Chewy (NYSE:CHWY) Price Target Raised to $24.00

Chewy (NYSE:CHWYGet Free Report) had its price target lifted by stock analysts at Raymond James from $19.00 to $24.00 in a research report issued on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Raymond James’ price target indicates a potential upside of 9.49% from the stock’s previous close.

Several other analysts have also recently commented on CHWY. JMP Securities reissued a “market outperform” rating and issued a $28.00 price target on shares of Chewy in a report on Friday, March 15th. JPMorgan Chase & Co. reduced their price target on Chewy from $25.00 to $22.00 and set an “overweight” rating for the company in a report on Thursday, March 21st. Needham & Company LLC raised their price target on Chewy from $25.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday. Citigroup reduced their price target on Chewy from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Tuesday, May 7th. Finally, Jefferies Financial Group reduced their price target on Chewy from $27.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.60.

Check Out Our Latest Stock Analysis on Chewy

Chewy Trading Up 2.0 %

Shares of NYSE CHWY traded up $0.42 during trading hours on Thursday, reaching $21.92. The stock had a trading volume of 9,460,133 shares, compared to its average volume of 9,227,435. The firm has a market cap of $9.53 billion, a price-to-earnings ratio of 274.16, a PEG ratio of 8.62 and a beta of 0.91. Chewy has a fifty-two week low of $14.69 and a fifty-two week high of $40.78. The firm has a 50-day moving average of $16.30 and a 200-day moving average of $18.23.

Chewy (NYSE:CHWYGet Free Report) last posted its quarterly earnings data on Wednesday, March 20th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.09. Chewy had a return on equity of 11.69% and a net margin of 0.33%. The company had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.79 billion. On average, equities analysts predict that Chewy will post 0.08 EPS for the current year.

Insiders Place Their Bets

In other Chewy news, CEO Sumit Singh sold 46,090 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $15.12, for a total transaction of $696,880.80. Following the completion of the transaction, the chief executive officer now owns 1,379,100 shares of the company’s stock, valued at $20,851,992. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Stacy Bowman sold 8,025 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $15.53, for a total transaction of $124,628.25. Following the sale, the chief accounting officer now owns 243,769 shares in the company, valued at $3,785,732.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sumit Singh sold 46,090 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $15.12, for a total value of $696,880.80. Following the sale, the chief executive officer now owns 1,379,100 shares in the company, valued at approximately $20,851,992. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,993 shares of company stock valued at $1,067,363. Corporate insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Chewy

Several hedge funds have recently made changes to their positions in the business. Private Advisor Group LLC boosted its holdings in Chewy by 7.9% in the third quarter. Private Advisor Group LLC now owns 11,984 shares of the company’s stock valued at $219,000 after acquiring an additional 875 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Chewy by 364.2% in the third quarter. Victory Capital Management Inc. now owns 57,662 shares of the company’s stock valued at $1,053,000 after acquiring an additional 45,240 shares during the last quarter. Arizona State Retirement System boosted its holdings in Chewy by 18.1% in the third quarter. Arizona State Retirement System now owns 31,712 shares of the company’s stock valued at $579,000 after acquiring an additional 4,860 shares during the last quarter. Barclays PLC boosted its holdings in Chewy by 171.3% in the third quarter. Barclays PLC now owns 371,464 shares of the company’s stock valued at $6,784,000 after acquiring an additional 234,556 shares during the last quarter. Finally, Quantbot Technologies LP boosted its holdings in Chewy by 21.9% in the third quarter. Quantbot Technologies LP now owns 31,916 shares of the company’s stock valued at $583,000 after acquiring an additional 5,738 shares during the last quarter. Institutional investors and hedge funds own 93.09% of the company’s stock.

Chewy Company Profile

(Get Free Report)

Chewy, Inc, together with its subsidiaries, engages in the pure play e-commerce business in the United States. It provides pet food and treats, pet supplies and pet medications, and other pet-health products, as well as pet services for dogs, cats, fish, birds, small pets, horses, and reptiles through its retail websites and mobile applications.

Further Reading

Analyst Recommendations for Chewy (NYSE:CHWY)

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