While Chegg Inc has underperformed by -3.52%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, CHGG fell by -52.87%, with highs and lows ranging from $18.77 to $7.32, whereas the simple moving average fell by -17.31% in the last 200 days.
On February 06, 2024, Piper Sandler Downgraded Chegg Inc (NYSE: CHGG) to Underweight. A report published by Goldman on January 19, 2024, Downgraded its rating to ‘Sell’ for CHGG. Morgan Stanley also Downgraded CHGG shares as ‘Underweight’, setting a target price of $9 on the company’s shares in a report dated November 20, 2023. Jefferies May 02, 2023d the rating to Hold on May 02, 2023, and set its price target from $25 to $11. Barrington Research May 02, 2023d its ‘Outperform’ rating to ‘Mkt Perform’ for CHGG, as published in its report on May 02, 2023. Craig Hallum’s report from April 20, 2023 suggests a price prediction of $25 for CHGG shares, giving the stock a ‘Buy’ rating. KeyBanc Capital Markets also rated the stock as ‘Sector Weight’.
Analysis of Chegg Inc (CHGG)
Further, the quarter-over-quarter decrease in sales is -8.39%, showing a negative trend in the upcoming months.
In order to gain a clear picture of Chegg Inc’s future performance, a variety of well-rounded analysis and research techniques can be applied, with equity being the most critical. The goal here is to ensure that your current return on equity of 1.76% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 0.80, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
An average volume of 2.86M can be a very valuable indicator of volatility for CHGG stock. On a monthly basis, the volatility of the stock is set at 4.28%, whereas on a weekly basis, it is put at 4.60%, with a loss of -7.02% over the past seven days. Furthermore, long-term investors anticipate a median target price of $9.66, showing growth from the present price of $7.95, which can serve as yet another indication of whether CHGG is worth investing in or should be passed over.
How Do You Analyze Chegg Inc Shares?
In addition to the fundamentals, you should also consider how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 3.49%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 97.21% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
CHGG shares are owned by institutional investors to the tune of 97.21% at present.
