Chegg Inc [CHGG] Stock trading around $6.90 per share: What’s Next?


Chegg Inc [NYSE: CHGG] closed the trading session at $6.90.

The stocks have a year to date performance of -39.26 percent and weekly performance of -8.00 percent. The stock has been moved at -18.73 percent over the last six months. The stock has performed -11.88 percent around the most recent 30 days and changed -35.81 percent over the most recent 3-months.

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If compared to the average trading volume of 2.72M shares, CHGG reached to a volume of 3410677 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 $9.43 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 3.40. 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.

JP Morgan have made an estimate for Chegg Inc shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on March 11, 2024. While these analysts kept the previous recommendation, Piper Sandler dropped their target price from $9 to $8.50. The new note on the price target was released on February 06, 2024, representing the official price target for Chegg Inc stock. Previously, the target price had yet another drop from $10 to $8, while Goldman kept a Sell rating on CHGG stock. On November 20, 2023, analysts decreased their price target for CHGG shares from 10 to 9.

The Average True Range (ATR) for Chegg Inc is set at 0.30, with the Price to Sales ratio for CHGG stock in the period of the last 12 months amounting to 0.99. The Price to Book ratio for the last quarter was 0.75, 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 4.35 with Quick ratio for the last quarter at 0.80.

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 -8.00. With this latest performance, CHGG shares dropped by -11.88% in over the last four-week period, additionally sinking by -18.73% over the last 6 months – not to mention a drop of -61.54% 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 34.28, with the RSI for the last a single of trading hit 33.62, and the three-weeks RSI is set at 35.08 for Chegg Inc [CHGG]. The present Moving Average for the last 50 days of trading for this stock 8.06, while it was recorded at 7.04 for the last single week of trading, and 9.32 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 0.80 and a Current Ratio set at 0.80.

Earnings per share (EPS) analysis for Chegg Inc [CHGG] stock

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 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in CHGG stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in CHGG stock with ownership which is approximately 5.8386%.

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