Brokerages Set Chewy, Inc. (NYSE:CHWY) PT at $97.68

Chewy, Inc. (NYSE:CHWY) has been assigned a consensus recommendation of “Buy” from the twenty-two brokerages that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $97.68.

Several research firms have recently issued reports on CHWY. Credit Suisse Group began coverage on shares of Chewy in a research report on Monday, September 27th. They issued an “outperform” rating and a $121.00 price objective for the company. Wedbush lowered their price target on shares of Chewy from $100.00 to $90.00 and set an “outperform” rating for the company in a report on Thursday, September 2nd. Wells Fargo & Company lowered their price target on shares of Chewy from $120.00 to $110.00 and set an “overweight” rating for the company in a report on Thursday, September 2nd. Piper Sandler lowered their price target on shares of Chewy from $110.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, September 2nd. Finally, Exane BNP Paribas assumed coverage on Chewy in a research note on Friday, July 16th. They set an “outperform” rating and a $101.00 price objective on the stock.

In other news, General Counsel Susan Helfrick sold 10,463 shares of the firm’s stock in a transaction on Wednesday, August 4th. The stock was sold at an average price of $90.00, for a total transaction of $941,670.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Mario Jesus Marte sold 20,927 shares of the firm’s stock in a transaction on Thursday, August 12th. The stock was sold at an average price of $95.00, for a total value of $1,988,065.00. The disclosure for this sale can be found here. Insiders have sold a total of 41,853 shares of company stock worth $3,819,090 over the last quarter. Insiders own 0.67% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CHWY. Ameriprise Financial Inc. boosted its position in Chewy by 343.0% during the first quarter. Ameriprise Financial Inc. now owns 2,497,437 shares of the company’s stock valued at $211,559,000 after purchasing an additional 1,933,663 shares during the last quarter. Marshall Wace LLP grew its stake in shares of Chewy by 606.6% in the 2nd quarter. Marshall Wace LLP now owns 584,382 shares of the company’s stock valued at $46,581,000 after buying an additional 501,682 shares in the last quarter. Royal Bank of Canada grew its stake in shares of Chewy by 143.6% in the 2nd quarter. Royal Bank of Canada now owns 661,110 shares of the company’s stock valued at $52,696,000 after buying an additional 389,688 shares in the last quarter. Baillie Gifford & Co. boosted its position in Chewy by 4.4% during the second quarter. Baillie Gifford & Co. now owns 7,878,624 shares of the company’s stock worth $628,005,000 after purchasing an additional 329,632 shares during the period. Finally, State Street Corp boosted its position in Chewy by 30.4% during the second quarter. State Street Corp now owns 1,150,923 shares of the company’s stock worth $91,740,000 after purchasing an additional 268,012 shares during the period. Institutional investors own 95.00% of the company’s stock.

Shares of CHWY traded up $0.71 on Monday, hitting $63.44. 21,384 shares of the stock traded hands, compared to its average volume of 2,960,725. The firm has a market capitalization of $26.50 billion, a P/E ratio of 3,136.50 and a beta of 0.32. Chewy has a 1 year low of $55.81 and a 1 year high of $120.00. The stock’s 50 day moving average is $78.75 and its two-hundred day moving average is $79.03.

Chewy (NYSE:CHWY) last posted its quarterly earnings results on Tuesday, August 31st. The company reported ($0.04) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.02) by ($0.02). Chewy had a return on equity of 47.79% and a net margin of 0.13%. The company had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.17 billion. During the same period in the prior year, the business earned ($0.08) EPS. The business’s revenue for the quarter was up 26.8% on a year-over-year basis. On average, sell-side analysts expect that Chewy will post 0.07 earnings per share for the current fiscal year.

About Chewy

Chewy, Inc engages in the provision of pure-play e-commerce business. It supplies pet medications, food, treats and other pet-health products and services for dogs, cats, fish, birds, small pets, horses, and reptiles. The company was founded by Ryan Cohen and Michael Day in September 2011 and is headquartered in Dania Beach, FL.

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Analyst Recommendations for Chewy (NYSE:CHWY)

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