$89.38 Million in Sales Expected for Chegg Inc (NYSE:CHGG) This Quarter

Analysts expect that Chegg Inc (NYSE:CHGG) will post $89.38 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Chegg’s earnings, with the lowest sales estimate coming in at $89.00 million and the highest estimate coming in at $89.67 million. Chegg reported sales of $74.24 million during the same quarter last year, which suggests a positive year-over-year growth rate of 20.4%. The company is scheduled to report its next quarterly earnings results on Monday, November 4th.

According to Zacks, analysts expect that Chegg will report full-year sales of $400.83 million for the current year, with estimates ranging from $399.97 million to $401.54 million. For the next year, analysts expect that the company will report sales of $480.68 million, with estimates ranging from $466.18 million to $490.20 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Chegg.

Chegg (NYSE:CHGG) last issued its quarterly earnings data on Monday, July 29th. The technology company reported $0.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.06. The business had revenue of $93.90 million for the quarter, compared to the consensus estimate of $92.44 million. Chegg had a positive return on equity of 7.12% and a negative net margin of 4.07%. The firm’s revenue was up 26.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.12 EPS.



Several analysts recently commented on CHGG shares. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price objective (up previously from $44.00) on shares of Chegg in a research note on Tuesday, July 30th. Zacks Investment Research raised Chegg from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a research note on Wednesday, July 10th. Barrington Research lifted their price target on Chegg from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th. Craig Hallum lifted their price target on Chegg from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Finally, JPMorgan Chase & Co. lifted their price target on Chegg from $43.00 to $49.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $44.18.

In related news, insider Michael A. Osier sold 16,527 shares of Chegg stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $42.22, for a total value of $697,769.94. Following the sale, the insider now owns 542,856 shares of the company’s stock, valued at $22,919,380.32. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Andrew J. Brown sold 200,000 shares of Chegg stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $44.82, for a total value of $8,964,000.00. Following the completion of the sale, the insider now directly owns 239,092 shares in the company, valued at approximately $10,716,103.44. The disclosure for this sale can be found here. Insiders sold a total of 1,145,114 shares of company stock worth $47,474,750 in the last three months. Company insiders own 5.80% of the company’s stock.

Several large investors have recently added to or reduced their stakes in CHGG. Stephens Inc. AR increased its position in shares of Chegg by 1,027.2% in the first quarter. Stephens Inc. AR now owns 1,781 shares of the technology company’s stock valued at $68,000 after acquiring an additional 1,623 shares during the last quarter. Icon Wealth Partners LLC bought a new position in Chegg during the first quarter worth about $71,000. NEXT Financial Group Inc grew its holdings in Chegg by 1,834.0% during the second quarter. NEXT Financial Group Inc now owns 1,934 shares of the technology company’s stock worth $75,000 after purchasing an additional 1,834 shares during the period. Quantamental Technologies LLC bought a new position in Chegg during the first quarter worth about $81,000. Finally, Institutional & Family Asset Management LLC boosted its holdings in shares of Chegg by 870.9% during the first quarter. Institutional & Family Asset Management LLC now owns 2,670 shares of the technology company’s stock worth $102,000 after acquiring an additional 2,395 shares during the period.

Chegg stock traded down $1.92 during mid-day trading on Friday, hitting $39.80. 1,381,911 shares of the company’s stock were exchanged, compared to its average volume of 1,787,579. The firm has a market capitalization of $4.99 billion, a price-to-earnings ratio of 442.22, a P/E/G ratio of 5.88 and a beta of 0.99. Chegg has a fifty-two week low of $22.67 and a fifty-two week high of $48.22. The company has a quick ratio of 13.22, a current ratio of 13.22 and a debt-to-equity ratio of 1.90. The company has a 50 day moving average price of $42.58.

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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