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Investing In Chegg Inc. (NYSE: CHGG) Does Not Require High Risk Tolerance

During the last session, Chegg Inc. (NYSE:CHGG)’s traded shares were 2.49 million, with the beta value of the company hitting 1.19. At the end of the trading day, the stock’s price was $9.32, reflecting an intraday loss of -3.82% or -$0.37. The 52-week high for the CHGG share is $30.05, that puts it down -222.42 from that peak though still a striking 6.44% gain since the share price plummeted to a 52-week low of $8.72. The company’s market capitalization is $1.14B, and the average intraday trading volume over the past 10 days was 3.19 million shares, and the average trade volume was 4.53 million shares over the past three months.

Chegg Inc. (CHGG) received a consensus recommendation of a Hold from analysts. That translates to a mean rating of 3.00. CHGG has a Sell rating from 1 analyst(s) out of 15 analysts who have looked at this stock. 13 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 1 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.29.

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Chegg Inc. (NYSE:CHGG) trade information

Chegg Inc. (CHGG) registered a -3.82% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -3.82% in intraday trading to $9.32 this Thursday, 05/25/23, hitting a weekly high. The stock’s 5-day price performance is -1.17%, and it has moved by -49.18% in 30 days. Based on these gigs, the overall price performance for the year is -48.16%. The short interest in Chegg Inc. (NYSE:CHGG) is 10.27 million shares and it means that shorts have 3.58 day(s) to cover.

The consensus price target of analysts on Wall Street is $13.60, which implies an increase of 31.47% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $11.00 and $18.00 respectively. As a result, CHGG is trading at a discount of -93.13% off the target high and -18.03% off the low.

Chegg Inc. (CHGG) estimates and forecasts

Statistics show that Chegg Inc. has underperformed its competitors in share price, compared to the industry in which it operates. Chegg Inc. (CHGG) shares have gone down -67.10% during the last six months, with a year-to-date growth rate less than the industry average at -19.23% against 15.50. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to shrink -19.40% this quarter and then drop -14.30% in the quarter after that. In the rating firms’ projections, revenue will decrease -7.80% compared to the previous financial year.

Revenue for the current quarter is expected to be $176.51 million as predicted by 12 analyst(s). Meanwhile, a consensus of 12 analyst(s) estimates revenue growth to $152.37 million by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $194.72 million and $158.34 million respectively. In this case, analysts expect current quarter sales to shrink by -9.40% and then drop by -3.80% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 60.60%. While earnings are projected to return -16.20% in 2023, the next five years will return 20.00% per annum.

CHGG Dividends

Chegg Inc. is due to release its next quarterly earnings between August 02 and August 07. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Chegg Inc. (NYSE:CHGG)’s Major holders

Chegg Inc. insiders own 2.47% of total outstanding shares while institutional holders control 100.45%, with the float percentage being 103.00%. Baillie Gifford and Company is the largest shareholder of the company, while 416 institutions own stock in it. As of Mar 30, 2023, the company held over 13.46 million shares (or 11.24% of all shares), a total value of $219.39 million in shares.

The next largest institutional holding, with 12.42 million shares, is of Vanguard Group, Inc. (The)’s that is approximately 10.38% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $202.49 million.

Also, the Mutual Funds coming in first place with the largest holdings of Chegg Inc. (CHGG) shares are Amcap Fund and Vanguard U.S. Growth Fund. Data provided on Mar 30, 2023 indicates that Amcap Fund owns about 6.53 million shares. This amounts to just over 5.46 percent of the company’s overall shares, with a $106.44 million market value. The same data shows that the other fund manager holds slightly less at 4.32 million, or about 3.61% of the stock, which is worth about $128.99 million.

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