Chegg (NYSE:CHGG) Downgraded by Citigroup Inc to Neutral

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Chegg stock has undergone multiple analysts rating changes in the recent past.  Chegg Downgraded by Citigroup Inc on 6/30/2020. In a note to investors, the firm issued a new rating of Neutral. The analysts previously had rating of Buy.

Shares of Chegg traded up $1.02 on Tuesday, reaching $67.75. 884575 shares of the stock traded hands, compared to its average volume of 3892281. Shares of Chegg at mid-way on Tuesday were at $67.75. The firm’s 50 day moving average is $57.85 and its 200 day moving average is $41.94.Chegg  has a 12 month low of $66.20 and a 12 month high of $70.57. While on yearly highs and lows, Chegg’s today has traded high as $68.19 and has touched $66.20 on the downward trend. See More Analyst Rating at: RATING

Chegg Earnings and What to expect: 

Chegg last released its quarterly earnings results on May 4th, 2020. The technology company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.20. The business had revenue of $131.60 million for the quarter, compared to the consensus estimate of $119.48 million. Its revenue was up 35.1% compared to the same quarter last year. Chegg has generated $0.41 earnings per share over the last year. Chegg has not formally confirmed its next earnings publication date, but the company’s estimated earnings date is Monday, August 3rd, 2020 based off prior year’s report dates.

Earnings for Chegg are expected to grow by 41.27% in the coming year, from $0.63 to $0.89 per share. The P/E ratio of Chegg is -614.36, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings. The P/E ratio of Chegg is -614.36, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings. Chegg has a PEG Ratio of 3.48. PEG Ratios above 1 indicate that a company could be overvalued. Chegg has a P/B Ratio of 16.40. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

Latest Insiders Trading and Volume : 

  • Insider Ownership Percentage: 3.10%
  • On 6/22/2020 Insider Nathan J Schultz Sell 35,083 at average share price of $70.19 which equates to $2,462,475.77 in money value.
  • On 6/3/2020 CMO Esther Lem Sell 2,263 at average price of  $61.36 with total value of : Not Data Available
  • On 6/3/2020 Insider John Paul Fillmore Sell 1,321 at average price of  $62.30 with total value of : $82,298.30

Analyst at Citigroup Inc are also talking about :

  • 6/29/2020 – Chegg is now covered by analysts at KeyCorp. They set an “overweight” rating and a $80.00 price target on the stock.
  • 6/23/2020 – Chegg had its price target raised by analysts at Northland Securities from $70.00 to $75.00. They now have a “buy” rating on the stock.
  • 6/22/2020 – Chegg had its price target raised by analysts at Jefferies Financial Group Inc from $55.00 to $80.00. They now have a “buy” rating on the stock.
  • 6/17/2020 – Chegg is now covered by analysts at Northland Securities. They set a “buy” rating and a $70.00 price target on the stock.

Chegg (NYSE:CHGG) Moving Average Technical Analysis

5 day Moving Average is $65.67 And 5 day price change is $0.37 (0.55%)  with average volume for 5 day average is 5,490,665. While technical analysis for average 20 days shows significant difference, 20 day moving average is  $62.25 and 20 day price change is $4.53 (7.24%) and average 20 day moving volume is 4,072,031. 50 day moving average is $57.85  and 50 day price change is $30.67 ( 84.21%)  and with average volume for 50 days is : 4,461,597. 200 day moving average is $41.94  and 200 day price change is $32.61 (94.58%)  and with average volume for 200 days is : 2,376,904.

See More Analyst Rating at: RATING