Chegg (NYSE:CHGG) Announces Earnings Results, Beats Estimates By $0.18 EPS

Chegg (NYSE:CHGG) issued its quarterly earnings data on Monday. The technology company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.18, FiscalAI reports. Chegg had a negative return on equity of 9.41% and a negative net margin of 17.14%.The company had revenue of $72.66 million for the quarter, compared to analyst estimates of $71.00 million.

Chegg Trading Down 3.4%

Shares of Chegg stock traded down $0.03 during trading on Monday, reaching $0.76. The company’s stock had a trading volume of 1,825,154 shares, compared to its average volume of 1,237,613. Chegg has a one year low of $0.44 and a one year high of $1.90. The stock has a market capitalization of $83.45 million, a P/E ratio of -1.06 and a beta of 1.98. The stock has a 50-day moving average price of $0.88 and a two-hundred day moving average price of $1.15.

Analyst Ratings Changes

Several analysts have commented on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Chegg in a research note on Monday, December 29th. Zacks Research cut shares of Chegg from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Two analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Strong Sell” and an average target price of $1.00.

Institutional Investors Weigh In On Chegg

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Qube Research & Technologies Ltd bought a new position in Chegg during the 3rd quarter worth $32,000. Jump Financial LLC acquired a new position in Chegg during the 2nd quarter valued at about $31,000. Hudson Bay Capital Management LP purchased a new stake in shares of Chegg during the second quarter valued at approximately $36,000. BNP Paribas Financial Markets increased its holdings in Chegg by 564.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 34,060 shares of the technology company’s stock worth $51,000 after acquiring an additional 28,937 shares during the last quarter. Finally, Cerity Partners LLC boosted its stake in Chegg by 38.4% in the 2nd quarter. Cerity Partners LLC now owns 62,579 shares of the technology company’s stock worth $76,000 after purchasing an additional 17,371 shares during the period. 95.18% of the stock is currently owned by institutional investors and hedge funds.

Chegg Company Profile

Chegg, Inc (NYSE: CHGG) is a leading education technology company headquartered in Santa Clara, California. Originally founded in 2005, Chegg has evolved from a textbook rental service into a comprehensive digital learning platform. Its suite of subscription-based offerings addresses a wide range of academic needs, catering primarily to high school and college students seeking homework help, study resources, and career guidance.

The company’s core services include Chegg Study, which provides step-by-step solutions and expert Q&A support; Chegg Writing, offering plagiarism checks and guided writing assistance; and Chegg Math Solver, a tool for solving mathematical problems with detailed explanations.