Chegg Inc (CHGG) Releases Earnings Results, Reports EPS of $-0.03 EPS

Chegg Inc (CHGG) reported quarterly earnings results on Monday, May-2-2016. The company reported $-0.03 EPS for the quarter. Analysts had a consensus estimate of $-0.03. The company posted revenue of $66.70 million in the period, compared to analysts expectations of $62.86 million. The company’s revenue was down -21.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.07 EPS.

Many Wall Street Analysts have commented on Chegg Inc. Chegg Inc was Downgraded by Raymond James to ” Mkt Perform” on Feb 23, 2016. Shares were Reiterated by Lake Street on Feb 23, 2016 to “Buy” and Lowered the Price Target to $ 8 from a previous price target of $10 .Shares were Reiterated by Piper Jaffray on Feb 23, 2016 to “Overweight” and Lowered the Price Target to $ 6 from a previous price target of $9.50 .

Chegg Inc (CHGG) witnessed a volatile trading activity on Wednesday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $4.66 and reached the intraday high at $4.73. The bulls started the profit booking and pushed the shares to intraday low of $4.65. The trading session was marked by a volume range of 2,78,242 shares exchanging hands. The 52-week high of the shares is $8.84 and the 52-week low is $3.15. The market cap of the company stands at $420 M and there are 8,99,56,930 shares in public circulation.

In a different news, on Feb 25, 2016, Daniel Rosensweig (CEO) purchased 48,842 shares at $4.09 per share price. According to the SEC, on Feb 25, 2016, Andrew J Brown (CFO) purchased 30,000 shares at $4.16 per share price. On Feb 25, 2015, Nathan J. Schultz (CHIEF LEARNING OFFICER) sold 31,919 shares at $8.50 per share price, according to the Form-4 filing with the securities and exchange commission.

Chegg Inc. is a student-first connected learning platform. The Company offer textbooks and from digital offerings. Digital offerings primarily include Student Hub the Company’s connected learning platform its Web-based multiplatform eTextbook Reader eTextbooks and supplemental materials from approximately 120 publishers online tutoring its Chegg Study service College Admissions Scholarship Services and internship services. The Company sources print textbooks eTextbooks and supplemental materials publishers in the United States including Pearson Cengage Learning McGraw Hill Wiley and MacMillan. In addition the Company also offers enrollment marketing services to colleges. The Company also works with brands such as Adobe Dell Microsoft PayPal Proctor & Gamble Red Bull and Shutterfly to provide students with discounts promotions and other products that based on student feedback.

Chegg Inc

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