Chewy (NYSE:CHWY) Shares Gap Up to $26.88

Chewy Inc (NYSE:CHWY) shares gapped up prior to trading on Thursday . The stock had previously closed at $26.96, but opened at $26.88. Chewy shares last traded at $27.85, with a volume of 4,200,278 shares traded.

Several research firms recently weighed in on CHWY. Zacks Investment Research lowered Chewy from a “hold” rating to a “sell” rating in a report on Tuesday. Royal Bank of Canada boosted their target price on Chewy from $37.00 to $38.00 and gave the stock a “sector perform” rating in a report on Tuesday. Raymond James restated a “hold” rating on shares of Chewy in a report on Wednesday, September 18th. Wedbush restated a “neutral” rating and issued a $30.00 target price on shares of Chewy in a report on Monday, December 2nd. Finally, Credit Suisse Group began coverage on Chewy in a report on Monday, November 11th. They issued an “outperform” rating and a $29.00 target price for the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company. Chewy currently has a consensus rating of “Hold” and a consensus target price of $35.92.

The firm has a fifty day moving average of $24.44.

Chewy (NYSE:CHWY) last issued its quarterly earnings results on Monday, December 9th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.04). The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the previous year, the business posted ($0.29) EPS. The firm’s revenue was up 40.5% on a year-over-year basis. Research analysts anticipate that Chewy Inc will post -0.58 earnings per share for the current fiscal year.

In other Chewy news, Director James A. Star purchased 41,521 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was bought at an average cost of $23.94 per share, for a total transaction of $994,012.74. Also, Director Sharon Mccollam purchased 3,500 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were acquired at an average price of $27.50 per share, with a total value of $96,250.00.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CHWY. Creative Planning bought a new stake in shares of Chewy during the second quarter valued at approximately $415,000. SG Americas Securities LLC bought a new stake in shares of Chewy during the second quarter valued at approximately $2,117,000. BNP Paribas Arbitrage SA bought a new stake in shares of Chewy during the second quarter valued at approximately $54,000. Advisor Group Inc. bought a new stake in shares of Chewy during the second quarter valued at approximately $45,000. Finally, Pendal Group Ltd bought a new stake in shares of Chewy during the second quarter valued at approximately $320,000.

Chewy Company Profile (NYSE:CHWY)

Chewy, Inc, together with its subsidiaries, engages in the pure play e-commerce business in the United States. The company provides pet food, pet products, pet medications, and other pet health products for dogs, cats, fish, birds, small pets, horses, and reptiles through its chewy.com retail Website, as well as its mobile applications.

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