Wall Street analysts expect Chegg, Inc. (NYSE:CHGG) to report $70.49 million in sales for the current quarter, Zacks reports. Five analysts have issued estimates for Chegg’s earnings, with the lowest sales estimate coming in at $69.60 million and the highest estimate coming in at $71.19 million. Chegg posted sales of $63.06 million in the same quarter last year, which would indicate a positive year over year growth rate of 11.8%. The business is scheduled to report its next quarterly earnings report on Monday, February 12th.

According to Zacks, analysts expect that Chegg will report full year sales of $70.49 million for the current fiscal year, with estimates ranging from $242.11 million to $252.75 million. For the next financial year, analysts anticipate that the business will report sales of $295.72 million per share, with estimates ranging from $295.00 million to $296.59 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Chegg.

Chegg (NYSE:CHGG) last released its quarterly earnings results on Monday, October 30th. The technology company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. The firm had revenue of $62.60 million during the quarter, compared to analyst estimates of $57.75 million. Chegg had a negative net margin of 10.40% and a negative return on equity of 5.06%. The business’s revenue for the quarter was down 12.2% on a year-over-year basis. During the same period in the previous year, the business earned ($0.17) EPS.

A number of research firms have recently commented on CHGG. Barrington Research restated an “outperform” rating and set a $19.00 price target (up from $17.00) on shares of Chegg in a research report on Tuesday, October 31st. First Analysis lowered shares of Chegg from an “overweight” rating to an “equal weight” rating and set a $18.00 target price for the company. in a research report on Tuesday, October 31st. BidaskClub upgraded shares of Chegg from a “hold” rating to a “buy” rating in a research report on Tuesday, October 31st. J P Morgan Chase & Co upped their target price on shares of Chegg from $15.00 to $18.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 1st. Finally, Northland Securities reiterated a “buy” rating and issued a $18.00 target price on shares of Chegg in a research report on Wednesday, November 1st. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Chegg currently has a consensus rating of “Buy” and an average target price of $15.42.

In other Chegg news, insider Charles Geiger sold 50,000 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $14.53, for a total transaction of $726,500.00. Following the completion of the sale, the insider now directly owns 561,500 shares in the company, valued at $8,158,595. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Daniel Rosensweig sold 200,000 shares of the company’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $14.03, for a total transaction of $2,806,000.00. The disclosure for this sale can be found here. Insiders sold 645,154 shares of company stock valued at $9,466,299 over the last quarter. 20.40% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of CHGG. Gilder Gagnon Howe & Co. LLC boosted its position in Chegg by 56.3% during the third quarter. Gilder Gagnon Howe & Co. LLC now owns 7,042,911 shares of the technology company’s stock valued at $104,517,000 after buying an additional 2,538,026 shares during the period. Fred Alger Management Inc. purchased a new stake in Chegg during the second quarter valued at about $31,014,000. Millennium TVP Management Co. LLC purchased a new stake in Chegg during the third quarter valued at about $25,896,000. Lord Abbett & CO. LLC boosted its position in Chegg by 113.7% during the second quarter. Lord Abbett & CO. LLC now owns 2,117,780 shares of the technology company’s stock valued at $26,028,000 after buying an additional 1,126,806 shares during the period. Finally, Columbus Circle Investors purchased a new stake in Chegg during the third quarter valued at about $14,234,000.

Chegg (NYSE:CHGG) traded up $0.28 on Friday, hitting $15.31. 491,906 shares of the stock were exchanged, compared to its average volume of 981,624. Chegg has a 12-month low of $6.84 and a 12-month high of $16.50.

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Chegg Company Profile

Chegg, Inc is a student-first connected learning platform. The Company helps students study for college admission exams, find the colleges, get grades and test scores while in school, and find internships that allow them to gain skills to help them enter the workforce after college. The Company matches domestic and international students with colleges, universities and other academic institutions (collectively referred to as colleges) in the United States.

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