Benzinga - Chewy, Inc. (NYSE: CHWY) reported better-than-expected earnings and sales results for its fourth quarter. However, the company's active customers came in at 20.4 million, down 1.2% from a year ago.
Chewy said revenue jumped 13.4% year-over-year to $2.71 billion, which beat average analyst estimates of $2.64 billion. The company reported quarterly earnings of 1 cent per share, which easily beat consensus estimates for a loss of 11 cents per share.
Chewy shares dipped 10% to close at $20.99 on Tuesday.
These analysts made changes to their price targets on Chewy following the release of results.
- Barclays cut the price target on Chewy from $35 to $33. Barclays analyst Trevor Young maintained an Equal-Weight rating.
- Deutsche Bank lowered the price target on Chewy from $41 to $35. Deutsche Bank analyst Lee Horowitz downgraded the stock from Buy to Hold.
- Needham analyst Anna Andreeva, meanwhile, reiterated Chewy with a Buy and maintained a $55 price target.
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