Chegg Q3 Earnings Preview: What The Street Expects From EdTech Stock
Portfolio Pulse from Surbhi Jain
Chegg Inc (NYSE:CHGG) is set to report its Q3 earnings after market close on Monday. The company's financial performance has been concerning due to decreasing demand and increasing competition from other EdTech firms. Subscription revenues have been declining due to increased competition and the emergence of AI tools. Wall Street analysts expect Chegg to report earnings per share of 71 cents for the quarter and $152.67 million in revenue. The consensus price target stands at $12.63 per share. Chegg shares have been rangebound between $8.10 and $8.75 over the last month.
October 30, 2023 | 2:30 pm
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Chegg's Q3 earnings report is expected amid concerns of decreasing demand and increasing competition. Analysts expect an EPS of 71 cents and revenue of $152.67 million. The stock has been rangebound recently.
Chegg's financial performance has been concerning due to decreasing demand for its platform and increasing competition from other EdTech firms. This has led to a decline in subscription revenues. Despite the company's history of beating estimates, the current market conditions and the company's financials may negatively impact the stock price in the short term.
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