Chegg Inc (NYSE: CHGG) – Suitable For Long Term Buy?

Currently, there are 102.82M common shares owned by the public and among those 99.36M shares have been available to trade.

Insiders at the company have transacted a total of 64 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 20 of these insider trades were purchases, accounting for 791,053 shares. Insider sales of the common stock occurred on 44 occasions, with total insider shares sold totaling 152,057 shares.

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However, the script later moved the day high at 9.14, up 1.12%. The company’s stock has a 5-day price change of 1.35% and -11.37% over the past three months. CHGG shares are trading -20.42% year to date (YTD), with the 12-month market performance down to -41.72% lower. It has a 12-month low price of $7.32 and touched a high of $18.77 over the same period. CHGG has an average intraday trading volume of 2.82 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 1.27%, -9.47%, and -6.07% respectively.

Institutional ownership of Chegg Inc (NYSE: CHGG) shares accounts for 97.21% of the company’s 102.82M shares outstanding.

It has a market capitalization of $930.67M and a beta (3y monthly) value of 1.28. The earnings-per-share (ttm) stands at -$0.37. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.15% over the week and 3.98% over the month.

Analysts forecast that Chegg Inc (CHGG) will achieve an EPS of $0.24 for the current quarter, $0.28 for the next quarter and $1.15 for 2025. The lowest estimate earnings-per-share for the quarter is $0.2 while analysts give the company a high EPS estimate of $0.28. Comparatively, EPS for the current quarter was $0.27 a year ago. Earnings per share for the fiscal year are expected to increase by 2.85%, and 2.18% over the next financial year. EPS should grow at an annualized rate of 20.00% over the next five years, compared to -20.81% over the past 5-year period.

Looking at the support for the CHGG, a number of firms have released research notes about the stock. Piper Sandler stated their Underweight rating for the stock in a research note on February 06, 2024, with the firm’s price target at $9-$8.50. Goldman coverage for the Chegg Inc (CHGG) stock in a research note released on January 19, 2024 offered a Sell rating with a price target of $8. Morgan Stanley was of a view on November 20, 2023 that the stock is Underweight, while Jefferies gave the stock Hold rating on May 02, 2023, issuing a price target of $25- $11. Barrington Research on their part issued Mkt Perform rating on May 02, 2023.

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