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Chegg's second-half data keeps getting worse

2 weeks ago by Jon Marino in Big Tech, Consumer, Earnings

Chegg ($NYSE:CHGG) is seeing key alternative data points looking downward as it heads into third-quarter earnings - no different than where its stock has been in the second half of 2019. Analysts tracked by Zacks Investment Research are looking for EPS $0.06 when the company reveals earnings numbers on November 4. 

Year-over-year, shares are up - but that's about all the good news to report when it comes to the California-based web retailer of educational materials. 

Recently, Chegg's job postings took a big dive as it prepared to speak with investors and analysts. Postings fell 28% from the beginning of the second half of 2019 - but the biggest drop took place at the end of the quarter.

Chegg's Facebook ($NASDAQ:FB) Likes are not too impressive either - it tends to sway back and forth, around the time new semesters' classes are beginning, when more students are learning about the brand. But, it's clear from the data that this isn't being sustained. 

There may yet be some silver linings - Chegg's 'Homework Help' app, one of its most popular digital offerings, continues to gain clout and new ratings in the Apple ($NASDAQ:AAPL) Store, a sign it is continuing to engage with new students and new reviews. Further, the app's rating is nearly 4.5-out-of-5, so students are clearly pleased. 

About the Data: 

Thinknum tracks companies using the information they post online - jobs, social and web traffic, product sales and app ratings - and creates data sets that measure factors like hiring, revenue and foot traffic. Data sets may not be fully comprehensive (they only account for what is available on the web), but they can be used to gauge performance factors like staffing and sales. 

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Jon Marino

Jon Marino is Thinknum's finance editor, covering the impacts of alternative data on public companies and investors. Prior to joining Thinknum, Jon worked in the ...

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