Chegg Inc [CHGG] stock prices are up 5.12% to $7.59 at the moment. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The CHGG shares have gain 6.45% over the last week, with a monthly amount drifted -7.21%, and not seem to be holding up well over a long-time horizon.
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On 4, April 2024, Chegg to Announce First Quarter 2024 Financial Results. In a post published today on Yahoo Finance, Chegg, Inc. (NYSE: CHGG), the leading student-first connected learning platform, announced today that it is scheduled to release its earnings results for the first quarter of 2024, which ended March 31, 2024, on Monday, April 29, 2024, after the market close. Chegg will host a conference call to discuss the first quarter financial results at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time) on the same day.
From an analyst’s perspective:
Previously, Piper Sandler downgraded its rating to Underweight on February 06, 2024, and dropped its price target to $8.50. On January 19, 2024, downgrade downgraded it’s rating to Sell and revised its price target to $8 on the stock. Morgan Stanley downgraded its rating to a Underweight and decreased its price target to $9 on November 20, 2023. Jefferies downgraded its rating to a Hold and reduced its price target to $11 on May 02, 2023. Barrington Research downgraded its rating to Mkt Perform for this stock on May 02, 2023. In a note dated April 20, 2023, Craig Hallum upgraded an Buy rating on this stock and boosted its target price from $20 to $25.
The stock price of Chegg Inc [CHGG] has been fluctuating between $6.98 and $18.77 over the past year. Currently, Wall Street analysts expect the stock to reach $36.09 within the next 12 months. Chegg Inc [NYSE: CHGG] shares were valued at $7.59 at the most recent close of the market. An investor can expect a potential return of 375.49% based on the average CHGG price forecast.
Analyzing the CHGG fundamentals
The Chegg Inc [NYSE:CHGG] reported sales of 716.29M for trailing twelve months, representing a drop of -8.39%. Gross Profit Margin for this corporation currently stands at 0.68% with Operating Profit Margin at -0.08%, Pretax Profit Margin comes in at 0.07%, and Net Profit Margin reading is 0.03%. To continue investigating profitability, this company’s Return on Assets is posted at 0.01, Equity is 0.02 and Total Capital is -0.05. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.64.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 7.34 points at the first support level, and at 7.10 for the second support level. However, for the 1st resistance point, the stock is sitting at 7.71, and for the 2nd resistance point, it is at 7.84.
Chegg Inc [CHGG] reported earnings per share of $0.36 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.36/share, meaning a difference of $0 and a surprise factor of 0.00%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $0.18 per share as compared to estimates of $0.17 per share, a difference of $0.01 representing a surprise of 5.90%.
Ratios To Look Out For
It’s worth pointing out that Chegg Inc [NYSE:CHGG]’s Current Ratio is 0.80. Further, the Quick Ratio stands at 0.80, while the Cash Ratio is 0.26. Considering the valuation of this stock, the price to sales ratio is 1.09, the price to book ratio is 0.83.
Transactions by insiders
Recent insider trading involved Schultz Nathan J., CHIEF OPERATING OFFICER, that happened on Dec 13 ’23 when 1350.0 shares were sold. CHIEF OPERATING OFFICER, Schultz Nathan J. completed a deal on Dec 04 ’23 to sell 630.0 shares. Meanwhile, CHIEF FINANCIAL OFFICER BROWN ANDREW J sold 16921.0 shares on Nov 27 ’23.
