Chegg Inc [NYSE: CHGG] price surged by 1.60 percent to reach at $0.16. The company report on January 11, 2024 at 4:30 PM that Chegg to Announce Fourth Quarter and Full Year 2023 Financial Results.
Chegg, Inc. (NYSE: CHGG), the leading student-first connected learning platform, announced today that it is scheduled to release its earnings results for the fourth quarter and full fiscal year of 2023, which ended December 31, 2023, on Monday, February 5, 2024, after the market close. Chegg will host a conference call to discuss the fourth quarter and full year financial results at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time) on the same day.
To access the call, please dial 1-877-407-4018 or outside the U.S. +1-201-689-8471. A live webcast of the call will also be available at https://investor.chegg.com under the Events & Presentations menu. Participants can also access the call using the Call me™ link for instant telephone access to the event, which will be active 15 minutes before the scheduled start time.
The one-year CHGG stock forecast points to a potential upside of 1.93. The average equity rating for CHGG stock is currently 3.25, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on Chegg Inc [CHGG]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CHGG shares is $10.34 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CHGG stock is a recommendation set at 3.25. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Goldman have made an estimate for Chegg Inc shares, keeping their opinion on the stock as Sell, with their previous recommendation back on January 19, 2024.
The Average True Range (ATR) for Chegg Inc is set at 0.46, with the Price to Sales ratio for CHGG stock in the period of the last 12 months amounting to 1.60. The Price to Book ratio for the last quarter was 1.14, with the Price to Cash per share for the same quarter was set at 2.26. Price to Free Cash Flow for CHGG in the course of the last twelve months was 7.27 with Quick ratio for the last quarter at 2.31.
CHGG Stock Performance Analysis:
Chegg Inc [CHGG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.80. With this latest performance, CHGG shares dropped by -8.32% in over the last four-week period, additionally plugging by 0.40% over the last 6 months – not to mention a drop of -50.85% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CHGG stock in for the last two-week period is set at 42.38, with the RSI for the last a single of trading hit 38.78, and the three-weeks RSI is set at 45.97 for Chegg Inc [CHGG]. The present Moving Average for the last 50 days of trading for this stock 10.53, while it was recorded at 9.99 for the last single week of trading, and 10.31 for the last 200 days.
Insight into Chegg Inc Fundamentals:
Chegg Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.31 and a Current Ratio set at 2.31.
CHGG Stock EPS
With the latest financial reports released by the company, Chegg Inc posted 0.4/share EPS, while the average EPS was predicted by analysts to be reported at 0.38/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 5.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CHGG. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Chegg Inc go to 20.00%.
Chegg Inc [CHGG] Institutonal Ownership Details
The top three institutional holders of CHGG stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in CHGG stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in CHGG stock with ownership which is approximately 5.8325%.
