Chegg Inc. [NYSE: CHGG] price plunged by -7.16 percent to reach at -$1.27. The company report on May 2, 2022 that Chegg Reports Q1 2022 Financial Results.
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.
A sum of 4105203 shares traded at recent session while its average daily volume was at 3.80M shares. Chegg Inc. shares reached a high of $18.15 and dropped to a low of $16.26 until finishing in the latest session at $16.46.
The one-year CHGG stock forecast points to a potential upside of 48.93. The average equity rating for CHGG stock is currently 2.40, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on 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 $32.23 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 2.01, with the Price to Sales ratio for CHGG stock in the period of the last 12 months amounting to 2.78. The Price to Book ratio for the last quarter was 2.69, with the Price to Cash per share for the same quarter was set at 8.98. Price to Free Cash Flow for CHGG in the course of the last twelve months was 8.04 with Quick ratio for the last quarter at 8.00.
CHGG Stock Performance Analysis:
Chegg Inc. [CHGG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -19.27. With this latest performance, CHGG shares dropped by -53.36% in over the last four-week period, additionally sinking by -45.22% over the last 6 months – not to mention a drop of -79.34% 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 23.01, with the RSI for the last a single of trading hit 21.00, and the three-weeks RSI is set at 25.97 for Chegg Inc. [CHGG]. The present Moving Average for the last 50 days of trading for this stock 30.01, while it was recorded at 17.97 for the last single week of trading, and 44.62 for the last 200 days.
Insight into Chegg Inc. 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 8.00 and a Current Ratio set at 8.00.
CHGG Stock EPS
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%.
Chegg Inc. [CHGG] Insider Position Details
There are presently around $2,323 million, in the hands of institutional investors. The top three institutional holders of CHGG stocks are: BAILLIE GIFFORD & CO with ownership of 18,657,337, which is approximately -1.85% 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 $219.32 million in CHGG stocks shares; and BLACKROCK INC., currently with $115.63 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 193 institutional holders increased their position in Chegg Inc. [NYSE:CHGG] by around 35,199,410 shares. Additionally, 210 investors decreased positions by around 37,464,300 shares, while 39 investors held positions by with 58,368,746 shares. The mentioned changes placed institutional holdings at 131,032,456 shares, according to the latest SEC report filing. CHGG stock had 75 new institutional investments in for a total of 14,333,132 shares, while 101 institutional investors sold positions of 8,488,089 shares during the same period.