Benzinga - by Avi Kapoor, Benzinga Staff Writer.
Chewy, Inc. (NYSE: CHWY) reported mixed third-quarter financial results and cut FY23 net sales guidance on Wednesday.
Chewy reported quarterly adjusted earnings of 15 cents per share which topped the analyst consensus estimate of a loss of 6 cents. The company reported quarterly sales of $2.74 billion, missing analyst expectations of $2.76 billion, according to Benzinga Pro.
The company lowered its full-year 2023 net sales forecast from between $11.15 billion and $11.35 billion to between $11.08 billion and $11.10 billion.
Chewy shares rose 5.1% to close at $19.35 on Wednesday.
These analysts made changes to their price targets on Chewy following earnings announcement.
- Barclays cut the price target on Chewy from $20 to $19. Barclays analyst Trevor Young maintained an Equal-Weight rating.
- Needham lowered the price target on Chewy from $45 to $20. Needham analyst Anna Andreeva maintained a Buy rating.
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Latest Ratings for CHWY
Mar 2022 | Deutsche Bank | Initiates Coverage On | Buy | |
Jan 2022 | RBC Capital | Initiates Coverage On | Outperform | |
Jan 2022 | Piper Sandler | Downgrades | Overweight | Neutral |
View the Latest Analyst Ratings
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