Chegg (NYSE:CHGG) Releases Quarterly Earnings Results


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

CHGG traded down $0.01 during trading on Tuesday, reaching $83.00. 182,503 shares of the stock were exchanged, compared to its average volume of 1,806,300. The stock has a market cap of $11.77 billion, a P/E 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 stock’s 50 day moving average price is $90.07 and its two-hundred day moving average price is $88.74. The company has a debt-to-equity ratio of 2.38, a quick ratio of 9.09 and a current ratio of 9.09.

CHGG has been the topic of several research reports. Northland Securities upped their price target on Chegg from $95.00 to $110.00 and gave the company an “outperform” rating in a report on Tuesday, February 9th. Bank of America lifted their price objective on shares of Chegg from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, January 14th. BMO Capital Markets boosted their target price on shares of Chegg from $91.00 to $106.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 9th. Barrington Research reaffirmed an “outperform” rating and set a $120.00 price objective (up previously from $110.00) on shares of Chegg in a research report on Tuesday, February 9th. They noted that the move was a valuation call. Finally, Piper Sandler upped their target price on shares of Chegg from $110.00 to $124.00 and gave the company an “overweight” rating in a research note on Tuesday, February 9th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $104.22.

In other Chegg news, insider John Paul Fillmore sold 51,505 shares of the company’s stock in a transaction on Wednesday, March 3rd. The shares were sold at an average price of $90.15, for a total value of $4,643,175.75. Following the transaction, the insider now directly owns 160,159 shares in the company, valued at $14,438,333.85. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CMO Esther Lem sold 34,449 shares of the company’s stock in a transaction on Monday, March 15th. The shares were sold at an average price of $89.34, for a total transaction of $3,077,673.66. Following the completion of the transaction, the chief marketing officer now owns 157,835 shares in the company, valued at $14,100,978.90. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 465,668 shares of company stock worth $45,003,983. 3.10% of the stock is owned by corporate insiders.

Chegg Company Profile

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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