Saturday, April 10, 2021

For Chegg Inc. [CHGG], Needham sees a rise to $70. What next?

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Chegg Inc. [NYSE: CHGG] gained 5.76% or 3.48 points to close at $63.87 with a heavy trading volume of 5292805 shares. It opened the trading session at $62.15, the shares rose to $64.78 and dropped to $61.62, the range by which the price of stock traded the whole day. The daily chart for CHGG points out that the company has recorded 66.54% gains over the past six months. However, it is still -146.7% lower than its most recent low trading price.

If we look at the average trading volume of 3.51M shares, CHGG reached to a volume of 5292805 in the most recent trading day, which is why market watchdogs consider the stock to be active.


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Here is what top equities market gurus are saying about Chegg Inc. [CHGG]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CHGG shares is $60.27 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CHGG stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Needham have made an estimate for Chegg Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 05, 2020. While these analysts kept the previous recommendation, BMO Capital Markets raised their target price from $54 to $67. The new note on the price target was released on May 18, 2020, representing the official price target for Chegg Inc. stock. Previously, the target price had yet another raise to $60, while Raymond James analysts kept a Outperform rating on CHGG stock.

The Average True Range (ATR) for Chegg Inc. is set at 3.48, with the Price to Sales ratio for CHGG stock in the period of the last 12 months amounting to 17.72. The Price to Book ratio for the last quarter was 16.90, with the Price to Cash per share for the same quarter was set at 6.19. Price to Free Cash Flow for CHGG in the course of the last twelve months was 71.56 with Quick ratio for the last quarter at 7.90.

Trading performance analysis for CHGG stock

Chegg Inc. [CHGG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 8.55. With this latest performance, CHGG shares gained by 2.68% in over the last four-week period, additionally plugging by 66.54% over the last 6 months – not to mention a rise of 61.25% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CHGG stock in for the last two-week period is set at 65.22, with the RSI for the last a single of trading hit 66.65, and the three-weeks RSI is set at 62.89 for Chegg Inc. [CHGG]. The present Moving Average for the last 50 days of trading for this stock 52.66, while it was recorded at 59.47 for the last single week of trading, and 40.53 for the last 200 days.

Chegg Inc. [CHGG]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Chegg Inc. [CHGG] shares currently have an operating margin of +4.60 and a Gross Margin at +77.57. Chegg Inc.’s Net Margin is presently recorded at -2.34.

Return on Total Capital for CHGG is now 1.79, given the latest momentum, and Return on Invested Capital for the company is -0.91. Return on Equity for this stock declined to -2.11, with Return on Assets sitting at -0.85. When it comes to the capital structure of this company, Chegg Inc. [CHGG] has a Total Debt to Total Equity ratio set at 184.45. Additionally, CHGG Total Debt to Total Capital is recorded at 64.84, with Total Debt to Total Assets ending up at 61.79. Long-Term Debt to Equity for the company is recorded at 183.39, with the Long-Term Debt to Total Capital now at 64.47.

Reflecting on the efficiency of the workforce at the company, Chegg Inc. [CHGG] managed to generate an average of -$6,856 per employee. Receivables Turnover for the company is 23.75 with a Total Asset Turnover recorded at a value of 0.37.Chegg Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 7.90 and a Current Ratio set at 7.90.

Chegg Inc. [CHGG]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Chegg Inc. posted 0.23/share EPS, while the average EPS was predicted by analysts to be reported at 0.1/share.When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 130.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CHGG. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Chegg Inc. go to 25.00%.

An analysis of insider ownership at Chegg Inc. [CHGG]

There are presently around $8,220 million, in the hands of institutional investors. The top three institutional holders of CHGG stocks are: BAILLIE GIFFORD & CO with ownership of 14,421,580, which is approximately -0.503% of the company’s market cap and around 3.40% of the total institutional ownership; FRED ALGER MANAGEMENT, LLC, holding 12,308,042 shares of the stock with an approximate value of $743.28 million in CHGG stocks shares; and VANGUARD GROUP INC, currently with $644.62 million in CHGG stock with ownership of nearly 1.798% of the company’s market capitalization.

Positions in Chegg Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 153 institutional holders increased their position in Chegg Inc. [NYSE:CHGG] by around 24,450,752 shares. Additionally, 157 investors decreased positions by around 15,588,518 shares, while 27 investors held positions by with 96,076,747 shares. The mentioned changes placed institutional holdings at 136,116,017 shares, according to the latest SEC report filing. CHGG stock had 60 new institutional investments in for a total of 2,321,614 shares, while 55 institutional investors sold positions of 4,767,646 shares during the same period.

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