Chewy Shares Are Getting Chewed Up And Spit Out Thursday: What's Going On?

Chewy Inc CHWY shares are trading lower Thursday after the company reported fourth-quarter financial results. Multiple analysts lowered price targets on the stock following the print.

  • Q4 Revenue: $2.71 billion beat estimates of $2.64 billion
  • Q4 EPS: 1 cent beat estimates for a loss of 11 cents

Fourth-quarter revenue increased 13.4% year-over-year, while gross margins grew to 28.1%. 

"Against the backdrop of a rapidly changing operating and economic environment, Chewy produced record-high revenue, profitability, and free cash flow," said Sumit Singh, CEO of Chewy.

"Chewy's disciplined execution and dedication to serving pet parents and partners with a widening ecosystem of offerings led to another year of market share gains in the pet category, which continues to demonstrate its resilience in the present environment."

Analyst Changes:

  • Barclays analyst Trevor Young maintained Chewy with an Equal-Weight and lowered the price target from $35 to $33.
  • Needham analyst Anna Andreeva reiterated Chewy with a Buy and a $55 price target.
  • Deutsche Bank analyst Lee Horowitz downgraded Chewy from Buy to Hold and lowered the price target from $41 to $35.

Related Link: Chewy Gets Price Targets Cuts By Analysts After Q4 Results

CHWY Price Action: Chewy has a 52-week high of $52.88 and a 52-week low of $22.23.

The stock was down 6.22% at $35.38 at the time of writing, according to Benzinga Pro.

Photo: Radovan Zierik 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: EarningsNewsMoversSumit Singhwhy 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!