Shares of Chegg Inc. (NYSE:CHGG) traded today at $105.12, eclipsing its 52-week high. Approximately 587,000 shares have changed hands today, as compared to an average 30-day volume of 1.6 million shares.
Chegg Inc. (NYSE:CHGG) defies analysts with a current price ($102.22) 52.7% above its average consensus price target of $48.38.
Chegg Inc is an American educational services company that specializes in textbook rentals, course assistance, and online tutoring. The company focuses on high school and college level students who are able to rent textbooks for various courses and return them to the company after completion. Rentals are typically transacted at a low cost relative to the purchase of textbooks at full price. The company offers over 25,000 textbook titles for students to rent and historically has had over 1 million students use its services. Chegg also provides course and professor reviews, standardized test preparation, career preparation, and study materials on its website. Textbook rentals provide the majority of the company’s revenue followed by online educational services.
In the past 52 weeks, shares of Chegg Inc. have traded between a low of $25.89 and a high of $105.12 and is now at $102.22, which is 295% above that low price.
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