Chewy (NYSE:CHWY) Stock Has Average Target Price of $30.45 According to Analysts

Key Points

• Analyst sentiment is moderately positive: Chewy has a consensus “Moderate Buy” rating from 25 analysts, with an average one-year price target of $30.45.
• Recent quarterly results beat expectations: Chewy reported EPS of $0.36 versus estimates of $0.18, while revenue of $3.33 billion slightly exceeded forecasts and rose 7.3% year over year.
• Some analysts recently lowered their price targets, including Rosenblatt to $24, Baird to $28, and TD Cowen to $32, while maintaining neutral, outperform, and buy ratings, respectively.

Shares of Chewy (NYSE:CHWY - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the twenty-five ratings firms that are currently covering the company, MarketBeat.com reports. Eight investment analysts have rated the stock with a hold recommendation, sixteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $30.45.

Several research firms recently commented on CHWY. Zacks Research upgraded Chewy from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 11th. Rosenblatt Securities decreased their price target on Chewy from $25.00 to $24.00 and set a "neutral" rating on the stock in a research note on Thursday, September 10th. Robert W. Baird lowered their price target on Chewy from $30.00 to $28.00 and set an "outperform" rating on the stock in a research report on Thursday, September 10th. TD Cowen dropped their price objective on Chewy from $34.00 to $32.00 and set a "buy" rating for the company in a research note on Thursday, September 10th. Finally, Piper Sandler reiterated an "overweight" rating on shares of Chewy in a research note on Friday, August 21st.

Insider Activity

In related news, CAO William G. Billings sold 4,815 shares of Chewy stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $23.00, for a total transaction of $110,745.00. Following the completion of the transaction, the chief accounting officer directly owned 36,595 shares of the company's stock, valued at $841,685. This trade represents a 11.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sumit Singh sold 3,228 shares of Chewy stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $21.40, for a total transaction of $69,079.20. Following the transaction, the chief executive officer directly owned 127,481 shares of the company's stock, valued at $2,728,093.40. This represents a 2.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 48,328 shares of company stock worth $1,035,010. 0.34% of the stock is owned by insiders.

Institutional Trading of Chewy

Several hedge funds have recently modified their holdings of the company. Parallel Advisors LLC increased its holdings in Chewy by 106.8% during the 1st quarter. Parallel Advisors LLC now owns 1,584 shares of the company's stock valued at $43,000 after purchasing an additional 818 shares in the last quarter. Root Financial Partners LLC bought a new stake in shares of Chewy during the third quarter worth $30,000. Eurizon Capital SGR S.p.A. grew its holdings in shares of Chewy by 596.3% during the third quarter. Eurizon Capital SGR S.p.A. now owns 1,894 shares of the company's stock worth $35,000 after purchasing an additional 1,622 shares during the last quarter. Bessemer Group Inc. grew its holdings in shares of Chewy by 446.9% during the third quarter. Bessemer Group Inc. now owns 5,354 shares of the company's stock worth $97,000 after purchasing an additional 4,375 shares during the last quarter. Finally, Globeflex Capital L P acquired a new stake in shares of Chewy in the second quarter valued at $109,000. Institutional investors and hedge funds own 93.09% of the company's stock.

Chewy Trading Down 1.2%

Shares of CHWY stock opened at $22.78 on Wednesday. The firm has a fifty day moving average of $20.79 and a 200-day moving average of $23.00. The stock has a market cap of $9.16 billion, a price-to-earnings ratio of 34.52, a P/E/G ratio of 0.96 and a beta of 1.33. Chewy has a 52-week low of $17.40 and a 52-week high of $37.34. 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 (NYSE:CHWY - Get Free Report) last announced its quarterly earnings results on Wednesday, September 9th. The company reported $0.36 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $3.32 billion. During the same quarter last year, the company earned $0.33 earnings per share. The company's revenue for the quarter was up 7.3% compared to the same quarter last year. On average, equities research analysts forecast that Chewy will post 0.76 earnings per share for the current fiscal year.

About Chewy

Chewy, Inc. is an online retailer focused on pet food, supplies and related services. Through its website and mobile app, the company sells products for dogs, cats and other pets, including food, treats, toys, bedding and grooming supplies. Chewy also offers pet medications and health products through Chewy Pharmacy, along with services such as veterinary care. Its business combines product sales with services designed to support pet owners throughout their pets' lives. Founded in 2011, Chewy primarily serves customers in the United States.

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