Wall Street brokerages forecast that Chegg, Inc. (NYSE:CHGG) will post $70.49 million in sales for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Chegg’s earnings. The lowest sales estimate is $69.60 million and the highest is $71.19 million. Chegg posted sales of $63.06 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 11.8%. The firm is scheduled to report its next quarterly earnings results on Monday, February 12th.

According to Zacks, analysts expect that Chegg will report full-year sales of $70.49 million for the current year, with estimates ranging from $242.11 million to $252.75 million. For the next financial year, analysts forecast that the firm will post sales of $295.72 million per share, with estimates ranging from $295.00 million to $296.59 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Chegg.

Chegg (NYSE:CHGG) last announced its earnings results on Monday, October 30th. The technology company reported $0.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. Chegg had a negative return on equity of 5.06% and a negative net margin of 10.40%. The firm had revenue of $62.60 million for the quarter, compared to the consensus estimate of $57.75 million. During the same period in the previous year, the business earned ($0.17) EPS. The firm’s revenue for the quarter was down 12.2% on a year-over-year basis.

CHGG has been the topic of several research analyst reports. Citigroup initiated coverage on Chegg in a research note on Monday, November 20th. They set a “buy” rating and a $19.00 target price on the stock. J P Morgan Chase & Co boosted their target price on Chegg from $15.00 to $18.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 1st. Zacks Investment Research downgraded Chegg from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. BidaskClub downgraded Chegg from a “buy” rating to a “hold” rating in a research note on Saturday, August 26th. Finally, Barrington Research restated an “outperform” rating and set a $19.00 target price (up from $17.00) on shares of Chegg in a research note on Tuesday, October 31st. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $15.42.

In other Chegg news, CEO Daniel Rosensweig sold 200,000 shares of the business’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $14.03, for a total transaction of $2,806,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Michael A. Osier sold 114,928 shares of the business’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $14.69, for a total value of $1,688,292.32. Following the sale, the insider now owns 591,902 shares in the company, valued at approximately $8,695,040.38. The disclosure for this sale can be found here. In the last quarter, insiders have sold 645,154 shares of company stock worth $9,466,299. Company insiders own 20.40% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. Legal & General Group Plc grew its stake in Chegg by 2.6% during the 2nd quarter. Legal & General Group Plc now owns 20,648 shares of the technology company’s stock valued at $254,000 after purchasing an additional 525 shares during the last quarter. Amalgamated Bank grew its stake in Chegg by 9.0% during the 2nd quarter. Amalgamated Bank now owns 10,916 shares of the technology company’s stock valued at $134,000 after purchasing an additional 905 shares during the last quarter. Nationwide Fund Advisors grew its stake in Chegg by 2.2% during the 2nd quarter. Nationwide Fund Advisors now owns 47,047 shares of the technology company’s stock valued at $578,000 after purchasing an additional 1,005 shares during the last quarter. Rhumbline Advisers grew its stake in Chegg by 1.2% during the 2nd quarter. Rhumbline Advisers now owns 92,001 shares of the technology company’s stock valued at $1,131,000 after purchasing an additional 1,092 shares during the last quarter. Finally, Parametric Portfolio Associates LLC grew its stake in Chegg by 4.2% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 45,058 shares of the technology company’s stock valued at $554,000 after purchasing an additional 1,823 shares during the last quarter.

Chegg (NYSE:CHGG) opened at $15.00 on Friday. Chegg has a one year low of $6.84 and a one year high of $16.50.

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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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