JPMorgan Chase & Co. Issues Pessimistic Forecast for Chewy (NYSE:CHWY) Stock Price

Key Points

• JPMorgan cut Chewy’s price target from $35 to $29 while keeping an overweight rating, implying upside from the stock’s prior close despite the lower forecast.
• Chewy’s shares fell to $18.78 on Thursday, near their 52-week low of $18.38, as multiple analysts trimmed targets and some warned about softer growth and weaker consumer spending.
• The company recently beat quarterly earnings estimates and posted 9.7% revenue growth, but it also lowered its full-year sales outlook, which is weighing on sentiment.

Chewy (NYSE:CHWY - Get Free Report) had its target price cut by research analysts at JPMorgan Chase & Co. from $35.00 to $29.00 in a report issued on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 54.43% from the stock's previous close.

CHWY has been the subject of a number of other research reports. TD Cowen reduced their price target on Chewy from $42.00 to $34.00 and set a "buy" rating for the company in a research report on Thursday. Guggenheim reaffirmed a "buy" rating and issued a $45.00 price target on shares of Chewy in a research report on Monday, April 27th. Wedbush reduced their price target on Chewy from $42.00 to $36.00 and set an "outperform" rating for the company in a research report on Thursday, March 26th. Royal Bank Of Canada reduced their price target on Chewy from $47.00 to $34.00 and set an "outperform" rating for the company in a research report on Thursday. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Chewy in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Chewy presently has an average rating of "Moderate Buy" and a consensus target price of $33.50.

Chewy Price Performance

CHWY traded down $1.20 during trading on Thursday, reaching $18.78. 8,581,427 shares of the stock traded hands, compared to its average volume of 8,472,137. The stock has a market cap of $7.82 billion, a price-to-earnings ratio of 36.10, a price-to-earnings-growth ratio of 0.91 and a beta of 1.44. Chewy has a fifty-two week low of $18.38 and a fifty-two week high of $43.84. The stock's 50-day simple moving average is $23.80 and its two-hundred day simple moving average is $27.62.

Chewy (NYSE:CHWY - Get Free Report) last announced its quarterly earnings results on Wednesday, June 10th. The company reported $0.43 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.19. Chewy had a return on equity of 53.48% and a net margin of 1.77%.The company had revenue of $3.36 billion during the quarter, compared to analysts' expectations of $3.35 billion. During the same quarter in the previous year, the firm earned $0.35 earnings per share. The business's quarterly revenue was up 9.7% compared to the same quarter last year. Chewy has set its Q2 2026 guidance at 0.360-0.360 EPS. Research analysts anticipate that Chewy will post 0.87 earnings per share for the current fiscal year.

Insider Transactions at Chewy

In other news, CEO Sumit Singh sold 83,306 shares of the company's stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $25.60, for a total value of $2,132,633.60. Following the sale, the chief executive officer directly owned 874,061 shares in the company, valued at approximately $22,375,961.60. This represents a 8.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Da-Wai Hu sold 8,149 shares of the company's stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $26.91, for a total value of $219,289.59. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 95,675 shares of company stock worth $2,459,955 over the last quarter. 0.34% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Osterweis Capital Management Inc. acquired a new position in shares of Chewy in the 2nd quarter valued at $30,000. CoreCap Advisors LLC increased its position in shares of Chewy by 306.3% in the 4th quarter. CoreCap Advisors LLC now owns 845 shares of the company's stock valued at $28,000 after buying an additional 637 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Chewy in the 4th quarter valued at $31,000. Harbour Investments Inc. increased its position in shares of Chewy by 81.4% in the 4th quarter. Harbour Investments Inc. now owns 907 shares of the company's stock valued at $30,000 after buying an additional 407 shares in the last quarter. Finally, Modus Advisors LLC bought a new stake in shares of Chewy in the 4th quarter valued at $34,000. Institutional investors and hedge funds own 93.09% of the company's stock.

Key Headlines Impacting Chewy

Here are the key news stories impacting Chewy this week:

• Positive Sentiment: Chewy continues to show healthy profitability and operational execution, with Q1 sales growth, margin expansion, and record profitability reinforcing the long-term bull case. Chewy beats profit estimates as revenue grows 7.7%
• Positive Sentiment: The acquisition of Modern Animal expands Chewy Vet Care and strengthens the company’s push into a unified pet-health ecosystem spanning clinics, pharmacy, and digital services. Chewy Expands Vet Clinics To Build Unified Omnichannel Pet Health Platform
• Neutral Sentiment: Several analysts still maintain constructive ratings, including Buy/Outperform views, even as they lowered price targets after the guidance cut. These Analysts Cut Their Forecasts On Chewy Following Q1 Earnings
• Neutral Sentiment: Chewy outlined fiscal 2026 net sales of $13.40 billion to $13.55 billion and said it still expects to keep net leverage below 2x adjusted EBITDA, signaling a focus on balance-sheet discipline. Chewy outlines fiscal 2026 net sales of $13.40B-$13.55B while targeting net leverage below 2x adjusted EBITDA
• Negative Sentiment: Wall Street is focusing on slowing growth and weaker consumer trends, which is why MoffettNathanson downgraded Chewy to Neutral and cut its target sharply. MoffettNathanson cuts Chewy to neutral as growth slows, target slashed
• Negative Sentiment: RBC also warned that Chewy’s muted growth outlook limits near-term catalysts, while multiple other firms trimmed price targets after the Q1 report. Chewy's Muted Growth Outlook Limits Near-Term Catalysts, RBC Says
• Negative Sentiment: Management also cut full-year sales guidance, citing softer pet spending and a more stretched consumer, which is weighing on the stock today. Chewy Cuts FY Outlook Despite Higher Sales, Profit

Chewy Company Profile

Chewy, Inc NYSE: CHWY is a leading e-commerce retailer specializing in pet food, supplies and services. The company offers a comprehensive assortment of products for dogs, cats, fish, birds and other small animals, including prescription medications, veterinary health products, grooming essentials and toys. Through its online platform and mobile app, Chewy provides an intuitive shopping experience with features such as Autoship, ensuring regular deliveries of pet essentials at schedule intervals.

Founded in 2011 by Ryan Cohen and Michael Day, Chewy initially operated under the name Mr.

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