Chewy (NYSE:CHWY) Given New $28.00 Price Target at Mizuho

Key Points

• Mizuho lowered Chewy’s price target to $28 from $32 while maintaining an “outperform” rating, implying roughly 50% upside from the previous close.
• Analyst sentiment remains broadly positive, with Chewy holding a consensus “Moderate Buy” rating and an average price target of $30.45.
• Chewy beat quarterly earnings expectations, reporting $0.36 EPS versus $0.18 expected and $3.33 billion in revenue, up 7.3% year over year.

Chewy (NYSE:CHWY - Get Free Report) had its price target lowered by stock analysts at Mizuho from $32.00 to $28.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has an "outperform" rating on the stock. Mizuho's price target suggests a potential upside of 50.01% from the company's previous close.

Several other brokerages also recently weighed in on CHWY. Citigroup reaffirmed a "market outperform" rating on shares of Chewy in a research note on Thursday, September 10th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Chewy from $45.00 to $32.00 and set a "buy" rating for the company in a research report on Thursday, June 11th. Piper Sandler reiterated an "overweight" rating on shares of Chewy in a report on Friday, August 21st. Zacks Research upgraded Chewy from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 11th. Finally, Citizens Jmp reissued a "market outperform" rating and issued a $28.00 price objective on shares of Chewy in a research note on Thursday, September 10th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $30.45.

Chewy Stock Performance

Shares of CHWY opened at $18.67 on Tuesday. The firm has a fifty day moving average of $22.21 and a 200-day moving average of $22.57. The company has a market cap of $7.50 billion, a price-to-earnings ratio of 28.28, a price-to-earnings-growth ratio of 0.75 and a beta of 1.42. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.42 and a current ratio of 0.84. Chewy has a 1 year low of $17.40 and a 1 year high of $40.55.

Chewy (NYSE:CHWY - Get Free Report) last issued its quarterly earnings data on Wednesday, September 9th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.18. Chewy had a net margin of 2.09% and a return on equity of 60.88%. The firm had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.32 billion. During the same period last year, the firm posted $0.33 EPS. Chewy's quarterly revenue was up 7.3% compared to the same quarter last year. As a group, equities analysts anticipate that Chewy will post 0.77 earnings per share for the current year.

Institutional Trading of Chewy

A number of institutional investors have recently bought and sold shares of the company. Harbour Investments Inc. raised its stake in shares of Chewy by 81.4% during the 4th quarter. Harbour Investments Inc. now owns 907 shares of the company's stock worth $30,000 after purchasing an additional 407 shares in the last quarter. Modus Advisors LLC bought a new stake in shares of Chewy in the 4th quarter valued at approximately $34,000. Parallel Advisors LLC increased its holdings in Chewy by 106.8% in the first quarter. Parallel Advisors LLC now owns 1,584 shares of the company's stock worth $43,000 after buying an additional 818 shares during the last quarter. Root Financial Partners LLC increased its holdings in Chewy by 137.0% in the first quarter. Root Financial Partners LLC now owns 2,969 shares of the company's stock worth $80,000 after buying an additional 1,716 shares during the last quarter. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych increased its holdings in Chewy by 25.0% in the first quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 4,500 shares of the company's stock worth $122,000 after buying an additional 900 shares during the last quarter. Institutional investors and hedge funds own 93.09% of the company's stock.

About Chewy

Chewy, Inc is an e-commerce company focused on pet products and services. Through its website and mobile applications, the company sells pet food, treats, supplies, toys, bedding, medications, and other products for dogs, cats, fish, birds, reptiles, and small pets.

Chewy supports recurring purchases through its Autoship program and provides access to prescription and over-the-counter pet medications through Chewy Pharmacy. The company also offers pet health-related services, including veterinary consultations in certain markets, and sells products under a range of national and private-label brands.

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