Chegg Inc Stock Price, News & Analysis

Chegg, Inc. (NYSE: CHGG) has priced its upsized public offering of 9,804,000 shares at $102.00 each, expected to close on February 22, 2021. The offering includes a 30-day option for underwriters to purchase an additional 1,470,600 shares. Proceeds will be used for general corporate purposes, including potential acquisitions and debt repayment. Chegg will not receive proceeds from shares sold by the selling stockholder. Morgan Stanley, Goldman Sachs & Co. LLC, and Allen & Company LLC are managing the offering.

Chegg, Inc. (NYSE: CHGG) has announced a public offering of $800 million in common stock. The offering includes an option for underwriters to purchase an additional $120 million in shares. Proceeds will be allocated for general corporate purposes, including acquisitions and debt repayment. Notably, Chegg will not receive proceeds from the shares sold by its CEO, Dan Rosensweig. The offering is contingent on market conditions and may vary in size and terms. Morgan Stanley, Goldman Sachs & Co. LLC, and Allen & Company LLC will manage the offering.

Chegg, Inc. (NYSE:CHGG) reported strong Q4 2020 results, with total net revenues of $205.7 million, a 64% increase year-over-year. Chegg Services revenues grew to $176.0 million, accounting for 86% of total revenues. The net income was $26.0 million, while non-GAAP net income reached $77.8 million.

For the full year, revenues reached $644.3 million, up 57%. The company expects 2021 total net revenues between $780 million and $790 million, with significant growth in Chegg Services.

Chegg, Inc. (NYSE: CHGG) has partnered with Arizona State University to launch a new online training program through its career accelerator, Thinkful. This initiative targets the growing demand for tech talent by offering data science, software engineering, and app design courses, available full-time or part-time, culminating in a Professional Certificate from ASU. According to McKinsey, 375 million workers may need to shift careers due to automation. Thinkful boasts an impressive 83% job placement rate within six months of graduation, aiming to bridge the skills gap in high-paying tech jobs.

Chegg Inc. (NYSE: CHGG) has launched Honor Shield, a new tool for faculty aimed at maintaining the integrity of online assessments amid the pandemic. This free service allows professors to pre-submit exam questions, preventing answers from appearing on Chegg during a specified exam period. Following a successful trial, the service is now available to faculty in the U.S. and will expand globally. Chegg's initiative addresses concerns about academic integrity, especially as a significant percentage of colleges remain partially online.

Chegg, Inc. (NYSE: CHGG) announced its upcoming earnings release for the fourth quarter and full fiscal year 2020, ending December 31, 2020. The results will be disclosed on February 8, 2021, after market close. A conference call to discuss the results is scheduled for the same day at 1:30 PM PST (4:30 PM EST). Investors can access the call by dialing 1-877-407-4018, or through a live webcast at investor.chegg.com. An audio replay will be available post-call until February 15, 2021.

Chegg, Inc. (NYSE: CHGG) has appointed Sarah Bond, Corporate Vice President of Gaming Ecosystem at Microsoft, to its Board of Directors, effective December 2, 2020. Bond, who has a strong background in subscription-based services, is expected to enhance Chegg's mission to support students academically. With experience at Microsoft and T-Mobile, she played a significant role in growing Xbox Game Pass. Her insight into innovative partnerships could provide valuable perspectives as Chegg continues to focus on educational technology.

Chegg, Inc. (NYSE:CHGG) reported Q3 2020 financial results with total net revenues of $154.0 million, reflecting a 64% increase year-over-year. Chegg Services revenues surged 72% to $118.9 million, constituting 77% of total revenues. Despite a net loss of $37.1 million, non-GAAP net income reached $24.1 million with adjusted EBITDA of $31.9 million. The company raised its 2020 guidance, projecting fourth-quarter revenues between $188 million and $190 million and full-year revenues of $626 million to $628 million. For 2021, Chegg anticipates revenues of approximately $775 million.

Chegg, Inc. (NYSE: CHGG) announced its third quarter 2020 earnings release scheduled for October 26, 2020, post-market. The company will hold a conference call at 1:30 PM PDT (4:30 PM EDT) on the same day to discuss financial results. Investors can access the call by dialling the provided numbers or through a live webcast at Chegg’s investor relations site. An audio replay will be available from October 26, 2020, to November 2, 2020.

Chegg continues to prioritize student outcomes with its broad range of online educational services.