Chegg is scheduled to release its third-quarter earnings report early next week. What can investors expect from Chegg's earnings? Should you buy the stock before the earnings report?
When is Chegg’s earnings date?
Chegg will likely report its third-quarter results on Oct. 26 during the after-hours trading session. The education technology company has scheduled an earnings conference call on the same day at 4:30 p.m. ET.
In the third quarter, Wall Street analysts expect Chegg to post sales of $143.68 million, which would be 52.6 percent higher than $94.15 million in sales in the third quarter of 2019. Analysts also expect Chegg to post an adjusted EPS of $0.10 in the third quarter compared to $0.18 in the same quarter a year ago. In the second quarter of 2020, Chegg reported an adjusted EPS of $0.37 and sales of $153 million.
What is Chegg’s stock price today?
Chegg stock trades on the NYSE under the ticker symbol “CHGG.” The stock was up about 1.1 percent at $87.50 in the pre-market trading session on Friday, Oct. 23 as of 9:21 a.m. ET. The stock rose 0.6 percent on Oct. 22 and closed at $86.55 with a market capitalization of $11.1 billion.
Chegg stock has risen by 2.6 percent in the last five days and 164.6 percent in the last year. The stock is trading 3.6 percent below its 52-week high of $89.82 and 234.3 percent above its 52-week low of $25.89. Right now, Chegg doesn’t pay a dividend.
What is Chegg’s stock forecast?
Currently, analysts' stock price forecast for Chegg is $93.93, which suggests an 8.5 percent upside. The highest target price of $105 implies a 21.3 percent upside, while the lowest target price of $77 suggests an 11 percent downside. Among the 15 Wall Street analysts tracking Chegg, 12 recommend a buy and three recommend a hold. None of the analysts recommend a sell.
Chegg stock could be a buy on every dip for a digital learning future. The company provides online tutoring, digital and physical textbook rentals, and other student services. There's an ongoing demand for Chegg’s services because none of its rivals offer a robust platform. As a result, the company’s average revenue per user will likely grow going forward.
Chegg’s investor relations
Chegg has scheduled a third-quarter 2020 earnings conference call on Oct. 26 at 4:30 p.m. ET. Investors and financial analysts can access the live webcast of the call on the company’s investor relations website.