Chegg Inc [NYSE: CHGG] plunged by -$0.14 during the normal trading session on while it closed the day at $8.69. The company report on February 13, 2024 at 10:00 AM that Chegg Announces 2nd Annual Global Student Mental Health Week Amid Growing Loneliness Epidemic.
Global organizations join Chegg to elevate conversations around student mental health, taking place February 26 – March 3.
Chegg, Inc. (NYSE: CHGG), today announced that it has partnered with esteemed non-profits and organizations from around the world for Global Student Mental Health Week 2024, taking place from February 26 to March 3. In its second year, Student Mental Health Week will have a special focus on tackling student loneliness. The World Health Organization has deemed social isolation an issue and a global health priority, and warned of the impact of loneliness on well-being. The Chegg.org Global Student Survey uncovered startling findings about student mental health: 59% of those polled globally say they do not sleep enough, 54% say they have experienced daily feelings of anxiety, and 46% say they have experienced academic burnout.[1].
Chegg Inc stock has also loss -0.46% of its value over the past 7 days. However, CHGG stock has inclined by 2.96% in the 3 months of the year. Over the past six months meanwhile, it has lost -14.38% and lost -23.50% year-on date.
The market cap for CHGG stock reached $893.51 million, with 102.82 million shares outstanding and 99.24 million shares in the current float. Compared to the average trading volume of 2.77M shares, CHGG reached a trading volume of 4988228 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about 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 $9.66 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 3.38. 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.
Piper Sandler have made an estimate for Chegg Inc shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on February 06, 2024.
The Average True Range (ATR) for Chegg Inc is set at 0.44, with the Price to Sales ratio for CHGG stock in the period of the last 12 months amounting to 1.25. The Price to Book ratio for the last quarter was 0.95, with the Price to Cash per share for the same quarter was set at 3.21. Price to Free Cash Flow for CHGG in the course of the last twelve months was 5.48 with Quick ratio for the last quarter at 2.31.
CHGG stock trade performance evaluation
Chegg Inc [CHGG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.46. With this latest performance, CHGG shares dropped by -21.71% in over the last four-week period, additionally sinking by -14.38% over the last 6 months – not to mention a drop of -48.73% 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 29.12, with the RSI for the last a single of trading hit 25.26, and the three-weeks RSI is set at 34.00 for Chegg Inc [CHGG]. The present Moving Average for the last 50 days of trading for this stock 10.36, while it was recorded at 8.69 for the last single week of trading, and 9.75 for the last 200 days.
Chegg Inc [CHGG]: An insightful look at the core fundamentals
Chegg Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.31 and a Current Ratio set at 0.80.
Earnings per share (EPS) analysis for Chegg Inc [CHGG] stock
With the latest financial reports released by the company, Chegg Inc posted 0.27/share EPS, while the average EPS was predicted by analysts to be reported at 0.26/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 3.80%. 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]: Institutional Ownership
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%.
