Chegg (NYSE:CHGG) Announces Quarterly Earnings Results, Beats Expectations By $0.03 EPS

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

Chegg Trading Up 5.7 %

NYSE CHGG traded up $0.09 during mid-day trading on Thursday, reaching $1.67. 3,433,192 shares of the stock were exchanged, compared to its average volume of 3,613,477. 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 stock has a 50 day simple moving average of $1.71 and a 200-day simple moving average of $2.74. Chegg has a one year low of $1.34 and a one year high of $11.48. The stock has a market cap of $170.71 million, a P/E ratio of -0.21, a P/E/G ratio of 0.63 and a beta of 1.32.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CHGG shares. Craig Hallum decreased their price target on shares of Chegg from $3.00 to $1.50 and set a “hold” rating on the stock in a report on Wednesday. Needham & Company LLC reaffirmed a “hold” rating on shares of Chegg in a research note on Wednesday. Northland Securities dropped their price target on Chegg from $4.00 to $3.00 and set a “market perform” rating for the company in a research note on Wednesday. The Goldman Sachs Group cut their price objective on Chegg from $3.75 to $1.75 and set a “neutral” rating on the stock in a report on Thursday. Finally, StockNews.com cut Chegg from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Three investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to data from MarketBeat.com, Chegg currently has an average 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.