Chegg Inc. (CHGG) Is Up 87.92% in 2020 With Lots of Room to Run

Chegg Inc. (NYSE: CHGG) is 87.92% higher on its value in year-to-date trading and has touched a low of $25.89 and a high of $72.75 in the current 52-week trading range. The CHGG stock was last observed hovering at around $71.24 in the recent trading session, with the current gains setting it 0.07% off its average median price target of $65.00 for the next 12 months. It is also 10.86% off the consensus price target high of $80.00 offered by 14 analysts, but current levels are -62.07% lower than the price target low of $44.00 for the same period.

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At last check, trading at $71.31, the stock is 10.57% and 17.91% above its SMA20 and SMA50 respectively. However, with a current trading volume of 0.84 million and changing 0.10% at the moment leaves the stock 67.19% off its SMA200. CHGG registered 66.49% gain for a year compared to 6-month gain of 83.23%. The firm has a 50-day simple moving average (SMA 50) of $63.15 and a 200-day simple moving average (SMA200) of $46.65.

The stock witnessed a 21.69% loss in the last 1 month and extending the period to 3 months gives it a 103.95%, and is 6.76% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.84% over the week and 5.04% over the month.

Chegg Inc. (CHGG) has around 1401 employees, a market worth around $8.54B and $445.10M in sales. Fwd P/E is 51.66. Profit margin for the company is -2.50%. Distance from 52-week low is 175.43% and -1.98% from its 52-week high. The company has generated returns on investments over the last 12 months (1.10%).

Chegg Inc. (CHGG) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Chegg Inc. (CHGG) is a “Overweight”. 14 analysts offering their recommendations for the stock have an average rating of 2.10, where 4 rate it as a Hold and 1 think it is a “Overweight”. 9 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Chegg Inc. is expected to release its quarterly report on 08/03/2020 and quarterly earnings per share for the current quarter are estimated at $0.32 with sales reaching $136.61M over the same period.The EPS is expected to grow by 38.70% this year, but quarterly earnings will post 33.90% year-over-year. Quarterly sales are estimated to grow 45.50% in year-over-year returns.

Chegg Inc. (CHGG) Top Institutional Holders

397 institutions hold shares in Chegg Inc. (CHGG), with 2.51M shares held by insiders accounting for 2.03% while institutional investors hold 109.30% of the company’s shares. The shares outstanding are 122.43M, and float is at 120.93M with Short Float at 12.83%. Institutions hold 107.08% of the Float.

The top institutional shareholder in the company is Baillie Gifford and Company with over 14.42 million shares valued at $516.0 million. The investor’s holdings represent 11.66% of the CHGG Shares outstanding. As of Mar 30, 2020, the second largest holder is Vanguard Group, Inc. (The) with 10.67 million shares valued at $381.93 million to account for 8.63% of the shares outstanding. The other top investors are Blackrock Inc. which holds 10.55 million shares representing 8.53% and valued at over $377.59 million, while Fred Alger Management, LLC holds 4.98% of the shares totaling 6.15 million with a market value of $220.19 million.

Chegg Inc. (CHGG) Insider Activity

A total of 97 insider transactions have happened at Chegg Inc. (CHGG) in the last six months, with sales accounting for 65 and purchases happening 32 times. The most recent transaction is an insider sale by ROSENSWEIG DANIEL, the company’s PRESIDENT, CEO & CO-CHAIRMAN. SEC filings show that ROSENSWEIG DANIEL sold 28,000 shares of the company’s common stock on Jul 07 at a price of $70.83 per share for a total of $1.98 million. Following the sale, the insider now owns 2.09 million shares.

Chegg Inc. disclosed in a document filed with the SEC on Jul 01 that York John E. (Director) sold a total of 10,000 shares of the company’s common stock. The trade occurred on Jul 01 and was made at $68.02 per share for $0.68 million. Following the transaction, the insider now directly holds 16792.0 shares of the CHGG stock.

Still, SEC filings show that on Jun 29, ROSENSWEIG DANIEL (PRESIDENT, CEO & CO-CHAIRMAN) disposed off 28,000 shares at an average price of $64.84 for $1.82 million. The insider now directly holds 2,119,179 shares of Chegg Inc. (CHGG).

Chegg Inc. (CHGG): Who are the competitors?

The company’s main competitors (and peers) include Aspen Group Inc. (ASPU) that is 113.79% higher over the past 12 months. Alphabet Inc. (GOOGL) is 33.41% up on the 1-year trading charts. Short interest in the company’s stock has risen 11.53% from the last report on May 14, 2020 to stand at a total of 13.73 million short shares sold with a short interest ratio of 4.95.

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