Chegg Inc. (NYSE:CHGG) has a beta value of 0.82 and has seen 3,678,522 shares traded in the last trading session. The company, currently valued at $11.78 Billion, closed the last trade at $83.01 per share which meant it lost -$7.32 on the day or -8.1% during that session. The CHGG stock price is -38.79% off its 52-week high price of $115.21 and 57.94% above the 52-week low of $34.91. If we look at the company’s 10-day average daily trading volume, we find that it stood at 1.36 Million shares traded. The 3-month trading volume is 2.02 Million shares.
The consensus among analysts is that Chegg Inc. (CHGG) is an Overweight stock at the moment, with a recommendation rating of 2. 1 analysts rate the stock as a Sell, while 1 rate it as Overweight. 3 out of 18 have rated it as a Hold, with 13 advising it as a Buy. None have rated the stock as Underweight. The expected earnings per share for the stock is $0.45.
Chegg Inc. (NYSE:CHGG) trade information
Despite being -8.1% in the red in last session, the stock has traded in the green over the last five days, with the highest price hit on Thursday, Apr 29 when the CHGG stock price touched $96.94- or saw a rise of 14.37%. Year-to-date, Chegg Inc. shares have moved -8.1%, while the 5-day performance has seen it change -13.5%. Over the past 30 days, the shares of Chegg Inc. (NYSE:CHGG) have changed -5.94%. Short interest in the company has seen 12.4 Million shares shorted with days to cover at 6.14.
Wall Street analysts have a consensus price target for the stock at $112.24, which means that the shares’ value could jump 35.21% from current levels. The projected low price target is $75 while the price target rests at a high of $125. In that case, then, we find that the current price level is +50.58% off the targeted high while a plunge would see the stock lose -9.65% from current levels.
Chegg Inc. (CHGG) estimates and forecasts
Figures show that Chegg Inc. shares have outperformed across the wider relevant industry. The company’s shares have gained +10.92% over the past 6 months, with this year growth rate of 26.87%, compared to -0.9% for the industry. Other than that, the company has, however Increased its growth outlook for the 2021 fiscal year revenue. Growth estimates for the current quarter are 21.6% and 17.6% for the next quarter. Revenue growth from the last financial year stood is estimated to be +22.8%.
14 analysts offering their estimates for the company have set an average revenue estimate of $192.55 Million for the current quarter. 14 have an estimated revenue figure of $172.62 Million for the next quarter concluding in September 01, 2021. Year-ago sales stood $153.01 Million for this quarter, and analysts expect sales will grow by 25.8% for the current quarter.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was +40.8% over the past 5 years. Earnings growth for 2021 is a modest +38.4% while over the next 5 years, the company’s earnings are expected to increase by 30%.
Chegg Inc. (NYSE:CHGG)’s Major holders
Insiders own 1.53% of the company shares, while shares held by institutions stand at 94.78% with a share float percentage of 96.25%. Investors are also buoyed by the number of investors in a company, with Chegg Inc. having a total of 638 institutions that hold shares in the company. The top two institutional holders are Baillie Gifford and Company with over 15.99 Million shares worth more than $1.44 Billion. As of December 30, 2020, Baillie Gifford and Company held 11.27% of shares outstanding.
The other major institutional holder is Vanguard Group Inc. (The), with the holding of over 11.01 Million shares as of December 30, 2020. The firm’s total holdings are worth over $994.26 Million and represent 7.76% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Vanguard U.S. Growth Fund and Vanguard Total Stock Market Index Fund. As of February 27, 2021, the former fund manager holds about 2.72% shares in the company for having 3857763 shares of worth $372.39 Million while later fund manager owns 3.44 Million shares of worth $310.75 Million as of December 30, 2020, which makes it owner of about 2.43% of company’s outstanding stock.