Why Chewy Shares Are Moving Monday

Chewy, Inc. CHWY shares are volatile on Monday after analysts at Goldman Sachs upgraded their rating of the stock to Buy.

The Details:

Goldman Sachs analyst Eric Sheridan upgraded Chewy from Neutral to Buy and announced a price target of $50 for CHWY shares.

CHWY is trading on above average volume with over 4 million shares already traded in Monday's session. According to data from Benzinga Pro, the stock has a 100-day average trading volume of 3.889 million shares. 

Retail traders have long shown interest in Chewy, and the stock is currently one of the top trending tickers on StockTwits and Yahoo! Finance. CHWY also has significant short interest with more than 23% of shares being sold short, according to Benzinga Pro.  

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CHWY Price Action: According to Benzinga Pro, Chewy shares are trading 0.82% lower at $37.68 at the time of publication.

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