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Why Chewy Stock Is Trading Lower

Published 30/03/2022, 15:06
Updated 30/03/2022, 15:40
© Reuters.  Why Chewy Stock Is Trading Lower

Chewy Inc (NYSE: CHWY) is trading lower Wednesday after the company reported worse-than-expected top-line financial results.

Chewy said fourth-quarter revenue increased 17% year-over-year to $2.39 billion, which came in below the $2.42 billion estimate. The company reported a quarterly net loss of $63.6 million.

Analyst Assessment: Several analyst firms lowered price targets on the stock following Chewy's quarterly results.

  • RBC Capital analyst Steven Shemesh maintained Chewy with an Outperform rating and lowered the price target from $77 to $73.
  • Barclays (LON:BARC) analyst Trevor Young maintained Chewy with an Equal-Weight rating and lowered the price target from $43 to $41.
  • Citigroup (NYSE:C) analyst Steven Zaccone maintained Chewy with a Neutral rating and lowered the price target from $48 to $45.
  • Morgan Stanley (NYSE:MS) maintained Chewy with an Equal-Weight rating and lowered the price target from $68 to $62.
  • Wedbush analyst Seth Basham maintained Chewy with a Neutral rating and lowered the price target from $55 to $45.
  • Jefferies analyst Stephanie Wissink maintained Chewy with a Buy rating and lowered the price target from $90 to $60.
CHWY 52-Week Range: $35.59 - $97.74

The stock was down 14.1% at $43.82 at time of publication, according to data from Benzinga Pro.

Photo: mattycoulton from Pixabay.

Latest Ratings for CHWY

DateFirmActionFromTo
Mar 2022 Deutsche Bank (DE:DBKGn)Initiates Coverage OnBuy
Jan 2022RBC CapitalInitiates Coverage OnOutperform
Jan 2022Piper SandlerDowngradesOverweightNeutral
View More Analyst Ratings for CHWY

View the Latest Analyst Ratings

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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