These Analysts Slash Their Forecasts On Chegg After Q2 Results
Portfolio Pulse from Avi Kapoor
Chegg, Inc. (NYSE:CHGG) reported better-than-expected Q2 results but issued lower-than-expected Q3 revenue guidance. Despite beating Q2 revenue and earnings estimates, Chegg's stock fell 22.5% due to the disappointing Q3 outlook. Analysts from Piper Sandler, Northland Capital Markets, and Morgan Stanley lowered their price targets for Chegg.
August 06, 2024 | 4:26 pm
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Chegg reported better-than-expected Q2 results but issued lower-than-expected Q3 revenue guidance. Despite beating Q2 revenue and earnings estimates, Chegg's stock fell 22.5% due to the disappointing Q3 outlook. Analysts from Piper Sandler, Northland Capital Markets, and Morgan Stanley lowered their price targets for Chegg.
Chegg's Q2 results were positive, but the weak Q3 guidance overshadowed the good news, leading to a significant stock price drop. Analysts' lowered price targets further indicate a bearish short-term outlook.
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