Chegg Inc (NYSE:CHGG) does about 2.80M shares in volume on a normal day but saw 2634095 shares change hands in Monday trading. The company now has a market cap of 771.10M USD. Its current market price is $7.49, marking a decrease of -4.10% compared to the previous close of $7.81. The 52 week high reached by this stock is $18.77 whilst the lowest price level in 52 weeks is $7.32.
Chegg Inc (CHGG) has a 20-day trading average at $8.20 and the current price is -60.10% off the 52-week high compared with 2.32% distance from its 52-week low. The 50-day simple moving average of the closing price is $8.98 and its 200-day simple moving average is $9.51. If we look at the stock’s price movements over the week, volatility stands at 3.92%, which decreases to 3.73% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 30.96 to suggest the stock is neutral.
The consensus objective for the share price is $9.53, suggesting that the stock has a potential upside of 21.41% over the period.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on March 11, 2024 when JP Morgan resumed the stock to “Neutral” and issued a price target of $9. Piper Sandler downgraded the stock to “Underweight” from Neutral on February 06, 2024 at a price target of $9-$8.50. Goldman downgraded its price target at $10-$8.
Chegg Inc (CHGG) stock is down -4.34% over the week and -16.03% over the past month. Its price is -34.07% year-to-date and -51.46% over the past year.
CHGG’s earnings per share are forecast to grow by 2.70% this year and 2.70% over next year. Expected sales for next quarter are $173.58 million, which analysts say will come at $685.45 million for the current fiscal year and next year at $696.97 million. In addition, estimates put the company’s current quarterly revenue at an average of $174.1 million.
To reach the target analysts have set, the stock logically needs to grow 21.41 percent from here.
Outstanding shares total 102.82M with insiders holding 2.98% of the shares and institutional holders owning 100.09% of the company’s common stock. The company has a return on investment of 1.51% and return on equity of 1.76%. The forward price to earnings ratio is 6.42. The beta has a value of 1.27. Price to book ratio is 0.82 and price to sales ratio is 1.08.
