During the last session, Chegg Inc (NYSE:CHGG)’s traded shares were 2.9 million, with the beta value of the company hitting 1.29. At the end of the trading day, the stock’s price was $1.80, reflecting an intraday gain of 4.05% or $0.07. The 52-week high for the CHGG share is $11.48, that puts it down -537.78 from that peak though still a striking 25.56% gain since the share price plummeted to a 52-week low of $1.34. The company’s market capitalization is $187.75M, and the average intraday trading volume over the past 10 days was 4.46 million shares, and the average trade volume was 3.76 million shares over the past three months.
Chegg Inc (CHGG) received a consensus recommendation of Hold from analysts. That translates to a mean rating of 3.33. CHGG has a Sell rating from 6 analyst(s) out of 15 analysts who have looked at this stock. 7 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 2 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 0.18.
Chegg Inc (NYSE:CHGG) trade information
Chegg Inc (CHGG) registered a 4.05% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 4.05% in intraday trading to $1.80, hitting a weekly high. The stock’s 5-day price performance is 5.26%, and it has moved by 9.76% in 30 days. Based on these gigs, the overall price performance for the year is -82.23%. The short interest in Chegg Inc (NYSE:CHGG) is 10.37 million shares and it means that shorts have 2.69 day(s) to cover.
The consensus price target of analysts on Wall Street is $20, which implies an increase of 91.0% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $1.5 and $110 respectively. As a result, CHGG is trading at a discount of -6011.11% off the target high and 16.67% 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 -52.25% during the last six months, with a year-to-date growth rate less than the industry average at -32.73% against 24.90. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to shrink -49.90% this quarter and then drop -28.45% in the quarter after that. In the rating firms’ projections, revenue will decrease -13.66% compared to the previous financial year.
As companies strive to predict their financial trajectories, we turn our attention to the forthcoming financial quarter. Here are the insights gathered from industry analysts. Revenue for the current quarter is expected to be 145.06M as predicted by 12 analyst(s). Meanwhile, a consensus of 10 analyst(s) estimates revenue growth to 139.74M by the end of current fiscal year. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled 187.99M and 174.35M respectively. In this case, analysts expect current quarter sales to shrink by -22.83% and then drop by -19.85% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -20.81%. While earnings are projected to return -28.18% in 2024, the next five years will return 22.50% per annum.
CHGG Dividends
Chegg Inc is due to release its next quarterly earnings in December. 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 4.29% of total outstanding shares while institutional holders control 83.21%, with the float percentage being 86.94%. VANGUARD GROUP INC is the largest shareholder of the company, while 267.0 institutions own stock in it. As of 2024-06-30, the company held over 11.47 million shares (or 11.2071% of all shares), a total value of $36.24 million in shares.
The next largest institutional holding, with 9.41 million shares, is of BLACKROCK INC.’s that is approximately 9.1902% of outstanding shares. At the market price on 2024-06-30, these shares were valued at $29.72 million.
