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Chegg (CHGG) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Chegg (CHGG - Free Report) closed at $93.08, marking a -0.86% move from the previous day. This move lagged the S&P 500's daily gain of 0.08%. Meanwhile, the Dow gained 0.38%, and the Nasdaq, a tech-heavy index, lost 0.29%.
Prior to today's trading, shares of the provider of online textbook rental services had gained 36.61% over the past month. This has outpaced the Computer and Technology sector's gain of 7.44% and the S&P 500's gain of 3.8% in that time.
CHGG will be looking to display strength as it nears its next earnings release. On that day, CHGG is projected to report earnings of $0.52 per share, which would represent year-over-year growth of 48.57%. Meanwhile, our latest consensus estimate is calling for revenue of $189.68 million, up 51.14% from the prior-year quarter.
CHGG's full-year Zacks Consensus Estimates are calling for earnings of $1.28 per share and revenue of $628.25 million. These results would represent year-over-year changes of +40.66% and +52.89%, respectively.
Investors might also notice recent changes to analyst estimates for CHGG. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. CHGG is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, CHGG currently has a Forward P/E ratio of 73.35. For comparison, its industry has an average Forward P/E of 88.82, which means CHGG is trading at a discount to the group.
Investors should also note that CHGG has a PEG ratio of 2.44 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. CHGG's industry had an average PEG ratio of 6.33 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 179, which puts it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Chegg (CHGG) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Chegg (CHGG - Free Report) closed at $93.08, marking a -0.86% move from the previous day. This move lagged the S&P 500's daily gain of 0.08%. Meanwhile, the Dow gained 0.38%, and the Nasdaq, a tech-heavy index, lost 0.29%.
Prior to today's trading, shares of the provider of online textbook rental services had gained 36.61% over the past month. This has outpaced the Computer and Technology sector's gain of 7.44% and the S&P 500's gain of 3.8% in that time.
CHGG will be looking to display strength as it nears its next earnings release. On that day, CHGG is projected to report earnings of $0.52 per share, which would represent year-over-year growth of 48.57%. Meanwhile, our latest consensus estimate is calling for revenue of $189.68 million, up 51.14% from the prior-year quarter.
CHGG's full-year Zacks Consensus Estimates are calling for earnings of $1.28 per share and revenue of $628.25 million. These results would represent year-over-year changes of +40.66% and +52.89%, respectively.
Investors might also notice recent changes to analyst estimates for CHGG. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. CHGG is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, CHGG currently has a Forward P/E ratio of 73.35. For comparison, its industry has an average Forward P/E of 88.82, which means CHGG is trading at a discount to the group.
Investors should also note that CHGG has a PEG ratio of 2.44 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. CHGG's industry had an average PEG ratio of 6.33 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 179, which puts it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.