Chewy (NYSE:CHWY) Posts Earnings Results, Beats Expectations By $0.11 EPS

Chewy (NYSE:CHWY) issued its quarterly earnings results on Wednesday. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.11, Briefing.com reports. The company had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same period in the prior year, the company posted ($0.12) earnings per share. The company’s revenue was up 31.7% on a year-over-year basis.

Chewy stock opened at $79.35 on Friday. The company has a 50 day moving average of $76.96. Chewy has a twelve month low of $44.31 and a twelve month high of $120.00. The firm has a market cap of $32.95 billion, a price-to-earnings ratio of -345.00, a PEG ratio of 19.52 and a beta of 0.08.

Several analysts recently commented on the stock. Piper Sandler reissued an “overweight” rating and set a $110.00 target price (down from $125.00) on shares of Chewy in a research note on Friday. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell assumed coverage on shares of Chewy in a research note on Monday, March 15th. They set a “neutral” rating and a $95.00 target price for the company. Jefferies Financial Group increased their target price on shares of Chewy from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, March 31st. Bank of America reissued a “buy” rating and set a $133.00 target price on shares of Chewy in a research note on Friday, April 16th. Finally, Zacks Investment Research lowered shares of Chewy from a “buy” rating to a “hold” rating in a research note on Wednesday, June 2nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $96.56.

In other news, insider Stacy Bowman sold 11,422 shares of the stock in a transaction on Tuesday, March 16th. The shares were sold at an average price of $87.00, for a total transaction of $993,714.00. Following the transaction, the insider now owns 77,590 shares in the company, valued at approximately $6,750,330. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Argos Holdings Gp Llc sold 6,150,000 shares of the stock in a transaction on Monday, April 12th. The stock was sold at an average price of $81.50, for a total transaction of $501,225,000.00. The disclosure for this sale can be found here. Corporate insiders own 0.67% of the company’s stock.

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 and treats, pet supplies and pet medications, and other pet-health products, as well as pet services for dogs, cats, fish, birds, small pets, horses, and reptiles through its chewy.com retail Website, as well as its mobile applications.

Read More: Dow Jones Industrial Average (DJIA)

Earnings History for Chewy (NYSE:CHWY)

Receive News & Ratings for Chewy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chewy and related companies with MarketBeat.com's FREE daily email newsletter.