Wall Street analysts expect Chegg Inc (NYSE:CHGG) to post sales of $91.74 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Chegg’s earnings, with estimates ranging from $91.26 million to $92.12 million. Chegg reported sales of $73.51 million in the same quarter last year, which would suggest a positive year over year growth rate of 24.8%. The business is scheduled to issue its next earnings results on Monday, February 11th.
According to Zacks, analysts expect that Chegg will report full year sales of $317.06 million for the current financial year, with estimates ranging from $316.63 million to $317.53 million. For the next fiscal year, analysts expect that the business will post sales of $388.50 million, with estimates ranging from $388.00 million to $389.19 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Chegg.
Chegg (NYSE:CHGG) last announced its earnings results on Monday, October 29th. The technology company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.04. Chegg had a positive return on equity of 1.75% and a negative net margin of 5.55%. The company had revenue of $74.20 million for the quarter, compared to the consensus estimate of $69.02 million. During the same period last year, the business posted $0.01 EPS. The company’s revenue was up 18.5% on a year-over-year basis.
A number of analysts recently weighed in on CHGG shares. Barrington Research restated a “buy” rating and issued a $32.00 price target on shares of Chegg in a research note on Friday, October 5th. Zacks Investment Research upgraded Chegg from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a research note on Tuesday, October 9th. Jefferies Financial Group decreased their price target on Chegg from $30.00 to $28.00 and set a “hold” rating on the stock in a research note on Tuesday, October 30th. First Analysis upgraded Chegg from a “neutral” rating to an “outperform” rating and set a $30.00 price target on the stock in a research note on Tuesday, October 30th. Finally, Craig Hallum upgraded Chegg from a “hold” rating to a “buy” rating in a research note on Tuesday, October 2nd. Six analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $26.80.
In other news, Director John E. York sold 25,000 shares of the business’s stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $29.10, for a total value of $727,500.00. Following the completion of the transaction, the director now directly owns 33,214 shares of the company’s stock, valued at $966,527.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Daniel Rosensweig sold 150,000 shares of the business’s stock in a transaction on Monday, August 13th. The stock was sold at an average price of $29.28, for a total value of $4,392,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 565,000 shares of company stock valued at $16,156,650. 10.80% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC raised its holdings in shares of Chegg by 1,424.7% in the third quarter. SG Americas Securities LLC now owns 80,001 shares of the technology company’s stock worth $2,274,000 after acquiring an additional 74,754 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of Chegg by 20.4% in the third quarter. Wells Fargo & Company MN now owns 1,260,249 shares of the technology company’s stock worth $35,829,000 after acquiring an additional 213,515 shares during the last quarter. Chicago Equity Partners LLC acquired a new position in shares of Chegg in the third quarter worth $1,347,000. US Bancorp DE raised its holdings in shares of Chegg by 309.5% in the third quarter. US Bancorp DE now owns 13,363 shares of the technology company’s stock worth $381,000 after acquiring an additional 10,100 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System raised its holdings in shares of Chegg by 9.4% in the third quarter. State Board of Administration of Florida Retirement System now owns 38,436 shares of the technology company’s stock worth $1,093,000 after acquiring an additional 3,300 shares during the last quarter.
Chegg stock opened at $26.62 on Wednesday. The company has a current ratio of 6.56, a quick ratio of 6.56 and a debt-to-equity ratio of 0.72. Chegg has a 1-year low of $13.75 and a 1-year high of $32.82. The company has a market capitalization of $3.07 billion, a P/E ratio of -295.78, a price-to-earnings-growth ratio of 10.36 and a beta of 1.43.
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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