Chegg Inc (NYSE:CHGG) shares, rose in value, with the stock price up by 0.99% to the previous day’s close as strong demand from buyers drove the stock to $7.13.
Actively observing the price movement in the last trading, the stock closed the session at $7.06. Referring to stock’s 52-week performance, its high was $18.77, and the low was $7.04. On the whole, CHGG has fluctuated by -10.31% over the past month.
As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.25, which is expected to increase to $0.34 for fiscal year $1.13 and then to about $1.16 by fiscal year 2025. Data indicates that the EPS growth is expected to be 2.70% in 2025, while the next year’s EPS growth is forecast to be 2.70%.
Analysts have estimated the company’s revenue for the quarter at $174.1 million, with a low estimate of $173.36 million and a high estimate of $175.4 million. According to the average forecast, sales growth in current quarter could jump down -7.20%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $685.45 million, representing a decrease of -4.30% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that CHGG’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 50% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of CHGG currently trading nearly -7.77% and -16.60% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 31.55, while the 7-day volatility ratio is showing 3.91% which for the 30-day chart, stands at 3.62%. Furthermore, Chegg Inc (CHGG)’s beta value is 1.28, and its average true range (ATR) is 0.30.
A comparison of Chegg Inc (CHGG) with its peers suggests the former has fared considerably weaker in the market. CHGG showed an intraday change of 0.99% in last session, and over the past year, it shrunk by -56.55%%.
Data on historical trading for Chegg Inc (NYSE:CHGG) indicates that the trading volumes over the past 10 days have averaged 1.91 million and over the past 3 months, they’ve averaged 2.75 million. According to company’s latest data on outstanding shares, there are 102.82 million shares outstanding.
Nearly 3.81% of Chegg Inc’s shares belong to company insiders and institutional investors own 97.27% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 15.68 million shares as on Mar 15, 2024, resulting in a short ratio of 5.84. According to the data, the short interest in Chegg Inc (CHGG) stood at 15.23% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 17.28 million. The stock has fallen by -37.24% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the CHGG stock heading into the next quarter.
