Chegg (NYSE:CHGG) Issues Earnings Results


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Chegg (NYSE:CHGG) released its quarterly earnings data on Sunday. The technology company reported $0.28 EPS for the quarter, missing the Zacks’ 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 the consensus estimate of $184.59 million. During the same period last year, the firm earned $0.22 earnings per share. The company’s revenue for the quarter was up 50.8% compared to the same quarter last year.

Shares of NYSE CHGG traded up $0.17 during trading hours on Tuesday, reaching $83.18. 5,301,918 shares of the stock traded hands, compared to its average volume of 1,848,514. The company has a market capitalization of $11.80 billion, a P/E ratio of -415.90, a price-to-earnings-growth ratio of 3.14 and a beta of 0.99. The company has a quick ratio of 9.09, a current ratio of 9.09 and a debt-to-equity ratio of 2.38. Chegg has a 52-week low of $53.00 and a 52-week high of $115.21. The company’s 50-day simple moving average is $89.94 and its two-hundred day simple moving average is $88.74.

In other Chegg news, CEO Daniel Rosensweig sold 300,000 shares of Chegg stock in a transaction that occurred on Monday, February 22nd. The stock was sold at an average price of $99.55, for a total value of $29,865,000.00. Following the transaction, the chief executive officer now directly owns 1,607,090 shares of the company’s stock, valued at approximately $159,985,809.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Paul Fillmore sold 51,505 shares of Chegg stock in a transaction that occurred on Wednesday, March 3rd. The stock was sold at an average price of $90.15, for a total value of $4,643,175.75. Following the completion of the transaction, the insider now directly owns 160,159 shares in the company, valued at $14,438,333.85. The disclosure for this sale can be found here. Over the last three months, insiders have sold 465,668 shares of company stock worth $45,003,983. 3.10% of the stock is currently owned by insiders.

A number of equities analysts have commented on the stock. KeyCorp reduced their price objective on shares of Chegg from $124.00 to $115.00 and set an “overweight” rating for the company in a research report on Tuesday. Craig Hallum lifted 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. Lake Street Capital reduced their price objective on shares of Chegg from $98.00 to $93.00 and set a “hold” rating for the company in a research report on Tuesday. Barrington Research reissued an “outperform” rating and issued a $120.00 target price (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, Zacks Investment Research cut shares of Chegg from a “hold” rating to a “sell” rating in a research report on Tuesday. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. The stock has an average rating of “Buy” and an average 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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