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 EPS for the quarter, beating the consensus estimate 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 negative net margin of 124.05% and a positive return on equity of 1.91%. Chegg’s quarterly revenue 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

NYSE CHGG traded up $0.08 during trading on Thursday, reaching $1.66. 3,132,505 shares of the company traded hands, compared to its average volume of 3,612,116. Chegg has a 1-year low of $1.34 and a 1-year high of $11.48. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.89 and a current ratio of 0.89. The stock’s 50 day moving average price is $1.71 and its two-hundred day moving average price is $2.74. The company has a market cap of $169.69 million, a price-to-earnings ratio of -0.21, a P/E/G ratio of 0.63 and a beta of 1.32.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CHGG. Craig Hallum decreased their price target on Chegg from $3.00 to $1.50 and set a “hold” rating for the company in a research note on Wednesday. Needham & Company LLC reaffirmed a “hold” rating on shares of Chegg in a research note on Wednesday. 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 report on Thursday. Morgan Stanley cut their price target on shares of Chegg from $3.25 to $3.00 and set an “equal weight” rating for the company in a report on Tuesday, August 6th. Finally, Northland Securities reduced their target price on Chegg from $4.00 to $3.00 and set a “market perform” rating for the company in a report on Wednesday. Three research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat.com, Chegg currently has an average rating of “Hold” and a consensus target price of $4.69.

Chegg Company Profile

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.