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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 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 solver, a step-by-step math problem solver and calculator that helps students to solve problems; and Thinkful, a skills-based learning platform that offers professional courses in the areas of software engineering, data science, data analytics, product design, and product management directly to students.
The company also provides other services, such as Chegg Prep and internships, college admission and scholarship services; rents and sells print textbooks and eTextbooks; and offers supplemental materials.
Chegg reported 1st Quarter March 2020 earnings of $0.21 per share on revenue of $131.6 million. The consensus earnings estimate was $0.15 per share on revenue of $123.6 million. Revenue grew 35.1% on a year-over-year basis.
The company said it expects second quarter revenue of $135.0 million to $137.0 million. The current consensus revenue estimate is $125.6 million for the quarter ending June 30, 2020.
Chegg's strong earnings report and it's bullish flag chart reveals that this stock should continue to rise in price.
Entry point: $65.00
52-week trade range: $25.89 - $66.40
Stop/Loss: $61.75
Target Price: $71.50
CHGG closed at $72.00
