Chegg (CHGG) Announces Quarterly Earnings Results, Beats Estimates By $0.02 EPS
Chegg (NYSE:CHGG) issued its quarterly earnings data on Monday. The technology company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.02, Briefing.com reports. The firm had revenue of $73.51 million during the quarter, compared to analysts’ expectations of $70.61 million. Chegg had a negative return on equity of 5.06% and a negative net margin of 10.40%. Chegg’s revenue was up 16.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.10 earnings per share.
Shares of Chegg (CHGG) opened at $16.36 on Tuesday. The company has a market capitalization of $1,727.48, a price-to-earnings ratio of -62.92, a PEG ratio of 6.25 and a beta of 1.74. Chegg has a 1 year low of $7.21 and a 1 year high of $17.42.
Several research firms have weighed in on CHGG. BidaskClub downgraded Chegg from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. First Analysis downgraded Chegg from an “overweight” rating to an “equal weight” rating and set a $18.00 price target for the company. in a research report on Tuesday, October 31st. Northland Securities reissued a “buy” rating and set a $18.00 price target on shares of Chegg in a research report on Wednesday, November 1st. Zacks Investment Research raised Chegg from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. Finally, BMO Capital Markets reissued a “buy” rating and set a $20.00 price target on shares of Chegg in a research report on Wednesday, January 17th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Chegg presently has a consensus rating of “Buy” and an average price target of $16.45.
Chegg Company Profile
Chegg, Inc is a student-first connected learning platform. The Company helps students study for college admission exams, find the colleges, get grades and test scores while in school, and find internships that allow them to gain skills to help them enter the workforce after college. The Company matches domestic and international students with colleges, universities and other academic institutions (collectively referred to as colleges) in the United States.
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