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These Analysts Cut Their Forecasts On Chewy After Q3 Results

Published 07/12/2023, 12:29
Updated 07/12/2023, 13:40
© Reuters.  These Analysts Cut Their Forecasts On Chewy After Q3 Results

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 2022Deutsche BankInitiates Coverage OnBuy
Jan 2022RBC CapitalInitiates Coverage OnOutperform
Jan 2022Piper SandlerDowngradesOverweightNeutral

View the Latest Analyst Ratings

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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