Chegg Inc [NYSE: CHGG] traded at a high on Thursday, posting a 1.86 gain after which it closed the day’ session at $1.64.
The results of the trading session contributed to over 3388872 shares changing hands. Over the past one week, the price volatility of Chegg Inc stands at 7.14% while the volatility over the past one month is 9.25%.
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The market cap for CHGG stock reached $171.06 million, with 103.97 million shares outstanding and 98.59 million shares in the current float. Compared to the average trading volume of 4.01M shares, CHGG reached a trading volume of 3388872 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus 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 $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 0.18, with the Price to Sales ratio for CHGG stock in the period of the last 12 months amounting to 0.26. The Price to Book ratio for the last quarter was 0.92, with the Price to Cash per share for the same quarter was set at 3.47. Price to Free Cash Flow for CHGG in the course of the last twelve months was 1.76 with Quick ratio for the last quarter at 0.91.
How has CHGG stock performed recently?
Chegg Inc [CHGG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -16.75. With this latest performance, CHGG shares dropped by -27.43% in over the last four-week period, additionally sinking by -44.59% over the last 6 months – not to mention a drop of -85.25% 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 36.89, with the RSI for the last a single of trading hit 29.74, and the three-weeks RSI is set at 41.05 for Chegg Inc [CHGG]. The present Moving Average for the last 50 days of trading for this stock 1.9084, while it was recorded at 1.7040 for the last single week of trading, and 3.3819 for the last 200 days.
Chegg Inc [CHGG]: Deeper insight into the fundamentals
Chegg Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.91 and a Current Ratio set at 0.91.
Earnings analysis for Chegg Inc [CHGG]
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%.
Insider trade positions for Chegg Inc [CHGG]
There are presently around $83.17%, or 86.86%% 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%.
