Chegg (NYSE:CHGG) Announces Quarterly Earnings Results

Chegg (NYSE:CHGG) posted its quarterly earnings data on Tuesday. The technology company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03, Briefing.com reports. The company had revenue of $136.59 million during the quarter, compared to analyst estimates of $134.12 million. Chegg had a positive return on equity of 1.91% and a negative net margin of 124.05%. The firm’s revenue for the quarter was down 13.5% on a year-over-year basis. During the same quarter last year, the company earned ($0.07) EPS. Chegg updated its Q4 2024 guidance to EPS.

Chegg Price Performance

Shares of CHGG stock traded up $0.14 during trading hours on Thursday, hitting $1.72. The company’s stock had a trading volume of 5,152,367 shares, compared to its average volume of 3,621,221. The business has a fifty day moving average of $1.70 and a 200-day moving average of $2.74. The stock has a market cap of $175.31 million, a price-to-earnings ratio of -0.21, a P/E/G ratio of 0.63 and a beta of 1.32. Chegg has a twelve month low of $1.34 and a twelve month high of $11.48. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.67.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on CHGG shares. Piper Sandler lowered their target price on Chegg from $2.00 to $1.50 and set an “underweight” rating on the stock in a research report on Thursday. Craig Hallum cut their target price on Chegg from $3.00 to $1.50 and set a “hold” rating on the stock in a research note on Wednesday. StockNews.com lowered Chegg from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. The Goldman Sachs Group reduced their price target on Chegg from $3.75 to $1.75 and set a “neutral” rating on the stock in a research report on Thursday. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Chegg in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat, Chegg has a consensus rating of “Hold” and a consensus target price of $4.69.

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.