The stock of Chegg Inc (NYSE:CHGG) last traded at $10.36, down -1.24% from the previous session.
Data from the available sources indicates that Chegg Inc (NYSE:CHGG) is covered by 17 analysts. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $13.00 and a low of $8.00, we find $10.00. Given the previous closing price of $10.49, this indicates a potential downside of -4.67 percent. CHGG stock price is now 17.53% away from the 50-day moving average and -11.74% away from the 200-day moving average. The market capitalization of the company currently stands at $1.20B.
In total, 15 analysts have assigned it a hold rating, and 1 have given it a buy rating. Brokers who have rated the stock have averaged $10.31 as their price target over the next twelve months.
With the price target reduced from $25 to $11, Jefferies Downgraded its rating from Buy to Hold for Chegg Inc (NYSE: CHGG).
In other news, Schultz Nathan J., CHIEF OPERATING OFFICER sold 1,547 shares of the company’s stock on Sep 13. The stock was sold for $15,563 at an average price of $10.06. Upon completion of the transaction, the CHIEF OPERATING OFFICER now directly owns 429,501 shares in the company, valued at $4.45 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 05, CHIEF OPERATING OFFICER Schultz Nathan J. sold 818 shares of the business’s stock. A total of $8,672 was realized by selling the stock at an average price of $10.60. This leaves the insider owning 434,816 shares of the company worth $4.5 million. Insiders disposed of 252,480 shares of company stock worth roughly $2.62 million over the past 1 year. A total of 3.54% of the company’s stock is owned by insiders.
With an opening price of $10.30 on Thursday morning, Chegg Inc (NYSE: CHGG) set off the trading day. During the past 12 months, Chegg Inc has had a low of $7.32 and a high of $30.05. As of last week, the company has a debt-to-equity ratio of 0.60, a current ratio of 2.31, and a quick ratio of 2.31. The fifty day moving average price for CHGG is $8.81 and a two-hundred day moving average price translates $11.74 for the stock.
The latest earnings results from Chegg Inc (NYSE: CHGG) was released for Sep, 2023. According to the Education & Training Services Company, earnings per share came in at $0.18, beating analysts’ expectations of $0.17 by 0.01. This compares to $1.70 EPS in the same period last year. The net profit margin was 1.41% and return on equity was 1.00% for CHGG. The company reported revenue of $157.85 million for the quarter, compared to $164.74 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -4.18 percent. For the current quarter, analysts expect CHGG to generate $187.44M in revenue.
Chegg Inc(CHGG) Company Profile
Chegg, Inc. operates direct-to-student learning platform that supports students starting with their academic journey and extending into their careers with products and services to support learner with their academic course materials. The company offers Chegg Services, which include subscription services; and skills and other, including skills, advertising services, print textbooks, and eTextbooks. Its subscription services include Chegg Study, which helps students master challenging concepts on their own; Chegg Writing that provides students with a suite of tools, such as plagiarism detection scans, grammar and writing fluency checking, expert personalized writing feedback, and premium citation generation; Chegg Math, a step-by-step math problem solver and calculator that helps students to solve problems; Chegg Study Pack, a bundle of various Chegg Services product offerings, including Chegg Study, Chegg Writing, and Chegg Math services, which creates an integrated platform of connected academic support services; and Busuu, an online language learning solution that offers a comprehensive solution through a combination of self-paced lessons, live classes with expert tutors, and the ability to learn and practice with members of the Busuu language learning community. The company also provides skills-based learning platform that offers professional courses along with networking, interviewing, and career services; and rents and sells print textbooks and eTextbooks. Chegg, Inc. was incorporated in 2005 and is headquartered in Santa Clara, California.