Chegg Inc (NYSE:CHGG) finished Friday with a subtraction of -$0.02 to close at $8.92, a downside of -0.22 percent. An average of 2,618,940 shares of common stock have been traded in the last five days. There was a fall of -$0.02 in the past week, and it reached a new high 12 times over the past 12 months. The last 20 days have seen an average of 1,874,620 shares traded, while the 50-day average volume stands at 2,717,242.
CHGG stock has decreased by -11.51% in the last month. The company shares reached their 1-month lowest point of $8.65 on 09/27/23. With the stock rallying to its 52-week high on 01/05/23, shares of the company touched a low of $8.55 and a high of $30.05 in 52 weeks. It has reached a new high 3 times so far this year and lost -64.70% or -$16.35 in price. In spite of this, the price is down -70.32% from the 52-week high.
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Insider Transactions
CHGG stock investors should be aware that Chegg Inc (CHGG) stock had its last reported insider trading activity 17 days ago on Sep 13. In this transaction, the insider spent $15,563. CHIEF OPERATING OFFICER, Schultz Nathan J., disposed of 818 shares at a price of $10.60 on Sep 05. The insider now owns more than $8,672 worth of shares. Prior to that, CHIEF OPERATING OFFICER Schultz Nathan J. went on to Sale 1,751 shares at $10.75 each on Jun 14. An amount of $18,823 was transacted.
Valuation Metrics
Chegg Inc (CHGG) has a trailing price-to-earnings (P/E) ratio of 5.51. The stock’s beta is 1.13. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.39, the price-to-book (PB) ratio at 0.99, and the price-to-cash flow ratio at 6.11.
Financial Health
The quick ratio of Chegg Inc for the three months ended June 29 was 3.13, and the current ratio was 3.13, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.76 and a total debt to equity ratio of 0.76 for the quarter ending June 29. Its gross profit as reported stood at $569.5 million compared to revenue of $766.9 million.
Earnings Surprise
For the three-month period that ended June 29, Chegg Inc had $767.04 million in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of $24.61 million in the quarter, while revenues of $2.19 million were grew 69.61%. The analyst consensus anticipated Chegg Inc’s latest quarter earnings to come in at $0.29 per share, but it turned out to be $0.28, a -3.40% surprise. For the quarter, EBITDA amounted to $8.72 million. Shareholders own equity worth $115.32 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Chegg Inc (CHGG) price momentum. RSI 9-day as of the close on 29 September was 32.33%, suggesting the stock is Neutral, with historical volatility in this time frame at 30.26%.
As of today, CHGG’s price is $8.88 -0.22% or -$0.02 from its 5-day moving average. CHGG is currently trading -12.63% lower than its 20-day SMA and -11.68% lower than its 100-day SMA. However, the stock’s current price level is -6.89% below the SMA50 and -67.74% below the SMA200.
The stochastic %K and %D were 12.02% and 8.48%, respectively, and the average true range (ATR) was 0.31. With the 14-day stochastic at 15.21% and the average true range at 0.34, the RSI (14) stands at 36.35%. The stock has reached -0.17 on the 9-day MACD Oscillator while the 14-day reading was at -0.48.
Analyst Ratings
Jefferies downgraded Chegg Inc (NYSE: CHGG) to a a Hold rating in its most recent analyst report. Previously, the stock was rated as a Buy. The consensus rating for Chegg Inc (CHGG) among analysts is Hold. According to current brokerage recommendations, 0 brokerage firms advise that investors sell CHGG, while 15 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 1 others rate it as a “buy”.
What is CHGG’s price target for the next 12 months?
Analysts predict a range of price targets between $10.00 and $18.00, with a median target of $13.00. Taking a look at these predictions, the average price target given by analysts for Chegg Inc (CHGG) stock is $13.05.
