Chegg (CHGG) : Traders are bullish on Chegg (CHGG) as it has outperformed the S&P 500 by a wide margin of 21.74% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 21.93%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 22.45% in the last 1 week, and is up 24.76% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Chegg (NYSE:CHGG): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $6.49 and $6.44 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $6.62. The buying momentum continued till the end and the stock did not give up its gains. It closed at $6.60, notching a gain of 1.54% for the day. The total traded volume was 1,191,791 . The stock had closed at $6.50 on the previous day.
The stock has recorded a 20-day Moving Average of 18.31% and the 50-Day Moving Average is 27.65%. Chegg, Inc. is up 51.38% in the last 3-month period. Year-to-Date the stock performance stands at -1.93%.
Chegg (CHGG) : The consensus price target for Chegg (CHGG) is $9.17 for the short term with a standard deviation of $2.14. The most optimist securities analyst among the 6 who monitor the stock believes that the stock can reach $12, however, the pessimist price target for the company is $7.
Chegg, Inc. is a student-first connected learning platform. The Company offer textbooks and from digital offerings. Digital offerings primarily include Student Hub, the Companys connected learning platform, its Web-based, multiplatform eTextbook Reader, eTextbooks and supplemental materials from approximately 120 publishers, online tutoring, its Chegg Study service, College Admissions, Scholarship Services, and internship services. The Company sources print textbooks, eTextbooks and supplemental materials publishers in the United States, including Pearson, Cengage Learning, McGraw Hill, Wiley and MacMillan. In addition, the Company also offers enrollment marketing services to colleges. The Company also works with brands, such as Adobe, Dell, Microsoft, PayPal, Proctor & Gamble, Red Bull and Shutterfly, to provide students with discounts, promotions and other products that, based on student feedback.