Chegg (NYSE:CHGG) Issues Quarterly Earnings Results

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

Chegg Price Performance

Shares of CHGG opened at $1.72 on Friday. The company’s fifty day moving average price is $1.70 and its 200-day moving average price is $2.74. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market capitalization of $175.31 million, a PE ratio of -0.21, a price-to-earnings-growth ratio of 0.63 and a beta of 1.32. Chegg has a 1-year low of $1.34 and a 1-year high of $11.48.

Wall Street Analyst Weigh In

CHGG has been the topic of several recent research reports. StockNews.com downgraded Chegg from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Morgan Stanley dropped their price target on shares of Chegg from $3.25 to $3.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Chegg in a report on Wednesday. Northland Securities reduced their price target on shares of Chegg from $4.00 to $3.00 and set a “market perform” rating for the company in a research report on Wednesday. Finally, Piper Sandler lowered their price objective on Chegg from $2.00 to $1.50 and set an “underweight” rating on the stock in a research report on Thursday. Three research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. Based on data from MarketBeat.com, Chegg presently has a consensus rating of “Hold” and an average price target 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.