Chegg Inc. [CHGG] moved down -30.26: Why It’s Important


Chegg Inc. [NYSE: CHGG] traded at a low on 05/03/22, posting a -30.26 loss after which it closed the day’ session at $17.42. The company report on May 2, 2022 that Chegg Reports Q1 2022 Financial Results.

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Chegg Services Revenues increased 14% Year-over-Year.

Chegg, Inc. (NYSE:CHGG), the leading student-first connected learning platform, today reported financial results for the three months ended March 31, 2022.

The results of the trading session contributed to over 50753299 shares changing hands. Over the past one week, the price volatility of Chegg Inc. stands at 8.29% while the volatility over the past one month is 5.75%.

The market cap for CHGG stock reached $2.29 billion, with 142.72 million shares outstanding and 124.04 million shares in the current float. Compared to the average trading volume of 3.01M shares, CHGG reached a trading volume of 50753299 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 $45.23 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.

William Blair have made an estimate for Chegg Inc. shares, keeping their opinion on the stock as Mkt Perform, with their previous recommendation back on May 03, 2022. While these analysts kept the previous recommendation, Piper Sandler dropped their target price from $44 to $21. The new note on the price target was released on May 03, 2022, representing the official price target for Chegg Inc. stock. On January 13, 2022, analysts decreased their price target for CHGG shares from 54 to 43.

The Average True Range (ATR) for Chegg Inc. is set at 2.04, with the Price to Sales ratio for CHGG stock in the period of the last 12 months amounting to 2.95. The Price to Book ratio for the last quarter was 2.24, with the Price to Cash per share for the same quarter was set at 11.75. Price to Free Cash Flow for CHGG in the course of the last twelve months was 8.74 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 -32.74. With this latest performance, CHGG shares dropped by -52.30% in over the last four-week period, additionally sinking by -72.24% over the last 6 months – not to mention a drop of -79.06% 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 15.06, with the RSI for the last a single of trading hit 10.06, and the three-weeks RSI is set at 20.58 for Chegg Inc. [CHGG]. The present Moving Average for the last 50 days of trading for this stock 31.44, while it was recorded at 23.62 for the last single week of trading, and 46.66 for the last 200 days.

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

Operating Margin for any stock indicates how profitable investing would be, and Chegg Inc. [CHGG] shares currently have an operating margin of +10.50 and a Gross Margin at +67.16. Chegg Inc.’s Net Margin is presently recorded at -0.19.

Return on Equity for this stock declined to -0.17, with Return on Assets sitting at -0.06.

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 $3,262 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 2.50% of the total institutional ownership; VANGUARD GROUP INC, holding 12,370,191 shares of the stock with an approximate value of $309.01 million in CHGG stocks shares; and BLACKROCK INC., currently with $162.91 million in CHGG stock with ownership of nearly -41.093% 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 203 institutional holders increased their position in Chegg Inc. [NYSE:CHGG] by around 36,401,284 shares. Additionally, 232 investors decreased positions by around 46,366,983 shares, while 32 investors held positions by with 47,799,077 shares. The mentioned changes placed institutional holdings at 130,567,344 shares, according to the latest SEC report filing. CHGG stock had 83 new institutional investments in for a total of 14,907,148 shares, while 125 institutional investors sold positions of 15,306,339 shares during the same period.