Over the past 52 weeks Chegg, Inc. (NYSE:CHGG) has embarked on a rally that has seen it rise 90.7% and is now up by 45.07% since start of this year. The equity price rose 4.94% this week, a trend that has led to both investors and traders taking note of the stock. A look at its monthly performance shows that the stock has recorded a 10.06% gain over the past 30 days. Its equity price climbed by 42.17% over the past three months which led to its overall six-month increase to stand at 29.57%.
The shares of Chegg, Inc. (CHGG) advanced by 0.71% or -$-0.29 from its last recorded high of $40.94 which it attained on March 14 to close at $41.23 per share. Over the past 52 weeks, the shares of Chegg, Inc. has been trading as low as $19.5 before witnessing a massive surge by 111.44% or $21.73. This price movement has led to the CHGG stock receiving more attention and has become one to watch out for. It jumped by 1.3% on Thursday and this got the market excited. The stock’s beta now stands at 1.31 and when compared to its 200-day moving average and its 50-day moving average, CHGG price stands 36.77% above and 15.82% above respectively. Its average daily volatility for this week is 2.33% which is less than the 2.43% recorded over the past month.
Experts from research firms are bullish about the near-term performance of Chegg, Inc. with most of them predicting a $40.8 price target on a short-term (12 months) basis. The average price target by the analysts will see a -1.04% rise in the stock and would lead to CHGG’s market cap to surge to $4.71B. The stock has been rated an average 2.3, which roughly stands towards the bearish end of the spectrum. Reuters looked into the 12 analysts that track Chegg, Inc. (NYSE:CHGG) and find out that 6 of them rated it as a Hold. 6 of the 6 analysts rated it as a Buy or a Strong Buy while 0 advised investors to desist from buying the stock or sell it if they already possess it.
A look at CHGG technical analysis shows that its 14-day Relative Strength Index (RSI) is in a overbought zone after reaching 74.54 point. Its trading volume has lost -12712 shares compared to readings over the past three months as it recently exchanged 1497288 shares. This means there is reduced activity from short-term traders as per session, its average trading volume is 1510000 shares, and this is 0.99 times the normal volume.
The price of Textron Inc. (NYSE:TXT) currently stands at $51.78 after it went down by $-0.58 or -1.11% and has found a strong support at $51.32 a share. If the TXT price drops below that critical support, then it would lead to a bearish trend. In the short-term, a dip below the $50.86 mark would also be bad for the stock as it means that the stock would plunge by 1.78% from its current position. However, if the stock price is able to trade above the resistance point around $52.37, then it could likely surge higher to try and break the upward resistance which stands at $52.96 a share. Its average daily volatility over the past one month stands at 1.54%. The stock has plunged by 0.64% from its 52-weeks high of $51.45 which it reached on Sep. 25, 2018. In general, it is 16.43% above its 52-weeks lowest point which stands at $43.27 and this setback was observed on Dec. 26, 2018.
Analysts have predicted a price target for Textron Inc. (TXT) for 1 year and it stands at an average $63.69/share. This means that it would likely increase by 23% from its current position. The current price of the stock has been moving between $51.45 and $52.5. Some brokerage firms have a lower target for the stock than the average, with one of them setting a price target as low as $53. On the other hand, one analyst is super bullish about the price, setting a target as high as $78.
Analysts view Textron Inc. (NYSE:TXT) as a Buy, with 2 consensus rating. Reuters surveyed 13 analysts that follow TXT and found that 4 of those analysts rated the stock as a Hold. The remaining 9 were divided, with 9 analyst rating it as a Buy or a Strong Buy while 0 analysts advised investors to desist from buying Textron Inc. (TXT) shares or sell it if they already own it.