Chegg's Earnings Outlook
Portfolio Pulse from Benzinga Insights
Chegg (NYSE:CHGG) is set to release its latest quarterly earnings report on Monday, 2023-08-07, with analysts estimating an earnings per share (EPS) of $0.28. The company's past performance shows a pattern of share price changes following earnings reports. Last quarter, Chegg beat EPS estimates by $0.01, which was followed by a 48.41% drop in the share price. Over the last 52-week period, shares are down 52.25%.
August 04, 2023 | 3:33 pm
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NEGATIVE IMPACT
Chegg's upcoming earnings report could potentially impact its share price, as seen in previous quarters. The company's shares have been on a downward trend, with a 52.25% drop over the last 52 weeks.
Historically, Chegg's share price has shown significant movement following earnings reports. Given the recent downward trend of the company's shares, and the fact that a previous earnings beat was followed by a substantial drop in share price, it is likely that the upcoming earnings report could have a negative impact on the stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100