Chewy (NYSE:CHWY) Price Target Lowered to $55.00 at Wells Fargo & Company

Chewy (NYSE:CHWY – Get Rating) had its target price lowered by analysts at Wells Fargo & Company from $65.00 to $55.00 in a research report issued to clients and investors on Friday, The Fly reports. Wells Fargo & Company‘s price objective indicates a potential upside of 88.49% from the company’s current price.

A number of other brokerages have also recently issued reports on CHWY. Royal Bank of Canada cut their price objective on shares of Chewy from $73.00 to $59.00 in a research note on Thursday. Zacks Investment Research raised shares of Chewy from a “strong sell” rating to a “hold” rating in a research note on Wednesday. Piper Sandler cut their price objective on shares of Chewy from $45.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday. Evercore ISI cut their price objective on shares of Chewy from $97.00 to $57.00 in a research note on Wednesday, March 30th. Finally, Barclays upped their price objective on shares of Chewy from $26.00 to $28.00 and gave the company an “equal weight” rating in a research note on Thursday. Ten research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $64.48.

Shares of NYSE:CHWY opened at $29.18 on Friday. The company’s fifty day moving average price is $33.77 and its 200-day moving average price is $45.27. The firm has a market capitalization of $12.27 billion, a price-to-earnings ratio of -126.87 and a beta of 0.77. Chewy has a one year low of $22.22 and a one year high of $97.74.

Chewy (NYSE:CHWY – Get Rating) last issued its quarterly earnings results on Wednesday, June 1st. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.17. The firm had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.41 billion. Chewy had a negative net margin of 1.02% and a negative return on equity of 181.11%. The business’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.09 EPS. As a group, research analysts forecast that Chewy will post -0.38 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the company. Elequin Capital LP purchased a new stake in shares of Chewy in the 1st quarter worth about $25,000. CWM LLC purchased a new stake in shares of Chewy in the 4th quarter worth about $27,000. Jacobi Capital Management LLC lifted its position in shares of Chewy by 3,636.4% in the 3rd quarter. Jacobi Capital Management LLC now owns 411 shares of the company’s stock worth $28,000 after purchasing an additional 400 shares during the period. EMC Capital Management purchased a new stake in shares of Chewy in the 4th quarter worth about $28,000. Finally, First Horizon Advisors Inc. lifted its position in shares of Chewy by 254.1% in the 4th quarter. First Horizon Advisors Inc. now owns 517 shares of the company’s stock worth $30,000 after purchasing an additional 371 shares during the period.

About Chewy (Get Rating)

Chewy, Inc, together with its subsidiaries, engages in the pure play e-commerce business in the United States. The company 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 www.chewy.com retail Website, as well as its mobile applications.

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