Needham & Company LLC Increases Chewy (NYSE:CHWY) Price Target to $30.00

Chewy (NYSE:CHWYGet Free Report) had its price target lifted by analysts at Needham & Company LLC from $25.00 to $30.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price objective suggests a potential upside of 39.28% from the stock’s current price.

Several other equities research analysts also recently weighed in on CHWY. Citigroup dropped their target price on shares of Chewy from $18.00 to $16.00 and set a “neutral” rating for the company in a research report on Tuesday, May 7th. JMP Securities reissued a “market outperform” rating and issued a $28.00 target price on shares of Chewy in a research report on Friday, March 15th. Jefferies Financial Group lowered their price objective on shares of Chewy from $27.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, March 21st. Royal Bank of Canada lowered their price objective on shares of Chewy from $35.00 to $22.00 and set an “outperform” rating for the company in a research report on Friday, March 22nd. Finally, Wedbush reaffirmed an “outperform” rating and set a $25.00 price objective on shares of Chewy in a research report on Friday, May 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $27.07.

Read Our Latest Stock Report on CHWY

Chewy Price Performance

Shares of CHWY stock opened at $21.54 on Wednesday. Chewy has a 12 month low of $14.69 and a 12 month high of $40.78. The firm has a market capitalization of $9.37 billion, a P/E ratio of 269.28, a P/E/G ratio of 8.62 and a beta of 0.91. The company’s fifty day moving average price is $16.42 and its two-hundred day moving average price is $18.25.

Chewy (NYSE:CHWYGet Free Report) last issued its quarterly earnings data on Wednesday, May 29th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.11. Chewy had a net margin of 0.33% and a return on equity of 11.69%. The firm had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.85 billion. On average, sell-side analysts anticipate that Chewy will post 0.08 EPS for the current year.

Insider Transactions at Chewy

In related news, CTO Satish Mehta sold 8,019 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $15.12, for a total transaction of $121,247.28. Following the completion of the sale, the chief technology officer now directly owns 569,594 shares of the company’s stock, valued at $8,612,261.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Sumit Singh sold 46,090 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $15.12, for a total value of $696,880.80. Following the completion of the sale, the chief executive officer now owns 1,379,100 shares in the company, valued at approximately $20,851,992. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Satish Mehta sold 8,019 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $15.12, for a total transaction of $121,247.28. Following the completion of the sale, the chief technology officer now owns 569,594 shares of the company’s stock, valued at approximately $8,612,261.28. The disclosure for this sale can be found here. In the last three months, insiders sold 69,993 shares of company stock valued at $1,067,363. Company insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Headinvest LLC acquired a new position in shares of Chewy during the 3rd quarter worth $39,000. Quest Partners LLC bought a new stake in shares of Chewy during the 4th quarter worth $65,000. Future Financial Wealth Managment LLC bought a new stake in shares of Chewy during the 1st quarter worth $65,000. EntryPoint Capital LLC boosted its holdings in shares of Chewy by 18.0% during the 1st quarter. EntryPoint Capital LLC now owns 4,066 shares of the company’s stock worth $65,000 after buying an additional 619 shares during the period. Finally, Signaturefd LLC boosted its holdings in shares of Chewy by 37.8% during the 4th quarter. Signaturefd LLC now owns 3,358 shares of the company’s stock worth $79,000 after buying an additional 922 shares during the period. Institutional investors and hedge funds own 93.09% of the company’s stock.

About Chewy

(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.

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Analyst Recommendations for Chewy (NYSE:CHWY)

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