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Chegg, Inc. (CHGG) operates direct-to-student learning platform that supports students on their journey from high school to college and into their career with tools designed to help them pass their test, pass their class, and save money on required materials.
The company offers Chegg Services, which include digital products and services; and required materials that comprise its print textbooks and eTextbooks.
Its digital products and services include Chegg Study, which helps students master challenging concepts on their own; Chegg Writing that enables automatically generate sources in the required formats, when students need to cite their sources in written work; Chegg Tutors that allow students find human help on its learning platform through a network of live tutors; Chegg Math, an adaptive math technology and developer of the math application; Brand Partnership, which offers various ways for student-relevant brands to reach and engage high school and college students; Test Prep that provides students with an online adaptive test preparation services; and internships services.
The company rents and sells print textbooks and eTextbooks; and offers supplemental materials and textbook buyback services.
Shares are heading higher in a bullish "trading channel". Shares are presently at the lower boundary of the channel.
On July 29th, Chegg (CHGG) reported 2nd Quarter June 2019 earnings of $0.16 per share on revenue of $93.9 million. The consensus earnings estimate was $0.10 per share on revenue of $92.3 million. Revenue grew 26.5% on a year-over-year basis.
The company said it expects third quarter revenue of $88.0 million to $90.0 million. The current consensus revenue estimate is $88.3 million for the quarter ending September 30, 2019. The company said it expects 2019 revenue of $398.0 million to $402.0 million. The company's previous guidance was revenue of $393.0 million to $398.0 million and the current consensus estimate is revenue of $396.7 million for the year ending December 31, 2019.
Entry Point: $43.00
Stop Loss: $40.85
Trading Range: $22.67 to $48.22
Target Price: $47.30
Closed at $36
