Is It Right Time to Be Bullish on Best Buy Co., Inc. (BBY), Chegg, Inc. (CHGG)?

    The shares of Best Buy Co., Inc. (NYSE:BBY) has been pegged with a rating of Market Perform by Telsey Advisory Group in its latest research note that was published on August 30th, 2019. The research company has also assigned a $70 price target. Telsey Advisory Group wasn’t the only research firm that published a report of Best Buy Co., Inc., with other equities research analysts also giving their opinion on the stock. Telsey Advisory Group advised investors in its research note published on July 25th, 2019, to Market Perform the BBY stock. The stock had earned Neutral rating from Goldman when it published its report on July 11th, 2019. That day the Goldman set price target on the stock to $73. The stock was given Buy rating by Guggenheim in its report released on July 8th, 2019, the day when the price target on the stock was placed at $80. Cleveland Research was of a view that BBY is Neutral in its latest report on June 18th, 2019. Jefferies thinks that BBY is worth Buy rating. This was contained in the firm’s report on April 24th, 2019 in which the stock’s price target was also moved to $88.

    The consensus currently stands at a Hold while its average price target is $75.95. The price of the stock the last time has raised by 33.97% from its Week high price while it is raised higher than its 52-Week low price. A look at the stock’s other technical shows that its 14-day RSI now stands at 40.89.

    The shares of the company added by 1.14% during the trading session on Thursday, reaching a low of $63.51 while ending the day at $63.93. During the trading session, a total of 2.73 million shares were traded which represents a 0.25% incline from the average session volume which is 2.74M shares. BBY had ended its last session trading at 63.21. Best Buy Co., Inc. currently has a market cap of $17.03B, while its P/E ratio stands at 11.43, while its P/E earnings growth sits at 0.40, with a beta of 1.14. Best Buy Co., Inc. debt-to-equity ratio currently stands at 0.36, while its quick ratio hovers at 0.40. BBY 52-week low price stands at $47.72 while its 52-week high price is $81.66.

    Investment analysts at William Blair published a research note on August 12th, 2019 where it informed investors and clients that Chegg, Inc. (NYSE:CHGG) is now rated as Outperform. Telsey Advisory Group also rated CHGG as Reiterated on July 25th, 2019, with its price target of $35 suggesting that CHGG could surge by 22.21% from its current share price. Even though the stock has been trading at $38.20/share, analysts expect it to surge higher by -1.52% to reach $48.36/share. It started the day trading at $39.14 and traded between $37.44 and $37.62 throughout the trading session.

    A look at its technical shows that CHGG’s 50-day SMA is 41.77 while its 200-day SMA stands at 36.80. At the moment, only of Chegg, Inc. shares were sold short. The company’s average trading volume currently stands at 1.52M shares, which means that the short-interest ratio is just 12.74 days. Over the past seven days, the company moved, with its shift of -5.74%. Looking further, the stock has raised 0.11% over the past 90 days while it lost -5.00% over the last six months.

    The change in the stock’s fortunes has led to several institutional investors altering their holdings of the stock. Baillie Gifford Co bought more CHGG shares, increasing its portfolio by +7.20% during the last quarter. This move now sees Baillie Gifford Co purchasing 837,801 shares in the last quarter, thus it now holds 12,474,426 shares of CHGG, with a total valuation of $560,351,216. The Vanguard Group Inc meanwhile sold more CHGG shares in the recently filed quarter, changing its stake to $495,420,973 worth of shares. BlackRock Fund Advisors followed the path by increasing its CHGG portfolio by +2.52% in the quarter. This means that BlackRock Fund Advisors bought 168,283 shares in the last quarter and now controls 6,842,105 shares of the CHGG stock, with the valuation hitting $307,347,357.

    Similarly, Fred Alger Management Inc increased its Chegg, Inc. shares by +47.69% during the recently filed quarter. After buying 1,709,364 shares in the last quarter, the firm now controls 5,293,939 shares of Chegg, Inc. which are valued at $237,803,740. In the same vein, Gilder Gagnon Howe Co LLC decreased its Chegg, Inc. shares by during the most recent reported quarter. The firm sold -308,397 shares during the quarter which decreased its stakes to 4,616,555 shares and is now valued at $207,375,651. Following these latest developments, around 4.00% of Chegg, Inc. stocks are owned by institutional investors and hedge funds.