Stock of the Day: Could Chegg Inc See a Reversal After This Very Strong Session?

Stock of the Day: Could Chegg Inc See a Reversal After This Very Strong Session?

The stock of Chegg Inc (NYSE:CHGG) is a huge mover today! About 568,407 shares traded hands. Chegg Inc (NYSE:CHGG) has risen 69.91% since April 14, 2016 and is uptrending. It has outperformed by 65.22% the S&P500.
The move comes after 9 months positive chart setup for the $717.78 million company. It was reported on Nov, 16 by Barchart.com. We have $12.66 PT which if reached, will make NYSE:CHGG worth $430.67M more.

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 rating was initiated by Craig Hallum on Thursday, November 19 with “Buy”. 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 “Outperform” rating given on Thursday, September 29 by Barrington Research. Lake Street maintained it with “Buy” rating and $8 target price in Tuesday, February 23 report. The firm has “Buy” rating by Lake Street given on Tuesday, November 8. As per Tuesday, February 23, the company rating was maintained by Piper Jaffray. The firm has “Overweight” rating given on Thursday, September 10 by First Analysis.

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 Q2 2016. Its down 0.02, from 1.08 in 2016Q1. The ratio is negative, 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.
Moreover, Millennium Tvp Mngmt Company has 11.13% invested in Chegg Inc (NYSE:CHGG) for 1.93 million shares. Rhumbline Advisers has invested 0% of its portfolio in Chegg Inc (NYSE:CHGG). Dimensional Fund Limited Partnership has 0% invested in the company for 41,935 shares. Ladenburg Thalmann Finance Svcs Inc accumulated 1,000 shares or 0% of the stock. Jpmorgan Chase & Co has 61,442 shares for 0% of their US portfolio. Moreover, Wedge Capital L L P Nc has 0% invested in Chegg Inc (NYSE:CHGG) for 34,498 shares. Zurcher Kantonalbank (Zurich Cantonalbank), a Switzerland-based fund reported 2,305 shares. Teachers Advsrs holds 0% of its portfolio in Chegg Inc (NYSE:CHGG) for 126,799 shares. Winch Advisory Llc has 0% invested in the company for 750 shares. Renaissance Ltd Liability Corp, a New York-based fund reported 1.10M shares. Insight Hldgs Grp Ltd Liability Com has invested 11.55% of its portfolio in Chegg Inc (NYSE:CHGG). Primecap Mgmt Communication Ca last reported 0.06% of its portfolio in the stock. The United Kingdom-based Blackrock Group Inc Limited has invested 0% in Chegg Inc (NYSE:CHGG). State Street last reported 0% of its portfolio in the stock. American Gp holds 46,347 shares or 0% of its portfolio.

Insider Transactions: Since August 2, 2016, the stock had 0 buys, and 3 insider sales for $912,872 net activity. GEIGER CHARLES had sold 25,000 shares worth $168,800 on Thursday, August 11.

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 Prnewswire.com published the news titled: “Chegg Reports Q3 2016 Earnings” on November 07, 2016. Seekingalpha.com‘s news article titled: “Chegg Rise Post Earnings Likely To Continue” with publication date: November 09, 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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