Chegg Inc [NYSE: CHGG] gained 12.44% or 0.25 points to close at $2.26 with a heavy trading volume of 9878681 shares.
The daily chart for CHGG points out that the company has recorded -37.74% loss over the past six months.
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If we look at the average trading volume of 3.78M shares, CHGG reached to a volume of 9878681 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $1.86 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 3.36. 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 Neutral, with their previous recommendation back on August 06, 2024. While these analysts kept the previous recommendation, Morgan Stanley dropped their target price from $6.50 to $3.25. The new note on the price target was released on July 16, 2024, representing the official price target for Chegg Inc stock. Previously, the target price had yet another drop from $7 to $4, while Jefferies kept a Underperform rating on CHGG stock. On April 30, 2024, analysts decreased their price target for CHGG shares from 13 to 7.
The Average True Range (ATR) for Chegg Inc is set at 0.17, with the Price to Sales ratio for CHGG stock in the period of the last 12 months amounting to 0.40. The Price to Book ratio for the last quarter was 1.27, with the Price to Cash per share for the same quarter was set at 3.10. Price to Free Cash Flow for CHGG in the course of the last twelve months was 2.71 with Quick ratio for the last quarter at 0.91.
Trading performance analysis for CHGG stock
Chegg Inc [CHGG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 30.64. With this latest performance, CHGG shares gained by 41.25% in over the last four-week period, additionally sinking by -37.74% over the last 6 months – not to mention a drop of -77.73% 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 70.52, with the RSI for the last a single of trading hit 77.88, and the three-weeks RSI is set at 64.43 for Chegg Inc [CHGG]. The present Moving Average for the last 50 days of trading for this stock 1.70, while it was recorded at 1.90 for the last single week of trading, and 4.06 for the last 200 days.
Chegg Inc [CHGG]: A deeper dive into fundamental analysis
Chegg Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.91 and a Current Ratio set at 0.91.
Chegg Inc [CHGG]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Chegg Inc posted 0.36/share EPS, while the average EPS was predicted by analysts to be reported at 0.36/share. 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 30.00%.
An analysis of Institutional ownership at Chegg Inc [CHGG]
There are presently around $83.21%, or 86.94%% of CHGG stock, in the hands of institutional investors. The top three institutional holders of CHGG stocks are: VANGUARD GROUP INC with ownership of 11.47 million shares, which is approximately 11.2071%. BLACKROCK INC., holding 9.41 million shares of the stock with an approximate value of $$29.72 million in CHGG stocks shares; and BLACKROCK INC., currently with $$17.2 million in CHGG stock with ownership which is approximately 5.3195%.
