In the last trading session, 2.67 million shares of the Chegg Inc (NYSE:CHGG) were traded, and its beta was 1.35. Most recently the company’s share price was $2.40, and it changed around -$0.05 or -2.04% from the last close, which brings the market valuation of the company to $245.23M. CHGG currently trades at a discount to its 52-week high of $11.48, offering almost -378.33% off that amount. The share price’s 52-week low was $1.34, which indicates that the current value has risen by an impressive 44.17% since then. We note from Chegg Inc’s average daily trading volume that its 10-day average is 5.19 million shares, with the 3-month average coming to 4.13 million.
Chegg Inc stock received a consensus recommendation rating of Hold, based on a mean score of 3.36. If we narrow it down even further, the data shows that 1 out of 11 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 9 recommended CHGG as a Hold, whereas 0 deemed it a Buy, and 1 rated it as Underweight. Chegg Inc is expected to report earnings per share of 0.18 for the current quarter.
Chegg Inc (NYSE:CHGG) trade information
Instantly CHGG has showed a red trend with a performance of -2.04% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 2.67 on recent trading dayincreased the stock’s daily price by 10.11%. The company’s shares are currently down -78.87% year-to-date, but still up 13.74% over the last five days. On the other hand, Chegg Inc (NYSE:CHGG) is 36.36% up in the 30-day period. We can see from the shorts that 10.68 million shares have been sold at a short interest cover period of 2.56 day(s).
The consensus price target as assigned by Wall Street analysts is $3, which translates to bulls needing to increase their stock price by 20.0% from its current value. Analyst projections state that CHGG is forecast to be at a low of $1.5 and a high of $4.
Chegg Inc (CHGG) estimates and forecasts
Chegg Inc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -35.14 percent over the past six months and at a -34.55% annual growth rate that is well below the industry average of 24.60%. The year-over-year growth rate is expected to be -13.99%, down from the previous year.
Consensus estimates provided by 10 financial analysts predict the company will bring in an average of 142.03M in revenue for the current quarter. 9 analysts expect Chegg Inc to make 139.32M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 187.99M and 174.35M respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -24.44%. Forecasts for the next quarter put sales growth at -20.09%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -20.81%. Chegg Inc earnings are expected to increase by -29.29% in 2024, but the outlook is positive 30.00% per year for the next five years.
CHGG Dividends
Chegg Inc’s next quarterly earnings report is expected to be released in January.
Chegg Inc (NYSE:CHGG)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 4.29% of Chegg Inc shares, and 83.21% of them are in the hands of institutional investors. The stock currently has a share float of 86.94%. Chegg Inc stock is held by 267.0 institutions, with VANGUARD GROUP INC being the largest institutional investor. By 2024-06-30, it held 11.2071% of the shares, which is about 11.47 million shares worth $36.24 million.
BLACKROCK INC., with 9.1902% or 9.41 million shares worth $29.72 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
