Today’s Stock Alert: Will Chegg Inc Run Out of Steam Soon?

Today's Stock Alert: Will Chegg Inc Run Out of Steam Soon?

The stock of Chegg Inc (NYSE:CHGG) hit a new 52-week high and has $8.87 target or 5.00% above today’s $8.45 share price. The 9 months bullish chart indicates low risk for the $795.04M company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $8.87 price target is reached, the company will be worth $39.75M 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 258,957 shares traded hands. Chegg Inc (NYSE:CHGG) has risen 81.50% since April 21, 2016 and is uptrending. It has outperformed by 76.17% the S&P500.

Analysts await Chegg Inc (NYSE:CHGG) to report earnings on February, 27. They expect $-0.01 EPS, down 114.29% or $0.08 from last year’s $0.07 per share. After $-0.13 actual EPS reported by Chegg Inc for the previous quarter, Wall Street now forecasts -92.31% 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 13 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating given on Tuesday, November 8 by Lake Street. The stock of Chegg Inc (NYSE:CHGG) earned “Market Perform” rating by Raymond James on Tuesday, February 23. The stock of Chegg Inc (NYSE:CHGG) has “Buy” rating given on Thursday, November 19 by Craig Hallum. The stock of Chegg Inc (NYSE:CHGG) earned “Outperform” rating by Barrington Research on Thursday, September 29. The rating was maintained by Lake Street on Tuesday, February 23 with “Buy”. The firm has “Overweight” rating by First Analysis given on Thursday, September 10. Piper Jaffray maintained Chegg Inc (NYSE:CHGG) on Tuesday, February 23 with “Overweight” rating.

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 increased to 1.94 in 2016 Q2. Its up 0.88, from 1.06 in 2016Q1. The ratio increased, 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.
Hood River Cap Mgmt reported 925,092 shares or 0.62% of all its holdings. Ladenburg Thalmann Fincl Inc has invested 0% of its portfolio in Chegg Inc (NYSE:CHGG). Voya Invest Management Ltd Liability holds 36,255 shares or 0% of its portfolio. Parametric Ltd Liability Corporation holds 0% or 54,471 shares in its portfolio. Dimensional Fund Advisors Limited Partnership last reported 0% of its portfolio in the stock. Addison Clark Mgmt Ltd Company holds 217,359 shares or 1.71% of its portfolio. Geode Management Lc last reported 0% of its portfolio in the stock. Moreover, Penbrook Mngmt Ltd has 1.14% invested in Chegg Inc (NYSE:CHGG) for 206,000 shares. Ubs Asset Mngmt Americas last reported 0% of its portfolio in the stock. Tradewinds Mgmt Ltd Liability Corporation holds 0% or 295 shares in its portfolio. Landscape Mngmt Limited Liability last reported 0.08% of its portfolio in the stock. S Squared Lc has 285,762 shares for 1.5% of their US portfolio. Edge Wealth Limited Liability Corporation last reported 31,000 shares in the company. The New York-based Bancorp Of New York Mellon Corporation has invested 0% in Chegg Inc (NYSE:CHGG). The Pennsylvania-based Vanguard Gp has invested 0% in Chegg Inc (NYSE:CHGG).

Insider Transactions: Since August 2, 2016, the stock had 0 insider buys, and 3 sales for $912,872 net activity. On Thursday, August 11 GEIGER CHARLES sold $168,800 worth of the stock or 25,000 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. Prnewswire.com‘s article titled: “Chegg Reports Q3 2016 Earnings” and published on November 07, 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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