Analysts expect Chegg Inc (NYSE:CHGG) to post $69.37 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Chegg’s earnings. The lowest sales estimate is $68.75 million and the highest is $70.70 million. Chegg posted sales of $62.64 million in the same quarter last year, which suggests a positive year-over-year growth rate of 10.7%. The firm is expected to report its next quarterly earnings results after the market closes on Monday, October 29th.

On average, analysts expect that Chegg will report full-year sales of $309.90 million for the current financial year, with estimates ranging from $308.47 million to $311.40 million. For the next financial year, analysts anticipate that the firm will report sales of $378.74 million, with estimates ranging from $367.11 million to $399.92 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Chegg.

Chegg (NYSE:CHGG) last released its quarterly earnings results on Monday, July 30th. The technology company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.04. The business had revenue of $74.22 million during the quarter, compared to the consensus estimate of $70.16 million. Chegg had a positive return on equity of 0.87% and a negative net margin of 5.01%. The company’s quarterly revenue was up 31.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.06 EPS.

A number of equities analysts have recently weighed in on the company. Citigroup boosted their target price on Chegg from $23.50 to $27.00 and gave the stock a “hold” rating in a research note on Tuesday, July 31st. Morgan Stanley boosted their target price on Chegg from $24.00 to $28.00 and gave the stock a “hold” rating in a research note on Wednesday, August 1st. Lake Street Capital boosted their target price on Chegg from $20.00 to $26.00 and gave the stock a “hold” rating in a research note on Tuesday, July 31st. Craig Hallum upgraded Chegg from a “hold” rating to a “buy” rating in a research note on Tuesday, October 2nd. Finally, Jefferies Financial Group downgraded Chegg from a “buy” rating to a “hold” rating and cut their target price for the stock from $27.00 to $14.00 in a research note on Thursday, June 21st. They noted that the move was a valuation call. Seven analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $24.20.

In related news, insider Jenny Brandemuehl sold 75,000 shares of the company’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $28.50, for a total value of $2,137,500.00. Following the transaction, the insider now owns 516,962 shares in the company, valued at $14,733,417. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Daniel Rosensweig sold 150,000 shares of the company’s stock in a transaction that occurred on Friday, October 12th. The shares were sold at an average price of $25.43, for a total value of $3,814,500.00. Following the completion of the transaction, the chief executive officer now owns 2,378,305 shares in the company, valued at approximately $60,480,296.15. The disclosure for this sale can be found here. Insiders sold a total of 565,000 shares of company stock worth $16,156,650 in the last 90 days. Company insiders own 10.80% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. lifted its stake in Chegg by 17.3% in the second quarter. BlackRock Inc. now owns 6,648,320 shares of the technology company’s stock valued at $184,758,000 after purchasing an additional 978,343 shares during the last quarter. FMR LLC lifted its stake in Chegg by 19.3% in the second quarter. FMR LLC now owns 6,321,121 shares of the technology company’s stock valued at $175,664,000 after purchasing an additional 1,022,400 shares during the last quarter. Baillie Gifford & Co. lifted its stake in Chegg by 10.7% in the second quarter. Baillie Gifford & Co. now owns 4,663,439 shares of the technology company’s stock valued at $129,597,000 after purchasing an additional 450,585 shares during the last quarter. Artisan Partners Limited Partnership lifted its stake in Chegg by 0.7% in the second quarter. Artisan Partners Limited Partnership now owns 1,479,400 shares of the technology company’s stock valued at $41,113,000 after purchasing an additional 9,686 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Chegg by 16.6% in the second quarter. Northern Trust Corp now owns 1,326,785 shares of the technology company’s stock valued at $36,872,000 after purchasing an additional 188,758 shares during the last quarter.

CHGG stock traded down $0.28 during mid-day trading on Friday, reaching $26.70. 919,000 shares of the company traded hands, compared to its average volume of 1,323,544. The company has a market capitalization of $3.24 billion, a P/E ratio of -296.67, a price-to-earnings-growth ratio of 14.36 and a beta of 1.51. The company has a debt-to-equity ratio of 0.71, a quick ratio of 10.11 and a current ratio of 10.11. Chegg has a fifty-two week low of $13.75 and a fifty-two week high of $32.82.

Chegg Company Profile

Chegg, Inc operates direct-to-student learning platform that supports students on their journey from high school to college and into their career with tools designed to help them pass their test, pass their class, and save money on required materials. The company offers Chegg Services, which include digital products and services; and required materials that comprise its print textbooks and eTextbooks.

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