Chegg Inc. [NYSE: CHGG] closed the trading session at $85.93 on 08/03/20. The day’s price range saw the stock hit a low of $83.225, while the highest price level was $87.97. The company report on August 3, 2020 that Chegg Reports Second Quarter Results and Raises Guidance for 2020.
Expects 2020 Revenue Growth to Exceed 45%.
Chegg, Inc. (NYSE:CHGG), a Smarter Way to Student®, today reported financial results for the three months ended June 30, 2020.
The stocks have a year to date performance of 126.67 percent and weekly performance of 15.65 percent. The stock has been moved at 105.82 percent over the last six months. The stock has performed 22.41 percent around the most recent 30 days and changed 96.23 percent over the most recent 3-months.
If compared to the average trading volume of 4.22M shares, CHGG reached to a volume of 9249342 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say 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 $68.33 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 2.10. 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.
KeyBanc Capital Markets have made an estimate for Chegg Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on July 13, 2020. While these analysts kept the previous recommendation, KeyBanc Capital Markets raised their target price to Overweight. The new note on the price target was released on June 30, 2020, representing the official price target for Chegg Inc. stock. Previously, the target price had yet another raise from $52 to $66, while Citigroup kept a Neutral rating on CHGG stock. On June 05, 2020, analysts increased their price target for CHGG shares from 53 to 70.
The Average True Range (ATR) for Chegg Inc. is set at 3.46, with the Price to Sales ratio for CHGG stock in the period of the last 12 months amounting to 23.13. The Price to Book ratio for the last quarter was 22.73, with the Price to Cash per share for the same quarter was set at 6.38. Price to Free Cash Flow for CHGG in the course of the last twelve months was 93.42 with Quick ratio for the last quarter at 7.90.
CHGG stock trade performance evaluation
Chegg Inc. [CHGG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 15.65. With this latest performance, CHGG shares gained by 22.41% in over the last four-week period, additionally plugging by 105.82% over the last 6 months – not to mention a rise of 91.98% 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 76.07, with the RSI for the last a single of trading hit 80.21, and the three-weeks RSI is set at 72.27 for Chegg Inc. [CHGG]. The present Moving Average for the last 50 days of trading for this stock 67.61, while it was recorded at 78.64 for the last single week of trading, and 46.78 for the last 200 days.
Chegg Inc. [CHGG]: An insightful look at the core fundamentals
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.
Earnings per share (EPS) analysis for Chegg Inc. [CHGG] stock
With the latest financial reports released by the company, Chegg Inc. posted 0.18/share EPS, while the average EPS was predicted by analysts to be reported at 0.08/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 125.00%. 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%.
Chegg Inc. [CHGG]: Insider Ownership positions
There are presently around $12,488 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 3.10% of the total institutional ownership; FRED ALGER MANAGEMENT, LLC, holding 12,308,042 shares of the stock with an approximate value of $1.06 billion in CHGG stocks shares; and COPPER ROCK CAPITAL PARTNERS, LLC, currently with $921.31 million in CHGG stock with ownership of nearly New of the company’s market capitalization.
Positions in Chegg Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 181 institutional holders increased their position in Chegg Inc. [NYSE:CHGG] by around 34,697,174 shares. Additionally, 163 investors decreased positions by around 16,726,052 shares, while 29 investors held positions by with 93,898,868 shares. The mentioned changes placed institutional holdings at 145,322,094 shares, according to the latest SEC report filing. CHGG stock had 89 new institutional investments in for a total of 12,942,502 shares, while 52 institutional investors sold positions of 4,878,794 shares during the same period.