Chicken Soup for the Soul's Crackle announces integrated brand partnerships » 09:3105/1205/12/21
Crackle Plus, a Chicken…
Crackle Plus, a Chicken Soup for the Soul Entertainment announced five integrated brand partnerships for season two of Crackle original series, Going From Broke. The six-episode season, executive produced by Ashton Kutcher and Chicken Soup for the Soul Entertainment, premieres Thursday, May 20 on Crackle with new episodes launching weekly on Thursdays. Chegg (CHGG) returns for another season, doubling down on its mission to help young people struggling with debt. Season two brand integration partners include: Airbnb, and co-founder and CEO Brian Chesky, works with Tina to help her maximize her home as a source of income by hosting and offers inspiration as a fellow entrepreneur. Business formation website, Incfile, provides Isabel and Jake & Chelsea tools to turn their side hustles into actual businesses by simplifying the incorporation process. Roommates.com introduces The Donovanto their platform to find the perfect roommate as a solution to pay down debt. In need of a better paying job with more flexible hours, Enam gets help from Smart Job Search to tap into the hidden job market and streamline the process of job hunting.
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Chegg remains in 'early innings of growth,' says Piper Sandler » 09:3905/0405/04/21
Piper Sandler analyst…
Piper Sandler analyst Arvind Ramnani lowered the firm's price target on Chegg to $107 from $112 and keeps an Overweight rating on the shares. The company's Q1 growth and margin results that exceeded consensus, backed by continued subscriber growth, account sharing efforts, and international, Ramnani tells investors in a research note. The analyst sees "encouraging signs" that Chegg will continue to see good growth in a post post-pandemic environment. However, its June quarter growth rates could moderate as the company laps "exceptional" year-over-year results, says Ramnani. Nonetheless, the analyst still believes Chegg is "in its early innings of growth" and would be a buyer of the stock on the second half setup.
Chegg price target lowered to $93 from $98 at Lake Street » 08:4705/0405/04/21
Lake Street analyst Eric…
Lake Street analyst Eric Martinuzzi lowered the firm's price target on Chegg to $93 from $98 despite what he calls a "strong" first quarter, citing dilution from the company's equity raise in February. Martinuzzi, who notes that Chegg's comps are about to get tougher, keeps a Hold rating on the shares.
Chegg guidance 'better than feared,' says Morgan Stanley » 07:5705/0405/04/21
Morgan Stanley analyst…
Morgan Stanley analyst Josh Baer said Chegg "easily beat the important metrics," including total revenue, subscribers, services revenue, EBITDA and EBITDA margins, in Q1 and while its Q2 guidance was more in line with consensus, he thinks it was "likely better than feared." In light of weakness in first half results and guidance from other consumer internet players exposed to tough COVID-driven comps, Baer thinks Chegg's FY21 guidance raise and "bullish" long-term commentary "paint the picture that Chegg does not fit in the Covid-beneficiary bucket," Baer tells investors. He keeps an Overweight rating on Chegg shares with a $115 price target.
Chegg price target lowered to $100 from $120 at Raymond James » 07:4405/0405/04/21
Raymond James analyst…
Raymond James analyst Brian Peterson lowered the firm's price target on Chegg to $100 from $120 and keeps an Outperform rating on the shares following "impressive" Q1 results. While services growth and subscriber trends continue to benefit from the current pandemic, developments should support the notion that trends look more structural in nature, particularly the company's success in international markets, Peterson tells investors in a research note.
Chegg price target lowered to $115 from $124 at KeyBanc » 07:1205/0405/04/21
KeyBanc analyst Jason…
KeyBanc analyst Jason Celino lowered the firm's price target on Chegg to $115 from $124 to reflect higher share count/dilution, while keeping an Overweight rating on the shares. The analyst notes Chegg reported "solid" Q1 results, beating Chegg Services and subscriber growth. The company also raised 2021 Chegg Services revenue by $10M, Celino adds.
Fly Intel: After-Hours Movers » 18:4205/0305/03/21
CHGG, CC, KFRC, RMBS, SANM, IRBT, MAXR, LGND, MOS, VNOM, VRNS, CAR, SEDG, ADUS, BOOM, HLIT
UP AFTER EARNINGSChegg…
Chegg sees Q2 revenue $188M-$190M, consensus $192.31M » 16:1505/0305/03/21
Sees Q2 Chegg Services…
Sees Q2 Chegg Services revenue of $166M-$168M, gross margin between 69% and 70% and adjusted EBITDA in the range of $72M-$74M.
Chegg raises FY21 revenue view to $790M-$800M, consensus $790.46M » 16:1405/0305/03/21
Sees FY21 Chegg Services…
Sees FY21 Chegg Services revenues in the range of $675M-$685M, gross margin between 68% and 69% and adjusted EBITDA in the range of $275M-$280M.
Chegg reports Q1 adjusted EPS 28c, consensus 30c » 16:1205/0305/03/21
Reports Q1 revenue…
Reports Q1 revenue $198.4M, consensus $184.59M. Reports 4.8 M Chegg Services subscribers, an increase of 64% year-over-year. Reports 356M total Chegg Study content views. "We are in a unique position to impact the future of the higher education ecosystem. Our strong brand and momentum will allow us to continue to grow and take advantage of the ever-expanding opportunities in the learner economy," said Dan Rosensweig, CEO and President of Chegg.