Chegg Inc (NYSE:CHGG)’s traded shares stood at 6.76 million during the last session, with the company’s beta value hitting 1.35. At the close of trading, the stock’s price was $2.56, to imply an increase of 4.49% or $0.11 in intraday trading. The CHGG share’s 52-week high remains $11.48, putting it -348.44% down since that peak but still an impressive 47.66% since price per share fell to its 52-week low of $1.34. The company has a valuation of $267.02M, with an average of 4.78 million shares in intraday trading volume over the past 10 days and average of 4.07 million shares over the past 3 months.
Analysts have given a consensus recommendation of Hold for Chegg Inc (CHGG), translating to a mean rating of 3.36. Of 15 analyst(s) looking at the stock, 6 analyst(s) give CHGG a Sell rating. 0 of those analysts rate the stock as Overweight while 7 advise Hold as 2 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at 0.18.
Chegg Inc (NYSE:CHGG) trade information
After registering a 4.49% upside in the last session, Chegg Inc (CHGG) has traded red over the past five days. The 5-day price performance for the stock is 14.29%, and 53.29% over 30 days. With these gigs, the year-to-date price performance is -77.46%. Short interest in Chegg Inc (NYSE:CHGG) saw shorts transact 10.68 million shares and set a 2.56 days time to cover.
The extremes give us $1.5 and $4 for target low and target high price respectively. As such, CHGG has been trading -56.25% off suggested target high and 41.41% from its likely low.
Chegg Inc (CHGG) estimates and forecasts
Looking at statistics comparing Chegg Inc share performance against respective industry, we note that the company has underperformed competitors. Chegg Inc (CHGG) shares are -30.43% down over the last 6 months, with its year-to-date growth rate lower than industry average at -34.55% against 24.90%. The rating firms project that company’s revenue will shrink -13.99% compared to the previous financial year.
Revenue forecast for the current quarter as set by 10 analysts is 142.03M. Meanwhile, for the current quarter, a total of 9 analyst(s) estimate revenue growth to 139.32M.Earnings reports from the last fiscal year show that sales brought in 187.99M and 174.35M respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to fall -24.44% before dropping -20.09% in the following quarter.
An assessment of the company’s 5-year growth patterns shows that annual earnings shrunk an estimated -20.81% for the past 5-year period. While 2024 is set for a -29.29% return in earnings, projections for the next 5 years are at 30.00% annually.
CHGG Dividends
Chegg Inc has its next earnings report out in January. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too.
Chegg Inc (NYSE:CHGG)’s Major holders
Chegg Inc insiders hold 4.29% of total outstanding shares, with institutional holders owning 83.21% of the shares at 86.94% float percentage. In total, 83.21% institutions holds shares in the company, led by VANGUARD GROUP INC. As of 2024-06-30, the company held over 11.47 million shares (or 11.2071% of shares), all amounting to roughly $36.24 million.
The next major institution holding the largest number of shares is BLACKROCK INC. with 9.41 million shares, or about 9.1902% of shares outstanding. As of the market price on 2024-06-30, these shares were worth $29.72 million.
