Equities Analysts Set Expectations for Chegg Inc’s FY2018 Earnings (CHGG)

Chegg Inc (NYSE:CHGG) – Investment analysts at Jefferies Group upped their FY2018 earnings per share estimates for shares of Chegg in a research report issued to clients and investors on Tuesday. Jefferies Group analyst B. Thill now expects that the technology company will post earnings of $0.12 per share for the year, up from their prior forecast of $0.09. Jefferies Group also issued estimates for Chegg’s FY2019 earnings at $0.27 EPS.

Chegg (NYSE:CHGG) last released its quarterly earnings data on Monday, February 12th. The technology company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02. The company had revenue of $73.51 million for the quarter, compared to the consensus estimate of $70.61 million. Chegg had a negative return on equity of 2.64% and a negative net margin of 7.95%. The company’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same period last year, the business posted $0.10 EPS.

A number of other research firms also recently commented on CHGG. Citigroup initiated coverage on Chegg in a report on Monday, November 20th. They issued a “buy” rating and a $19.00 price objective on the stock. JPMorgan Chase & Co. raised their price objective on Chegg from $15.00 to $18.00 and gave the stock an “overweight” rating in a report on Wednesday, November 1st. Northland Securities restated a “buy” rating and issued a $20.00 price objective on shares of Chegg in a report on Tuesday, January 9th. Barrington Research restated an “outperform” rating and issued a $19.00 price objective (up from $17.00) on shares of Chegg in a report on Tuesday, October 31st. Finally, BMO Capital Markets reiterated a “buy” rating and set a $20.00 target price on shares of Chegg in a report on Wednesday, January 17th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $17.09.

Chegg (CHGG) opened at $19.57 on Friday. The company has a market capitalization of $2,120.00, a PE ratio of -93.19, a PEG ratio of 6.85 and a beta of 1.74. Chegg has a twelve month low of $7.81 and a twelve month high of $19.96.

In other Chegg news, insider Esther Lem sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $14.36, for a total transaction of $143,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael A. Osier sold 200,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $15.25, for a total value of $3,050,000.00. Following the sale, the insider now owns 653,061 shares of the company’s stock, valued at approximately $9,959,180.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 869,323 shares of company stock worth $14,302,385. Company insiders own 20.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Gilder Gagnon Howe & Co. LLC grew its stake in Chegg by 4.2% during the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 7,337,758 shares of the technology company’s stock valued at $119,752,000 after purchasing an additional 294,847 shares in the last quarter. Sylebra HK Co Ltd grew its stake in Chegg by 3.8% during the 3rd quarter. Sylebra HK Co Ltd now owns 6,956,896 shares of the technology company’s stock valued at $103,240,000 after purchasing an additional 257,847 shares in the last quarter. BlackRock Inc. grew its stake in Chegg by 1.3% during the 4th quarter. BlackRock Inc. now owns 5,566,601 shares of the technology company’s stock valued at $90,847,000 after purchasing an additional 71,515 shares in the last quarter. Alliancebernstein L.P. grew its stake in Chegg by 14.0% during the 4th quarter. Alliancebernstein L.P. now owns 3,331,046 shares of the technology company’s stock valued at $54,363,000 after purchasing an additional 409,956 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Chegg by 22.7% during the 2nd quarter. Vanguard Group Inc. now owns 3,232,947 shares of the technology company’s stock valued at $39,733,000 after purchasing an additional 597,063 shares in the last quarter.

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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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