These Analysts Cut Their Forecasts On Chegg After Q3 Results
Portfolio Pulse from Lisa Levin
Chegg Inc reported better-than-expected Q3 results with revenue of $157.9 million, beating the consensus estimate of $152.67 million. However, the company's shares dipped 16% to trade at $7.45 on Tuesday. Following the earnings announcement, analysts from Piper Sandler, BMO Capital, and Goldman Sachs lowered their price targets on Chegg.
October 31, 2023 | 6:09 pm
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Chegg's Q3 results exceeded expectations, but its shares fell 16%. Analysts from Piper Sandler, BMO Capital, and Goldman Sachs have reduced their price targets on the company.
Chegg's better-than-expected Q3 results did not prevent a 16% drop in its share price. This, coupled with lowered price targets from several analysts, suggests a negative short-term impact on the company's stock.
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