Let’s look at some of the highlights which make Chegg stock a good buy : 87% brand recognition amongst U.S. college students. Chegg has indicated a pool of 102 million students as its market opportunity, of which they currently claim 6.6 million as subscribers. Revenue is growing at 57% year-over-year.
Read moreIs Chegg a good stock to buy?
There aren’t any compelling reasons to buy Chegg now Chegg stock got overheated during the rally in growth stocks in early 2021. At its all-time high, shares raded at over 90 times earnings, which was clearly an unsustainable valuation for the company as it moved beyond pandemic lockdowns.
Read moreIs Chegg a profitable company?
Consensus from 18 of the American Consumer Services analysts is that Chegg is on the verge of breakeven . They anticipate the company to incur a final loss in 2020, before generating positive profits of US$26m in 2021. The company is therefore projected to breakeven around 12 months from now or less.
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