Stock Mover of The Day: Is Buying Chegg Inc Here a Winning Strategy?

Stock Mover of The Day: Is Buying Chegg Inc Here a Winning Strategy?

The stock of Chegg Inc (NYSE:CHGG) is a huge mover today! About 577,269 shares traded hands. Chegg Inc (NYSE:CHGG) has risen 59.96% since March 3, 2016 and is uptrending. It has outperformed by 51.61% the S&P500.
The move comes after 6 months positive chart setup for the $677.82M company. It was reported on Oct, 6 by Barchart.com. We have $9.40 PT which if reached, will make NYSE:CHGG worth $196.57 million more.

Analysts await Chegg Inc (NYSE:CHGG) to report earnings on November, 7. They expect $-0.17 earnings per share, up 26.09% or $0.06 from last year’s $-0.23 per share. After $-0.08 actual earnings per share reported by Chegg Inc for the previous quarter, Wall Street now forecasts 112.50% negative EPS growth.

Chegg Inc (NYSE:CHGG) Ratings Coverage

Out of 9 analysts covering Chegg Inc (NYSE:CHGG), 8 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 89% are positive. Chegg Inc has been the topic of 12 analyst reports since August 5, 2015 according to StockzIntelligence Inc. Raymond James downgraded the shares of CHGG in a report on Tuesday, February 23 to “Market Perform” rating. The company was maintained on Tuesday, February 23 by Lake Street. The firm has “Buy” rating given on Thursday, November 19 by Craig Hallum. Barrington Research maintained Chegg Inc (NYSE:CHGG) rating on Thursday, September 29. Barrington Research has “Outperform” rating and $11 price target. The firm has “Overweight” rating given on Thursday, September 10 by First Analysis. The stock of Chegg Inc (NYSE:CHGG) earned “Overweight” rating by Piper Jaffray on Tuesday, February 23.

According to Zacks Investment Research, “Chegg, Inc. provides a social education platform. The Company rents and sells print textbooks; and provides eTextbooks, supplemental materials, homework help, textbook buyback, courses, and college admissions and scholarship services, as well as offers enrollment marketing and brand advertising services. Chegg, Inc. is headquartered in Santa Clara, California.”

Insitutional Activity: The institutional sentiment decreased to 1.06 in 2016 Q2. Its down 0.02, from 1.08 in 2016Q1. The ratio fall, as 11 funds sold all Chegg Inc shares owned while 25 reduced positions. 9 funds bought stakes while 29 increased positions. They now own 61.01 million shares or 1.48% less from 61.93 million shares in 2016Q1.
The New York-based Morgan Stanley has invested 0% in Chegg Inc (NYSE:CHGG). Blackrock Lc holds 0% or 34,741 shares in its portfolio. Us National Bank De reported 11,105 shares or 0% of all its holdings. Vanguard Gru reported 2.02 million shares or 0% of all its holdings. Manufacturers Life The holds 0% or 56,528 shares in its portfolio. The New York-based Alliancebernstein L P has invested 0% in Chegg Inc (NYSE:CHGG). Blackrock Invest Mngmt Ltd Llc holds 320,475 shares or 0% of its portfolio. Moreover, Deutsche Retail Bank Ag has 0% invested in Chegg Inc (NYSE:CHGG) for 38,921 shares. Legal & General Gru Public Limited last reported 11,809 shares in the company. Emerald Advisers Pa last reported 0.46% of its portfolio in the stock. Financial Bank Of New York Mellon accumulated 263,511 shares or 0% of the stock. Invesco accumulated 0% or 45,545 shares. Fmr Llc has invested 0% of its portfolio in Chegg Inc (NYSE:CHGG). Citadel Advsr Lc holds 0% of its portfolio in Chegg Inc (NYSE:CHGG) for 38,700 shares. Barclays Public Limited accumulated 0% or 6,698 shares.

Insider Transactions: Since August 2, 2016, the stock had 0 insider buys, and 3 selling transactions for $912,872 net activity. $450,501 worth of Chegg Inc (NYSE:CHGG) shares were sold by GEIGER CHARLES.

More recent Chegg Inc (NYSE:CHGG) news were published by: Fool.com which released: “Why Chegg Inc. Stock Plummeted Today” on February 23, 2016. Also Fool.com published the news titled: “Why Chegg Inc. Stock Popped Today” on February 24, 2015. Seekingalpha.com‘s news article titled: “Chegg: A Misunderstood And Undervalued Internet Stock” with publication date: January 13, 2016 was also an interesting one.

CHGG Company Profile

Chegg, Inc., incorporated on July 29, 2005, is a student-first connected learning platform. The Firm helps students study for college admission exams, find the colleges, get grades and test scores while in school, and find internships that allow them to gain skills to help them enter the workforce after college. The Firm matches domestic and international students with colleges, universities and other academic institutions (collectively referred to as colleges) in the United States. Once in college, it provides a range of services and products to help students. The Firm offers a print textbook library for rent and sale both on its own and through its strategic partnership with Ingram. It also offers eTextbooks for rent and sale. The Firm also provides tutors to students online, through its Chegg Tutors service. It provides access to internships to help students gain skills that are critical to securing their first job. The Firm also provides online writing tools, such as EasyBib, CitationMachine or BibMe.

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