Why Chewy Stock Is Trading Lower - Chewy (NYSE:CHWY)

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 analyst Trevor Young maintained Chewy with an Equal-Weight rating and lowered the price target from $43 to $41.
Citigroup analyst Steven Zaccone maintained Chewy with a Neutral rating and lowered the price target from $48 to $45.
Morgan Stanley 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.

CHWYChewy Inc

$22.58-0.09%

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