Is Chegg Stock Still a Strong Choice for Growth?

Advertisement

Growth stocks can be some of the most exciting picks in the market, as these high-flyers can captivate investors’ attention, and produce big gains as well. However, they can also lead on the downside when the growth story is over, so it is important to find companies that are still seeing strong growth prospects in their businesses. One such company that might be well-positioned for future earnings growth is Chegg (NYSE:CHGG). CHGG stock, which is in the Internet – Software industry, saw earnings-per-share growth of 96.4% last year, and it is looking great for this year too.

In fact, the current growth estimate for this year calls for EPS growth of 23.9%. Furthermore, the long-term growth rate for Chegg stock is currently an impressive 30%, suggesting pretty good prospects for the long haul.

CHGG Stock Price and Consensus

And if this wasn’t enough, CHGG stock has actually seen estimates rise over the past month for the current fiscal year by about 7.9%. Thanks to this rise in earnings estimates, CHGG has a Zacks Rank No. 2 (Buy), which further underscores the potential for outperformance in this company. You can see the complete list of today’s Zacks No. 1 Rank (Strong Buy) stocks here.

So if you are looking for a fast growing stock that is still seeing plenty of opportunities on the horizon, make sure to consider CHGG. Not only does it have double-digit earnings growth prospects, but its impressive Zacks Rank suggests that analysts believe better days are ahead for Chegg stock as well.

Breakout Biotech Stocks with Triple-Digit Profit Potential

The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.

Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +98%, +119% and +164% in as little as 1 month. The stocks in this report could perform even better.

See these 7 breakthrough stocks now>>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Chegg, Inc. (CHGG): Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research


Article printed from InvestorPlace Media, https://investorplace.com/2019/02/chegg-chgg-stock-growth/.

©2024 InvestorPlace Media, LLC