Chegg Inc. [CHGG] moved down -7.83: Why It’s Important

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Chegg Inc. [NYSE: CHGG] traded at a low on 04/20/22, posting a -7.83 loss after which it closed the day’ session at $29.66. The company report on April 14, 2022 that Chegg to Announce First Quarter 2022 Financial Results.

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Today, Chegg, Inc. (NYSE: CHGG), the leading student-first connected learning platform, announced that it is scheduled to release its earnings results for the first quarter of 2022 which ended March 31, 2022 on Monday, May 2, 2022 after the market close. Chegg will host a conference call to discuss the first quarter financial results at 1:30 p.m. Pacific Daylight Time (4:30 p.m. Eastern Daylight Time) on the same day.

To access the call, please dial 1-877-407-4018, or outside the U.S. +1-201-689-8471. A live webcast of the call will also be available at https://investor.chegg.com under the Events & Presentations menu.

The results of the trading session contributed to over 3042409 shares changing hands. Over the past one week, the price volatility of Chegg Inc. stands at 4.39% while the volatility over the past one month is 3.82%.

The market cap for CHGG stock reached $4.02 billion, with 142.72 million shares outstanding and 122.47 million shares in the current float. Compared to the average trading volume of 3.23M shares, CHGG reached a trading volume of 3042409 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $45.08 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 2.40. 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 Sector Weight, with their previous recommendation back on April 12, 2022. While these analysts kept the previous recommendation, Piper Sandler dropped their target price from $54 to $43. The new note on the price target was released on January 13, 2022, representing the official price target for Chegg Inc. stock. Previously, the target price had yet another raise to $54, while Northland Capital analysts kept a Market Perform rating on CHGG stock.

The Average True Range (ATR) for Chegg Inc. is set at 1.37, with the Price to Sales ratio for CHGG stock in the period of the last 12 months amounting to 5.17. The Price to Book ratio for the last quarter was 3.82, with the Price to Cash per share for the same quarter was set at 11.41. Price to Free Cash Flow for CHGG in the course of the last twelve months was 15.31 with Quick ratio for the last quarter at 14.20.

How has CHGG stock performed recently?

Chegg Inc. [CHGG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.23. With this latest performance, CHGG shares dropped by -11.78% in over the last four-week period, additionally sinking by -52.77% over the last 6 months – not to mention a drop of -67.98% 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 31.96, with the RSI for the last a single of trading hit 23.20, and the three-weeks RSI is set at 38.40 for Chegg Inc. [CHGG]. The present Moving Average for the last 50 days of trading for this stock 32.42, while it was recorded at 31.64 for the last single week of trading, and 49.29 for the last 200 days.

Chegg Inc. [CHGG]: Deeper insight into the fundamentals

Chegg Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 14.20 and a Current Ratio set at 14.20.

Earnings analysis for Chegg Inc. [CHGG]

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 30.00%.

Insider trade positions for Chegg Inc. [CHGG]

There are presently around $4,210 million, in the hands of institutional investors. The top three institutional holders of CHGG stocks are: BAILLIE GIFFORD & CO with ownership of 19,009,007, which is approximately 2.744% of the company’s market cap and around 2.40% of the total institutional ownership; VANGUARD GROUP INC, holding 12,370,191 shares of the stock with an approximate value of $398.07 million in CHGG stocks shares; and BLACKROCK INC., currently with $209.87 million in CHGG stock with ownership of nearly -41.093% of the company’s market capitalization.

198 institutional holders increased their position in Chegg Inc. [NYSE:CHGG] by around 37,295,438 shares. Additionally, 250 investors decreased positions by around 48,638,598 shares, while 33 investors held positions by with 44,881,450 shares. The mentioned changes placed institutional holdings at 130,815,486 shares, according to the latest SEC report filing. CHGG stock had 79 new institutional investments in for a total of 15,782,500 shares, while 146 institutional investors sold positions of 17,296,804 shares during the same period.