Chewy (NYSE:CHWY) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Chewy (NYSE:CHWY - Get Free Report) had its target price lifted by JPMorgan Chase & Co. from $36.00 to $47.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price points to a potential upside of 12.92% from the stock's previous close.

CHWY has been the subject of several other reports. Mizuho downgraded shares of Chewy from an "outperform" rating to a "neutral" rating and upped their price objective for the company from $43.00 to $47.00 in a research note on Monday, June 9th. Needham & Company LLC reissued a "hold" rating on shares of Chewy in a research note on Thursday. Morgan Stanley decreased their price target on shares of Chewy from $40.00 to $39.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Wedbush reissued an "outperform" rating and issued a $39.00 price target on shares of Chewy in a research note on Thursday, March 27th. Finally, Jefferies Financial Group reissued a "hold" rating and issued a $43.00 price target (up from $41.00) on shares of Chewy in a research note on Thursday, June 5th. Nine research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $43.72.

Chewy Price Performance

NYSE CHWY traded up $0.41 during trading on Thursday, hitting $41.62. 7,209,845 shares of the company's stock traded hands, compared to its average volume of 6,951,483. The stock has a fifty day moving average of $39.84 and a two-hundred day moving average of $36.68. Chewy has a 12-month low of $19.75 and a 12-month high of $48.62. The firm has a market cap of $17.22 billion, a P/E ratio of 45.74, a PEG ratio of 2.21 and a beta of 1.75.

Chewy (NYSE:CHWY - Get Free Report) last posted its quarterly earnings results on Wednesday, June 11th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01. The business had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.08 billion. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The company's revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.31 earnings per share. As a group, analysts expect that Chewy will post 0.24 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Sumit Singh sold 8,552 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $33.35, for a total value of $285,209.20. Following the sale, the chief executive officer now owns 62,096 shares in the company, valued at approximately $2,070,901.60. This trade represents a 12.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Satish Mehta sold 9,243 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $36.50, for a total transaction of $337,369.50. Following the completion of the sale, the chief technology officer now owns 276,467 shares in the company, valued at $10,091,045.50. This represents a 3.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 236,046 shares of company stock worth $9,387,635 over the last 90 days. 0.43% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC raised its position in Chewy by 150.2% in the first quarter. Parallel Advisors LLC now owns 788 shares of the company's stock worth $26,000 after acquiring an additional 473 shares during the period. Banque Transatlantique SA bought a new position in Chewy in the fourth quarter worth approximately $30,000. Golden State Wealth Management LLC raised its position in Chewy by 104.6% in the first quarter. Golden State Wealth Management LLC now owns 941 shares of the company's stock worth $31,000 after acquiring an additional 481 shares during the period. N.E.W. Advisory Services LLC bought a new position in Chewy in the first quarter worth approximately $44,000. Finally, North Star Investment Management Corp. raised its position in shares of Chewy by 26.6% during the 1st quarter. North Star Investment Management Corp. now owns 1,678 shares of the company's stock valued at $55,000 after purchasing an additional 353 shares during the period. 93.09% of the stock is currently owned by institutional investors.

Chewy Company Profile

Chewy, Inc, together with its subsidiaries, engages in the pure play e-commerce business in the United States. It provides pet food and treats, pet supplies and pet medications, and other pet-health products, as well as pet services for dogs, cats, fish, birds, small pets, horses, and reptiles through its retail websites and mobile applications.