Chegg Inc. [CHGG] Is Currently -3.57 below its 200 Period Moving Avg: What Does This Mean?

Chegg Inc. [NYSE: CHGG] loss -3.57% or -0.64 points to close at $17.30 with a heavy trading volume of 3677755 shares. The company report on April 17, 2023 that Chegg announces CheggMate, the new AI companion, built with GPT-4.

Building upon Chegg’s billions of pieces of learning content and over 150,000 subject matter experts, CheggMate will help students learn more effectively and with improved outcomes.

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Chegg, Inc. (NYSE: CHGG), the leading student-first connected learning platform, today announced CheggMate, a new AI enhanced learning service built with OpenAI’s most advanced model, GPT-4. CheggMate will leverage Chegg’s leading personalized learning platform, proprietary data set, and the advanced problem-solving capabilities of GPT-4, to create an AI conversational learning companion that will empower students to learn in real-time more effectively, and with greater accuracy than ever before.

It opened the trading session at $17.94, the shares rose to $17.95 and dropped to $17.28, the range by which the price of stock traded the whole day. The daily chart for CHGG points out that the company has recorded -13.59% loss over the past six months. However, it is still -13.44% lower than its most recent low trading price.

If we look at the average trading volume of 3.17M shares, CHGG reached to a volume of 3677755 in the most recent trading day, which is why market watchdogs consider the stock to be active.

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 $20.38 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 2.80. 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 February 07, 2023. The new note on the price target was released on January 19, 2023, representing the official price target for Chegg Inc. stock.

The Average True Range (ATR) for Chegg Inc. is set at 0.59, with the Price to Sales ratio for CHGG stock in the period of the last 12 months amounting to 2.81. The Price to Book ratio for the last quarter was 1.95, with the Price to Cash per share for the same quarter was set at 8.49. Price to Free Cash Flow for CHGG in the course of the last twelve months was 8.55 with Quick ratio for the last quarter at 8.20.

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 1.59. With this latest performance, CHGG shares gained by 6.27% in over the last four-week period, additionally sinking by -13.59% over the last 6 months – not to mention a drop of -46.54% 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 55.14, with the RSI for the last a single of trading hit 56.61, and the three-weeks RSI is set at 51.39 for Chegg Inc. [CHGG]. The present Moving Average for the last 50 days of trading for this stock 16.52, while it was recorded at 17.66 for the last single week of trading, and 21.37 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 +1.92 and a Gross Margin at +74.26. Chegg Inc.’s Net Margin is presently recorded at +34.77.

Return on Total Capital for CHGG is now 0.58, given the latest momentum, and Return on Invested Capital for the company is 10.42. Return on Equity for this stock inclined to 23.98, with Return on Assets sitting at 9.90. When it comes to the capital structure of this company, Chegg Inc. [CHGG] has a Total Debt to Total Equity ratio set at 108.32. Additionally, CHGG Total Debt to Total Capital is recorded at 52.00, with Total Debt to Total Assets ending up at 49.06. Long-Term Debt to Equity for the company is recorded at 107.65, with the Long-Term Debt to Total Capital now at 51.67.

Reflecting on the efficiency of the workforce at the company, Chegg Inc. [CHGG] managed to generate an average of $128,748 per employee. Receivables Turnover for the company is 37.08 with a Total Asset Turnover recorded at a value of 0.28.Chegg Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 8.20 and a Current Ratio set at 8.20.

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

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 20.00%.

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

There are presently around $2,075 million, or 97.50% of CHGG stock, in the hands of institutional investors. The top three institutional holders of CHGG stocks are: BAILLIE GIFFORD & CO with ownership of 17,929,525, which is approximately -1.532% of the company’s market cap and around 2.10% of the total institutional ownership; VANGUARD GROUP INC, holding 12,348,415 shares of the stock with an approximate value of $221.53 million in CHGG stocks shares; and BLACKROCK INC., currently with $160.97 million in CHGG stock with ownership of nearly 2.664% of the company’s market capitalization.

Positions in Chegg Inc. stocks held by institutional investors increased at the end of Monday and at the time of the Monday reporting period, where 172 institutional holders increased their position in Chegg Inc. [NYSE:CHGG] by around 10,323,438 shares. Additionally, 140 investors decreased positions by around 13,782,783 shares, while 33 investors held positions by with 91,552,506 shares. The mentioned changes placed institutional holdings at 115,658,727 shares, according to the latest SEC report filing. CHGG stock had 74 new institutional investments in for a total of 5,102,588 shares, while 41 institutional investors sold positions of 2,338,436 shares during the same period.


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