Chegg Inc (NYSE:CHGG) – Equities research analysts at William Blair reduced their Q1 2020 earnings estimates for shares of Chegg in a research report issued on Tuesday, February 11th. William Blair analyst S. Sheldon now anticipates that the technology company will post earnings of $0.04 per share for the quarter, down from their previous forecast of $0.05. William Blair also issued estimates for Chegg’s Q2 2020 earnings at $0.16 EPS, Q3 2020 earnings at ($0.06) EPS, Q4 2020 earnings at $0.37 EPS and FY2020 earnings at $0.52 EPS.
Chegg (NYSE:CHGG) last announced its earnings results on Monday, February 10th. The technology company reported $0.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.06. Chegg had a positive return on equity of 11.53% and a negative net margin of 2.34%. The business had revenue of $125.50 million for the quarter, compared to analyst estimates of $123.05 million. During the same period in the previous year, the company earned $0.25 earnings per share. The company’s revenue for the quarter was up 31.1% compared to the same quarter last year.
A number of other analysts have also issued reports on the company. Needham & Company LLC lifted their target price on Chegg from $50.00 to $53.00 and gave the stock a “buy” rating in a research report on Tuesday. Citigroup lifted their target price on Chegg from to and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Lake Street Capital lifted their target price on Chegg from $35.00 to $39.00 and gave the stock a “hold” rating in a research report on Tuesday. ValuEngine raised Chegg from a “sell” rating to a “hold” rating in a research report on Friday, January 10th. Finally, Zacks Investment Research lowered Chegg from a “buy” rating to a “hold” rating in a research report on Tuesday. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $47.25.
Shares of NYSE CHGG opened at $40.08 on Friday. Chegg has a 1 year low of $28.29 and a 1 year high of $48.22. The firm has a market cap of $4.83 billion, a price-to-earnings ratio of -400.76, a PEG ratio of 3.93 and a beta of 0.98. The company has a debt-to-equity ratio of 1.89, a quick ratio of 9.50 and a current ratio of 9.50. The stock’s 50-day simple moving average is $41.08 and its 200-day simple moving average is $37.57.
A number of large investors have recently bought and sold shares of CHGG. Marshall Wace LLP acquired a new position in shares of Chegg during the fourth quarter worth approximately $7,126,000. Bank of New York Mellon Corp boosted its position in shares of Chegg by 1.9% during the fourth quarter. Bank of New York Mellon Corp now owns 468,309 shares of the technology company’s stock worth $17,753,000 after buying an additional 8,844 shares during the period. Marshall Wace North America L.P. acquired a new position in shares of Chegg during the fourth quarter worth approximately $1,421,000. Penserra Capital Management LLC boosted its position in shares of Chegg by 76.9% during the fourth quarter. Penserra Capital Management LLC now owns 413,216 shares of the technology company’s stock worth $15,664,000 after buying an additional 179,637 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of Chegg by 30.6% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,074,880 shares of the technology company’s stock worth $40,749,000 after buying an additional 251,770 shares during the period.
In related news, insider Michael A. Osier sold 24,000 shares of Chegg stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $44.24, for a total value of $1,061,760.00. Following the completion of the transaction, the insider now directly owns 416,741 shares in the company, valued at $18,436,621.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael A. Osier sold 8,000 shares of Chegg stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $43.74, for a total value of $349,920.00. Following the completion of the transaction, the insider now owns 424,741 shares of the company’s stock, valued at $18,578,171.34. The disclosure for this sale can be found here. Insiders sold 806,197 shares of company stock valued at $31,730,908 over the last quarter. Insiders own 5.80% of the company’s stock.
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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