Chewy Likely To Report Higher Q1 Earnings; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

Chewy, Inc. CHWY is set to release earnings results for its first quarter, before the opening bell on May 29.

Analysts expect the Plantation, Florida-based company to report quarterly earnings at 7 cents per share, up from 5 cents per share in the year-ago period. Chewy is projected to report quarterly revenue of $2.85 billion, according to data from Benzinga Pro.

On March 20, Chewy reported fourth-quarter net sales of $2.83 billion, up 4.2% year-over-year. The total beat a Street consensus estimate of $2.79 billion.

Chewy shares rose 2.1% to close at $16.91 on Tuesday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let's have a look at how Benzinga's most-accurate analysts have rated the company in the recent period.

• Wedbush analyst Seth Basham reiterated an Outperform rating with a price target of $25 on May 24. This analyst has an accuracy rate of 71%.
• Raymond James analyst Rick Patel maintained an Outperform rating and cut the price target from $20 to $19 on May 23. This analyst has an accuracy rate of 81%.
• Piper Sandler analyst Peter Keith maintained a Neutral rating and slashed the price target from $19 to $16 on April 23. This analyst has an accuracy rate of 75%.
• JP Morgan analyst Doug Anmuth maintained an Overweight rating and lowered the price target from $25 to $22 on March 21. This analyst has an accuracy rate of 84%.
• Goldman Sachs analyst Eric Sheridan maintained a Buy rating and cut the price target from $36 to $32 on March 21. This analyst has an accuracy rate of 78%.

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