company has a market cap of $173.77 million, a P/E ratio of -0.21, a price-to-earnings-growth ratio of 0.63 and a beta of 1.32. The business’s 50 day moving average price is $1.71 and its 200 day moving average price is $2.74. The company has a current ratio of 0.89, a quick 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.

Analysts Set New Price Targets

Several brokerages have recently commented on CHGG. Needham & Company LLC reaffirmed a “hold” rating on shares of Chegg in a research note on Wednesday. Morgan Stanley decreased their target price on Chegg from $3.25 to $3.00 and set an “equal weight” rating for the company in a report on Tuesday, August 6th. The Goldman Sachs Group decreased their price objective on shares of Chegg from $3.75 to $1.75 and set a “neutral” rating for the company in a report on Thursday. Northland Securities reduced their price target on shares of Chegg from $4.00 to $3.00 and set a “market perform” rating on the stock in a research report on Wednesday. Finally, StockNews.com lowered shares of Chegg from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Three research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to MarketBeat.com, Chegg has a consensus 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.