{"id":15475,"date":"2014-02-18T09:18:03","date_gmt":"2014-02-18T14:18:03","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/?p=15475"},"modified":"2014-02-18T09:15:41","modified_gmt":"2014-02-18T14:15:41","slug":"chegg-incnysechgg-loss-dips-below-22","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/chegg-incnysechgg-loss-dips-below-22-15475","title":{"rendered":"Chegg Inc(NYSE:CHGG) Loss Dips Below 22%"},"content":{"rendered":"<p style=\"text-align: justify;\">Boston, MA 02\/18\/2014 (wallstreetpr) &#8211; For <strong>Chegg Inc(NYSE:CHGG)<\/strong><b>, <\/b>the Santa Clara-based student learning platform which places power in the hands of students through its smart money-saving offers, has been hitting the pit-falls and as of February second week, 2014 is down nearly 22 per cent from its first quarter 2014 Outlook.<\/p>\n<p style=\"text-align: justify;\">On Feb 13<sup>, <\/sup>2014, the company reported its fourth quarter results and the full-year performance of 2013. The downslide, many believe continued after the Initial Public Issue offered by the company in November of 2013. Though the company reported 12% increase in the fourth quarter revenue, the investor response has been flat. The revenue for the fourth quarter was $77.1million.<\/p>\n<p style=\"text-align: justify;\"><b>Fourth quarter guidance runs flat<\/b><\/p>\n<p style=\"text-align: justify;\">Chegg Inc (NYSE:CHGG) has announced flat guidance in the first quarter of 2014. The revenue estimates were ranged between $70 and $72 million. The EBITDA is in the region of $22 to $20 million for the fourth-quarter.<\/p>\n<p style=\"text-align: justify;\">Poor guidance, nearly always results with downgrades and there was no surprise when most analysts posted downgrades, including Bank of America which moved the company from Buy to Neutral. The Price Target too was revised to $8.00 per share.<\/p>\n<p style=\"text-align: justify;\">Chegg Inc (NYSE:CHGG) downward slide is due to the drop in the rental services it provides for printed text books. As text books move to online format, the pressure on the printed text rentals have grown steadily for this learning platform. On a comparative basis the company found that its slaes were down by over 3% on a year to year comparison, during the fourth quarter, valued at $60.5 million. Contrastingly, Chegg Inc, the student-domain learning services provider had recorded revenue rise of 70% valued at $16.7 million.<\/p>\n<p style=\"text-align: justify;\">Chegg Inc (NYSE:CHGG) has seen variation in its subscriber base and currently holds 6.9 million members and with over 464 thousand subscribed for the Chegg Study Program it offers currently.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Boston, MA 02\/18\/2014 (wallstreetpr) &#8211; For Chegg Inc(NYSE:CHGG), the Santa Clara-based student learning platform which places power in the hands of students through its smart [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":15476,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[2236],"tags":[4624,4625],"stock_ticker":[],"class_list":["post-15475","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-chegg-incnysechgg","tag-nysechgg","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - 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