Why Chewy Stock Is Trading Lower

Chewy Inc 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.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsPrice TargetAnalyst RatingsMoversTrading Ideaswhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!