Chegg Inc (NYSE:CHGG) price on Wednesday, May 21, fall -1.99% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $0.98.
A look at the stock’s price movement, the close in the last trading session was $1.00. Turning to its 52-week performance, $4.18 and $0.44 were the 52-week high and 52-week low respectively. Overall, CHGG moved 72.19% over the past month.
Chegg Inc’s market cap currently stands at around $104.45 million, with investors looking forward to this quarter’s earnings report slated for in June.
Analysts have a consensus estimate of 100.89M for the company’s revenue for the quarter, with a low and high estimate of 100M and 101.5M respectively. The average forecast suggests down to a -38.16% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 413.47M, representing a -33.05% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that CHGG is a Hold. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
15 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 7 analyst(s) rate the stock as a Hold, 2 recommend CHGG as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 6 say it is a Sell. As such, the average rating for the stock is Hold which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
CHGG’s current price about 27.60% and 44.09% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 74.08, while 7-day volatility ratio is 17.40% and 11.35% in the 30-day chart. Further, Chegg Inc (CHGG) has a beta value of 1.78, and an average true range (ATR) of 0.09. Analysts have given the company’s stock an average 52-week price target of $20, forecast between a low of $1.5 and high of $110. Looking at the price targets, the low is -53.06% off current price level while to achieve the yearly target high, price needs to move -11124.49%. Nonetheless, investors will most likely welcome a -1940.82% jump to $20 which is the analysts’ median price.
If we refocus on Chegg Inc (NYSE:CHGG), historical trading data shows that trading volumes averaged 3.29 million over the past 3 months. The company’s latest data on shares outstanding shows there are 105.38 million shares.
The 7.16% of Chegg Inc’s shares are in the hands of company insiders while institutional holders own 62.94% of the company’s shares. Current price change has pushed the stock -39.12% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the CHGG stock continues to rise going into the next quarter.
