The stock of Chegg Inc (NYSE:CHGG) hit a new 52-week high and has $9.56 target or 20.00% above today’s $7.97 share price. The 6 months bullish chart indicates low risk for the $751.72 million company. The 1-year high was reported on Nov, 11 by Barchart.com. If the $9.56 price target is reached, the company will be worth $150.34 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 517,477 shares traded hands. Chegg Inc (NYSE:CHGG) has risen 74.77% since April 11, 2016 and is uptrending. It has outperformed by 68.63% the S&P500.
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 13 analyst reports since August 5, 2015 according to StockzIntelligence Inc. Piper Jaffray maintained Chegg Inc (NYSE:CHGG) rating on Tuesday, February 23. Piper Jaffray has “Overweight” rating and $6 price target. The firm has “Buy” rating given on Tuesday, November 8 by Lake Street. The firm earned “Buy” rating on Tuesday, February 23 by Lake Street. Barrington Research maintained Chegg Inc (NYSE:CHGG) on Thursday, September 29 with “Outperform” rating. Raymond James downgraded Chegg Inc (NYSE:CHGG) on Tuesday, February 23 to “Market Perform” rating. The company was initiated on Thursday, September 10 by First Analysis. The stock has “Buy” rating given by Craig Hallum on Thursday, November 19.
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 worsened, 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.
Nationwide Fund Advsr has invested 0% of its portfolio in Chegg Inc (NYSE:CHGG). Par Capital Inc accumulated 8.70 million shares or 0.72% of the stock. Century Companies last reported 458,552 shares in the company. Tiaa Cref Investment Mgmt Limited Com reported 250,485 shares or 0% of all its holdings. Moreover, Act Ii Mngmt Limited Partnership has 3.39% invested in Chegg Inc (NYSE:CHGG) for 854,553 shares. Rhumbline Advisers last reported 0% of its portfolio in the stock. Moreover, Bank & Trust Of America Corp De has 0% invested in Chegg Inc (NYSE:CHGG) for 2,311 shares. Nbw Cap Ltd Com holds 0.42% of its portfolio in Chegg Inc (NYSE:CHGG) for 276,124 shares. Metropolitan Life Insur Ny last reported 0% of its portfolio in the stock. The Switzerland-based Swiss National Bank has invested 0% in Chegg Inc (NYSE:CHGG). Moreover, Fmr Lc has 0% invested in Chegg Inc (NYSE:CHGG) for 936,200 shares. Primecap Company Ca last reported 11.23M shares in the company. Us Commercial Bank De has invested 0% of its portfolio in Chegg Inc (NYSE:CHGG). Penbrook Mgmt Ltd Limited Liability Company holds 1.14% of its portfolio in Chegg Inc (NYSE:CHGG) for 206,000 shares. Northern Tru Corp holds 0% or 795,400 shares in its portfolio.
Insider Transactions: Since August 2, 2016, the stock had 0 buys, and 3 sales for $912,872 net activity. On Thursday, August 4 GEIGER CHARLES sold $293,571 worth of the stock or 45,000 shares.
More news for Chegg Inc (NYSE:CHGG) were recently published by: Fool.com, which released: “Why Chegg Inc. Stock Plummeted Today” on February 23, 2016. Seekingalpha.com‘s article titled: “Chegg Rise Post Earnings Likely To Continue” and published on November 09, 2016 is yet another important article.
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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