Chewy (NYSE:CHWY) Shares Down 8.8%

Chewy, Inc. (NYSE:CHWY – Get Rating) traded down 8.8% during mid-day trading on Wednesday . The company traded as low as $25.13 and last traded at $25.22. 90,227 shares changed hands during mid-day trading, a decline of 98% from the average session volume of 5,058,882 shares. The stock had previously closed at $27.65.

A number of analysts have issued reports on the stock. Royal Bank of Canada reduced their target price on shares of Chewy from $77.00 to $73.00 and set an “outperform” rating for the company in a research note on Wednesday, March 30th. The Goldman Sachs Group reduced their price objective on shares of Chewy from $70.00 to $59.00 and set a “neutral” rating for the company in a research note on Thursday, March 31st. Morgan Stanley reduced their price objective on shares of Chewy from $68.00 to $62.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 30th. Barclays reduced their price objective on shares of Chewy from $43.00 to $41.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 30th. Finally, Zacks Investment Research upgraded shares of Chewy from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 30th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Chewy has an average rating of “Buy” and an average target price of $74.62.

The company has a market capitalization of $10.33 billion, a price-to-earnings ratio of -140.49 and a beta of 0.75. The business’s 50-day simple moving average is $37.75 and its 200-day simple moving average is $49.21.

Chewy (NYSE:CHWY – Get Rating) last announced its quarterly earnings results on Tuesday, March 29th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.04). The firm had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.42 billion. Chewy had a negative net margin of 0.83% and a negative return on equity of 131.33%. The business’s revenue was up 16.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.05 earnings per share. As a group, research analysts expect that Chewy, Inc. will post -0.43 earnings per share for the current year.

Several large investors have recently made changes to their positions in the stock. Gabelli Funds LLC raised its position in shares of Chewy by 17.0% in the 1st quarter. Gabelli Funds LLC now owns 9,650 shares of the company’s stock valued at $394,000 after acquiring an additional 1,400 shares during the period. Walleye Capital LLC bought a new stake in Chewy during the 1st quarter worth approximately $427,000. Wealthfront Advisers LLC bought a new stake in Chewy during the 1st quarter worth approximately $1,965,000. Weiss Multi Strategy Advisers LLC bought a new stake in Chewy during the 1st quarter worth approximately $747,000. Finally, Virtu Financial LLC bought a new stake in Chewy during the 1st quarter worth approximately $477,000.

Chewy Company Profile (NYSE:CHWY)

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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