Why Chegg (CHGG) Could Be Positioned for a Surge
Chegg, Inc. CHGG is a leading direct-to-student learning platform that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on CHGG’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Chegg could be a solid choice for investors.
Current Quarter Estimates for CHGG
In the past 30 days, six estimates have gone higher for Chegg while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 30 cents a share 30 days ago, to 34 cents today, a move of 13.3%.
Current Year Estimates for CHGG
Meanwhile, Chegg’s current year figures are also looking quite promising, with seven estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from $1.05 per share 30 days ago to $1.21 per share today, an increase of 15.2%.
Chegg, Inc. Price and Consensus
Chegg, Inc. price-consensus-chart | Chegg, Inc. Quote
Bottom Line
The stock has also started to move higher lately, adding 85.8% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank stocks here.
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Chegg, Inc. (CHGG) : Free Stock Analysis Report
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