Robert W. Baird Lowers Chewy (NYSE:CHWY) Price Target to $30.00

Key Points

• Robert W. Baird cut Chewy’s price target from $40 to $30, while keeping an outperform rating. The new target still implies about 49.8% upside from the current share price.
• Analyst sentiment is mixed but still constructive overall: multiple firms recently lowered targets or ratings, yet the consensus remains Moderate Buy with an average target price of $36.91.
• Chewy’s latest earnings were solid, with EPS of $0.43 beating estimates and revenue of $3.36 billion slightly ahead of expectations, but management also trimmed full-year sales guidance amid softer consumer spending concerns.

Chewy (NYSE:CHWY - Get Free Report) had its target price reduced by equities researchers at Robert W. Baird from $40.00 to $30.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Robert W. Baird's price objective would suggest a potential upside of 49.76% from the company's current price.

Several other research analysts have also recently weighed in on CHWY. Weiss Ratings raised shares of Chewy from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, June 5th. BNP Paribas Exane reaffirmed a "neutral" rating and set a $28.00 target price (down from $38.00) on shares of Chewy in a report on Thursday, March 26th. Moffett Nathanson cut shares of Chewy from a "buy" rating to a "neutral" rating in a report on Wednesday. The Goldman Sachs Group reduced their target price on shares of Chewy from $52.00 to $46.00 and set a "buy" rating for the company in a report on Thursday, March 26th. Finally, Barclays reduced their target price on shares of Chewy from $48.00 to $40.00 and set an "overweight" rating for the company in a report on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $36.91.

Chewy Stock Down 1.8%

CHWY opened at $20.03 on Thursday. The firm has a 50 day moving average price of $23.80 and a 200-day moving average price of $27.62. Chewy has a twelve month low of $19.08 and a twelve month high of $43.84. The stock has a market capitalization of $8.35 billion, a price-to-earnings ratio of 38.52, a PEG ratio of 0.91 and a beta of 1.44.

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

Insiders Place Their Bets

In other news, General Counsel Da-Wai Hu sold 8,149 shares of the stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $26.91, for a total value of $219,289.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sumit Singh sold 4,220 shares of the company's stock in a transaction on Monday, May 4th. The stock was sold at an average price of $25.60, for a total transaction of $108,032.00. Following the transaction, the chief executive officer owned 123,955 shares of the company's stock, valued at approximately $3,173,248. This represents a 3.29% decrease in their position. The SEC filing for this sale provides additional information. 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. Over the last three months, insiders sold 95,675 shares of company stock valued at $2,459,955. Corporate insiders own 0.34% of the company's stock.

Institutional Investors Weigh In On Chewy

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC raised its stake in shares of Chewy by 106.8% in the first quarter. Parallel Advisors LLC now owns 1,584 shares of the company's stock valued at $43,000 after acquiring an additional 818 shares during the period. NewEdge Advisors LLC raised its stake in shares of Chewy by 171.6% in the first quarter. NewEdge Advisors LLC now owns 18,855 shares of the company's stock valued at $509,000 after acquiring an additional 11,913 shares during the period. Honeycomb Asset Management LP purchased a new stake in shares of Chewy in the first quarter valued at $4,725,000. Essential Partners LLC raised its stake in shares of Chewy by 144.7% in the first quarter. Essential Partners LLC now owns 7,778 shares of the company's stock valued at $210,000 after acquiring an additional 4,600 shares during the period. Finally, Bank of America Corp DE raised its stake in shares of Chewy by 12.7% in the first quarter. Bank of America Corp DE now owns 4,816,924 shares of the company's stock valued at $130,057,000 after acquiring an additional 542,298 shares during the period. Hedge funds and other institutional investors own 93.09% of the company's stock.

Chewy News Roundup

Here are the key news stories impacting Chewy this week:

• Positive Sentiment: Chewy posted Q1 net sales of $3.36 billion, up 7.7% year over year, and adjusted EPS of $0.43, topping estimates and reinforcing that the core business is still growing. Chewy Announces First Quarter 2026 Financial Results
• Positive Sentiment: Profitability improved, with gross margin rising to 30.1% and management signaling continued discipline on margins and free cash flow, which supports the long-term investment case. Chewy Inc (CHWY) Q1 2026 Earnings Call Highlights
• Positive Sentiment: Several analysts stayed bullish after the report, saying the results were better than feared and pointing to margin discipline and longer-term growth drivers such as veterinary services, clinics, health offerings, and AI initiatives. Chewy Maintains Buy Rating as Stronger‑Than‑Feared Results and Prudent Guidance Underscore Earnings Confidence
• Neutral Sentiment: Chewy is still expanding into higher-margin adjacent businesses, but those initiatives are early and not yet enough to offset near-term concerns about consumer pressure. CHWY Q1 Earnings Call Flags Softer Consumer Spending
• Negative Sentiment: Management trimmed full-year sales guidance, citing softer pet-related spending and a more cautious U.S. consumer, which is weighing on sentiment despite the earnings beat. Chewy Cuts FY Outlook Despite Higher Sales, Profit
• Negative Sentiment: The lowered revenue outlook and mixed analyst reaction suggest investors are worried growth may slow from here, especially after the stock’s sharp run-up in expectations ahead of earnings. Analyst Maintains Hold on Chewy Amid Macro Headwinds, Strategic Concerns, and Vet Services Expansion Upside

About Chewy

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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