Chegg (NYSE:CHGG) Posts Earnings Results, Misses Estimates By $0.02 EPS


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Chegg (NYSE:CHGG) issued its earnings results on Sunday. The technology company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.02), MarketWatch Earnings reports. Chegg had a positive return on equity of 13.35% and a negative net margin of 4.26%. The company had revenue of $198.40 million for the quarter, compared to analyst estimates of $184.59 million. During the same quarter in the previous year, the company posted $0.22 earnings per share. The company’s quarterly revenue was up 50.8% compared to the same quarter last year.

CHGG stock traded up $0.01 during mid-day trading on Tuesday, hitting $83.02. 195,523 shares of the company were exchanged, compared to its average volume of 1,806,300. The firm has a fifty day simple moving average of $90.07 and a 200 day simple moving average of $88.74. The company has a market capitalization of $11.78 billion, a PE ratio of -406.75, a price-to-earnings-growth ratio of 3.14 and a beta of 0.99. Chegg has a twelve month low of $41.24 and a twelve month high of $115.21. The company has a current ratio of 9.09, a quick ratio of 9.09 and a debt-to-equity ratio of 2.38.

In related news, CEO Daniel Rosensweig sold 300,000 shares of the company’s stock in a transaction that occurred on Monday, February 22nd. The stock was sold at an average price of $99.55, for a total transaction of $29,865,000.00. Following the sale, the chief executive officer now directly owns 1,607,090 shares of the company’s stock, valued at approximately $159,985,809.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Nathan J. Schultz sold 30,000 shares of the firm’s stock in a transaction on Friday, April 23rd. The stock was sold at an average price of $92.35, for a total value of $2,770,500.00. Following the transaction, the insider now owns 257,127 shares in the company, valued at $23,745,678.45. The disclosure for this sale can be found here. In the last 90 days, insiders sold 465,668 shares of company stock worth $45,003,983. Company insiders own 3.10% of the company’s stock.

Several brokerages have recently commented on CHGG. Bank of America boosted their price target on Chegg from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, January 14th. KeyCorp decreased their target price on Chegg from $124.00 to $115.00 and set an “overweight” rating on the stock in a research report on Tuesday. Lake Street Capital dropped their price target on Chegg from $98.00 to $93.00 and set a “hold” rating for the company in a research report on Tuesday. Craig Hallum boosted their price objective on shares of Chegg from $105.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, February 9th. Finally, Northland Securities raised their target price on shares of Chegg from $95.00 to $110.00 and gave the company an “outperform” rating in a report on Tuesday, February 9th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $104.22.

About Chegg

Chegg, Inc engages in the operations of learning platform for students. It intends to empower students to take control of their education and help the students study, college admissions exams, accomplish their goals, get grades and test scores. The firm offers required and non-required scholastic materials including textbooks in any format, access to online homework help and textbook solutions, course organization and scheduling, college and university matching tools and scholarship connections.

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Earnings History for Chegg (NYSE:CHGG)

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