Chegg (CHGG) Set to Announce Earnings on Monday

Chegg (NYSE:CHGG) is scheduled to post its quarterly earnings results after the market closes on Monday, April 29th. Analysts expect Chegg to post earnings of $0.24 per share for the quarter. Chegg has set its Q1 2024 guidance at EPS.Investors that wish to register for the company’s conference call can do so using this link.

Chegg (NYSE:CHGG) last released its quarterly earnings data on Monday, February 5th. The technology company reported $0.36 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.36. The business had revenue of $187.99 million during the quarter, compared to analysts’ expectations of $185.94 million. Chegg had a net margin of 2.54% and a return on equity of 1.27%. The company’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.16 EPS. On average, analysts expect Chegg to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Chegg Price Performance

Chegg stock opened at $7.10 on Friday. The stock has a market cap of $721.15 million, a P/E ratio of -44.38, a price-to-earnings-growth ratio of 1.34 and a beta of 1.26. The company has a fifty day simple moving average of $7.77 and a 200-day simple moving average of $9.08. Chegg has a 12-month low of $6.63 and a 12-month high of $18.71. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.26.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. BMO Capital Markets dropped their price target on shares of Chegg from $11.00 to $10.00 and set a “market perform” rating on the stock in a research note on Tuesday, February 6th. JPMorgan Chase & Co. reduced their price target on shares of Chegg from $10.00 to $9.00 and set a “neutral” rating on the stock in a report on Tuesday, February 6th. StockNews.com raised shares of Chegg from a “hold” rating to a “buy” rating in a research note on Tuesday, January 23rd. The Goldman Sachs Group cut their price target on shares of Chegg from $8.00 to $7.00 and set a “sell” rating on the stock in a research note on Tuesday, February 6th. Finally, Morgan Stanley lowered their price target on Chegg from $8.50 to $7.00 and set an “underweight” rating for the company in a research report on Friday, April 19th. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $10.00.

About Chegg

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.