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Weakness Seen in Chegg (CHGG): Stock Falls 6.9%
June 13, 2014

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Chegg, Inc. (CHGG - Free Report) saw a big move in the last trading session, as the company’s shares fell by nearly 7% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This reverses the recent uptrend for CHGG, as the stock is up over 17% in the past one-month time frame.

The company, a provider of a social education platform, has not seen any estimate revision over the past month, though the current year earnings consensus has moved higher over the last few weeks. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, especially on earnings estimates following the recent slump.

CHGG currently holds a Zacks Rank #4 (Sell) while its Earnings ESP is positive.

Investors interested in the Internet Software industry may consider better-ranked stocks like, Inc. , TeleCommunication Systems Inc. and Rally Software Development Corp. , each of which holds a Zacks Rank #1 (Strong Buy).

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