The brokerages forecast that Chegg, Inc. (NYSE: CHGG) will post sales of $ 173.69 million for the current fiscal quarter, according to Zacks. Eight analysts have released earnings estimates for Chegg. The highest sales estimate is $ 178.06 million and the lowest is $ 172.50 million. Chegg reported sales of $ 154.02 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 12.8%. The company is expected to release its next quarterly earnings report on Monday, October 25.
On average, analysts expect Chegg to report annual sales of $ 812.75 million for the current year, with estimates ranging from $ 809.86 million to $ 820.96 million. For the next fiscal year, analysts predict the company will post revenue of $ 991.86 million, with estimates ranging from $ 969.30 million to $ 1.02 billion. Zacks Investment Research’s sales calculations are an average based on a survey of seller-side research companies that cover Chegg.
Chegg (NYSE: CHGG) last released its quarterly results on Sunday, August 8. The tech company reported earnings per share (EPS) of $ 0.43 for the quarter, beating Thomson Reuters’ consensus estimate of $ 0.37 of $ 0.06. The company posted revenue of $ 198.48 million for the quarter, compared to analysts’ expectations of $ 190.11 million. Chegg had a negative net margin of 5.75% and a positive return on equity of 12.35%. The company’s quarterly revenue increased 29.7% year-over-year. In the same quarter of the previous year, the company achieved earnings per share of $ 0.37.
Several brokerage firms have recently weighed on CHGG. Jefferies Financial Group reaffirmed a “buy” rating and published a target price of $ 95.00 on Chegg shares in a report released on Wednesday, June 30. KeyCorp lowered its target price on Chegg shares from $ 115 to $ 95 and set an “overweight” rating on the stock in a report released Thursday. Zacks Investment Research upgraded Chegg’s shares from a “strong sell” rating to a “conservation” rating in a report released on Friday, July 2. Barrington Research reaffirmed a “buy” rating and published a target price of $ 120.00 on Chegg shares in a report released on Tuesday, August 10. Finally, Needham & Company LLC began covering Chegg’s shares in a report on Wednesday, September 15. They set a “buy” rating and a price target of $ 120.00 for the stock. Two analysts rated the stock with a sell rating, four issued a conservation rating, and twelve gave the company’s stock a buy rating. According to MarketBeat.com, Chegg currently has an average rating of “Buy” and an average target price of $ 101.72.
NYSE: CHGG shares opened at $ 63.67 on Friday. The company’s 50-day mobile average price is $ 78.25 and its 200-day mobile average price is $ 81.68. The stock has a market cap of $ 9.21 billion, a price / earnings ratio of -159.17, a price / earnings-growth ratio of 3.22, and a beta of 0.94. Chegg has a 52-week low of $ 62.34 and a 52-week high of $ 115.21. The company has a quick ratio of 18.64, a current ratio of 18.64 and a debt ratio of 1.25.
A number of large investors have recently bought and sold shares of CHGG. Sigma Planning Corp strengthened its position in Chegg shares by 2.6% during the 2nd quarter. Sigma Planning Corp now owns 5,941 shares of the tech company valued at $ 494,000 after purchasing an additional 150 shares in the last quarter. Jacobi Capital Management LLC strengthened its position in Chegg shares by 100.6% during the 2nd quarter. Jacobi Capital Management LLC now owns 313 shares of the tech company valued at $ 26,000 after purchasing 157 additional shares in the last quarter. Maryland State Retirement & Pension System strengthened its position in Chegg shares by 1.9% during the 2nd quarter. Maryland State Retirement & Pension System now owns 9,990 shares of the tech company worth $ 862,000 after buying 182 more shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund strengthened its position in Chegg shares by 6.7% during the 1st quarter. The Ontario Health Care Pension Plan trust fund now owns 2,988 shares of the tech company worth $ 256,000 after buying 188 more shares in the last quarter. Finally, the Independent Advisor Alliance strengthened its position in Chegg shares by 6.7% during the second quarter. Independent Advisor Alliance now owns 3,024 shares of the tech company valued at $ 251,000 after purchasing 191 more shares in the last quarter. Hedge funds and other institutional investors hold 97.07% of the company’s shares.
Chegg, Inc. engages in learning platform operations for students. It aims to empower students to take control of their education and help them study, pass college entrance exams, achieve their goals, get grades and test results. The company offers compulsory and non-compulsory school materials, including textbooks in any format, access to online homework and textbook solutions, course organization and planning, tools college and university twinning and links with scholarships.
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