In the last trading session, 1.7 million shares of the Chegg Inc (NYSE:CHGG) were traded, and its beta was 1.48. Most recently the company’s share price was $1.40, and it changed around -$0.02 or -1.41% from the last close, which brings the market valuation of the company to $146.03M. CHGG currently trades at a discount to its 52-week high of $9.34, offering almost -567.14% off that amount. The share price’s 52-week low was $1.34, which indicates that the current value has risen by an impressive 4.29% since then. We note from Chegg Inc’s average daily trading volume that its 10-day average is 3.04 million shares, with the 3-month average coming to 3.65 million.
Chegg Inc stock received a consensus recommendation rating of Hold, based on a mean score of 3.60. If we narrow it down even further, the data shows that 2 out of 10 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 7 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 0.17 for the current quarter.
Chegg Inc (NYSE:CHGG) trade information
Instantly CHGG has showed a red trend with a performance of -1.41% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 1.6800 on recent trading dayincreased the stock’s daily price by 16.67%. The company’s shares are currently down -13.04% year-to-date, but still down -2.78% over the last five days. On the other hand, Chegg Inc (NYSE:CHGG) is -15.15% down in the 30-day period. We can see from the shorts that 9.77 million shares have been sold at a short interest cover period of 3.18 day(s).
The consensus price target as assigned by Wall Street analysts is $2.75, which translates to bulls needing to increase their stock price by 49.09% 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
The year-over-year growth rate is expected to be -13.99%, down from the previous year.
Consensus estimates provided by 9 financial analysts predict the company will bring in an average of 142.05M in revenue for the current quarter. 8 analysts expect Chegg Inc to make 138.63M 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 -20.49%.
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 -29.55% in 2025, but the outlook is negative -22.89% per year for the next five years.
CHGG Dividends
Chegg Inc’s next quarterly earnings report is expected to be released in March.
Chegg Inc (NYSE:CHGG)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 4.15% of Chegg Inc shares, and 81.88% of them are in the hands of institutional investors. The stock currently has a share float of 85.43%. Chegg Inc stock is held by 253.0 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.
Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF were the top two Mutual Funds as of Sep 30, 2024 . The former held 3.12 shares worth $4.37 million, making up 2.99% of all outstanding shares. On the other hand, iShares Russell 2000 ETF held roughly 2.84 shares worth around $3.97 million, which represents about 2.72% of the total shares outstanding.
