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

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

Chegg Stock Performance

Chegg stock traded up $0.09 during midday trading on Thursday, reaching $1.67. 3,433,192 shares of the company traded hands, 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. Chegg has a 12 month low of $1.34 and a 12 month high of $11.48. The firm has a market capitalization of $170.71 million, a price-to-earnings ratio of -0.21, a price-to-earnings-growth ratio of 0.63 and a beta of 1.32. The business has a 50 day moving average of $1.71 and a two-hundred day moving average of $2.74.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CHGG. Craig Hallum cut their price objective on shares of Chegg from $3.00 to $1.50 and set a “hold” rating on the stock in a report on Wednesday. Piper Sandler cut their price target on Chegg from $2.00 to $1.50 and set an “underweight” rating on the stock in a research note on Thursday. Northland Securities lowered their price objective on Chegg from $4.00 to $3.00 and set a “market perform” rating for the company in a research note on Wednesday. Needham & Company LLC restated a “hold” rating on shares of Chegg in a report on Wednesday. Finally, The Goldman Sachs Group dropped their price target on shares of Chegg from $3.75 to $1.75 and set a “neutral” rating on the stock in a research note on Thursday. Three analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus 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.