On Jan. 07, Rosensweig Daniel divested U.S. $2,552,006 in shares of Chegg Inc.. The Pres, CEO, CO-COB sold 28,000 shares at a price per share of $91.14. The transaction decreased this specific insider’s holdings to 1,955,932 shares worth around $189.0 million at present.
BofA Securities launched its Chegg Inc. [CHGG] rating to the equivalent of a Buy and assigned the price target of $100, in a research note dated November 30, 2020. That figure represents around a 3.37% premium from where the company’s shares closed on Friday. Some new analysts also started their coverage, with BofA Securities’s analysts assigning the shares to “a Buy” rating in a research note to investors issued in late November. Meanwhile, Exane BNP Paribas had launched its coverage on CHGG with “an Underperform”, in a research note produced for clients November 06, 2020. In addition, there was a new coverage from Piper Sandler on August 26, 2020. The research firm rated CHGG “an Overweight”.
Is Chegg Inc. [NYSE:CHGG] a Good Buy Right Now?
It should be noted that CHGG technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 100% Buy in the last week and compares with 64% Buy in the past month. Data from Chegg Inc.’s Trend Spotter indicated that the signals were Strongest. The stock current average is 1.76 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 1.94 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 2.27 million shares.
CHGG Price Performance
On Wall Street, Chegg Inc. [NYSE:CHGG] finished Friday’s session up 5.93% at $96.63. The stock went up to $96.89 at the same session while its lowest single day price was $92.2944. In the last five days, it saw a rise of about 6.97%, Chegg Inc. shares gained by almost 6.97% since the beginning of the year. However, the share price has dropped to as low as 1.50% below its one year high. On 01/08/21, the company shares recorded $96.89, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $85.87. The company’s shares have inclined by 138.65% in the past year. The 50-day SMA achieved is $79.68 while the 200-day SMA is $68.82. Volume gained to 2.91 million from 1.05 million in the previous session.
CHGG Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 93.65 level, and in case of violation of this particular level, it will cause more drop to 90.68 level. On the upper level, 99.87 is still the key resistance. The stock may increase to the subsequent resistance at 98.25. The Relative Strength Index (RSI) pinned on the 14-day chart is 69.11, implying a neutral technical stance while the MACD stands at 1.46, meaning price will increase in the next trading period. Percent R indicator moved to 2.36%, implying bullish price movement. Stochastic %K at 65.63% suggest holding the stock.
What is the short interest in Chegg Inc.?
Short interest in the Chegg Inc. stock has surged, increasing by 0.56 million shares to total 13.51 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 14.07 million, data from Yahoo Finance shows. The decrease of -4.15% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 12.13% of the overall float for the stock.
Chegg Inc.’s Biggest Shareholders: Who Owns Chegg Inc. [CHGG]?
Filings by Baillie Gifford & Co. showed that the firm now holds a total of 15,985,840 shares or roughly 12.41% of the outstanding CHGG shares. This means their shares have increased by 249,377 from the 15,985,840 the investor reportedly held in its prior 13-F filing. With the conclusion of the purchase, The Vanguard Group, Inc. updated stake is worth $802,420,584. Details in the latest 13F filings reveal that Artisan Partners LP acquired their 41.34% stake valued at $545,972,437 while Fred Alger Management LLC added theirs at $419,998,046. During the last quarter, Artisan Partners LP raised 2,049,211 of its shares in Chegg Inc. while Fred Alger Management LLC bought 832,897 shares. The BlackRock Fund Advisors’s holdings currently number 4,975,685 shares at $480800441.55. According to the firm’s last 13F report, Sylebra Capital Ltd. shares in the company at filing stood at 3,309,954 shares, roughly $257,944,715.
CHGG Earnings Forecast For The Current Quarter
Chegg Inc. [CHGG] is expected to report strong earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $189.55M and an earnings per share of $0.49 for Dec 2020. Looking further ahead, the company is expected to report revenue of $175.8M at an EPS of $0.3 for Mar 2021. The estimates represent upside of 24.10% and 30.78% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
CHGG Earnings Estimates For The Current Year
For the financial year, Chegg Inc. [NYSE:CHGG] is expected to bring in revenue of $628.55M. The returns are nearly $217.62 million higher than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at 1.25, higher than that of FY19 by $0.34. Estimates put this year’s earnings growth at 37.40%, 31.20% for the next, and at an annual 30.00% over the next 5-year period. As for sales, forecasts are for an increase of 53.00% in the current fiscal year and a further 24.10% over the following year.
What are analyst thoughts on Chegg Inc.?
Looking forward to the Chegg Inc. share price prediction, we can see that analysts, surveyed by FactSet, offer the mean price target for Chegg Inc. stock at $97.50 within the next 12 months, which represents almost 0.89 per cent growth from its previous closing price of $96.63. The highest analysts’ target for Chegg Inc. stock projections is $105.00 and the lowest one is $55.00. Still, 17 analysts sharing their consensus rating for CHGG stock in 2021 agree that it is an Overweight.