Chegg Inc (NYSE:CHGG) shares traded -1.50% lower at $4.61 on Wall Street last session.
CHGG stock price is now -33.42% away from the 50-day moving average and -48.64% away from the 200-day moving average. The market capitalization of the company currently stands at $471.23M.
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With the price target reduced from $7 to $4, Jefferies Downgraded its rating from Hold to Underperform for Chegg Inc (NYSE: CHGG). On April 30, 2024, Craig Hallum Downgraded its previous ‘Buy’ rating to ‘Hold’ on the stock reducing its target price from $13 to quote $7, while ‘JP Morgan’ rates the stock as ‘Neutral’
In other news, Schultz Nathan J., CHIEF OPERATING OFFICER sold 1,350 shares of the company’s stock on Dec 13 ’23. The stock was sold for $14,054 at an average price of $10.41. Upon completion of the transaction, the CHIEF OPERATING OFFICER now directly owns 421,025 shares in the company, valued at $1.94 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 04 ’23, CHIEF OPERATING OFFICER Schultz Nathan J. sold 630 shares of the business’s stock. A total of $6,382 was realized by selling the stock at an average price of $10.13. This leaves the insider owning 426,802 shares of the company worth $1.97 million. A total of 3.44% of the company’s stock is owned by insiders.
During the past 12 months, Chegg Inc has had a low of $4.51 and a high of $13.11. As of last week, the company has a debt-to-equity ratio of 0.64, a current ratio of 0.92, and a quick ratio of 0.92.
According to the Education & Training Services Company, earnings per share came in at 0.28, missing analysts’ expectations of 0.29 by -0.01. This compares to $0.02 EPS in the same period last year. The net profit margin was 2.07% and return on equity was 1.48% for CHGG. The company reported revenue of $174.35 million for the quarter, compared to $187.6 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -7.06 percent. For the current quarter, analysts expect CHGG to generate $160.04M in revenue.
Chegg Inc(CHGG) Company Profile
Chegg, Inc. operates a direct-to-student learning platform that helps learners build essential life and job skills to accelerate their path from learning programs in the United States and internationally. Its subscription services include Chegg Study, which offers personalized step-by-step learning support from AI, computational engines, and subject matter experts, as well as Tinger Gold and DashPash Student services; 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 subscription product offerings, including Chegg Study, Chegg Writing, and Chegg Math services; and Busuu, an online language learning platform that offers comprehensive support through self-paced lessons, live classes with expert tutors, and a community of members to practice alongside. The company also provides a skills-based learning platform to learn technical skills comprising AI, coding, data analytics, and cybersecurity, as well as competencies consisting of emotional intelligence, mindset, emerging leadership, and decision making. In addition, it rents and sells print textbooks and eTextbooks; and offers advertising services. The company serves students and companies through direct marketing channels and social media. Chegg, Inc. was incorporated in 2005 and is headquartered in Santa Clara, California.
