Chewy’s (CHWY) “Buy” Rating Reiterated at William Blair

William Blair restated their buy rating on shares of Chewy (NYSE:CHWY) in a report issued on Wednesday morning, TipRanks reports. William Blair also issued estimates for Chewy’s Q4 2020 earnings at ($0.18) EPS, FY2020 earnings at ($0.66) EPS, Q1 2021 earnings at ($0.13) EPS, Q2 2021 earnings at ($0.16) EPS, Q3 2021 earnings at ($0.16) EPS, Q4 2021 earnings at ($0.10) EPS, FY2021 earnings at ($0.55) EPS and FY2022 earnings at ($0.19) EPS.

Several other analysts have also recently weighed in on the company. Morgan Stanley upgraded Chewy from an equal weight rating to an overweight rating and set a $30.00 price target on the stock in a report on Thursday, December 5th. Royal Bank of Canada boosted their price target on Chewy from $37.00 to $38.00 and gave the stock a sector perform rating in a report on Tuesday. Wedbush restated a neutral rating and set a $30.00 price target on shares of Chewy in a report on Monday, December 2nd. Zacks Investment Research cut Chewy from a hold rating to a sell rating in a report on Tuesday. Finally, Nomura upgraded Chewy from a neutral rating to a buy rating and boosted their price target for the stock from $32.00 to $36.00 in a report on Monday, September 23rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $35.92.

NYSE:CHWY opened at $28.26 on Wednesday. The business’s 50-day moving average price is $24.45. Chewy has a 1-year low of $21.68 and a 1-year high of $41.34.

Chewy (NYSE:CHWY) last released its quarterly earnings results on Monday, December 9th. The company reported ($0.20) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate 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. The company’s revenue was up 40.5% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.29) EPS. On average, research analysts anticipate that Chewy will post -0.63 EPS for the current year.

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

A number of institutional investors and hedge funds have recently modified their holdings of the business. Morgan Stanley acquired a new position in Chewy in the second quarter valued at approximately $165,887,000. Baillie Gifford & Co. acquired a new position in Chewy in the second quarter valued at approximately $116,574,000. Vanguard Group Inc. acquired a new position in Chewy in the second quarter valued at approximately $115,212,000. Price T Rowe Associates Inc. MD acquired a new position in Chewy in the second quarter valued at approximately $97,010,000. Finally, Massachusetts Financial Services Co. MA lifted its stake in Chewy by 10.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,228,896 shares of the company’s stock valued at $54,786,000 after buying an additional 201,871 shares during the period.

About Chewy

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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Analyst Recommendations for Chewy (NYSE:CHWY)

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