Rosenblatt Securities Cuts Chewy (NYSE:CHWY) Price Target to $24.00

Chewy (NYSE:CHWY) had its price objective decreased by Rosenblatt Securities from $25.00 to $24.00 in a report released on Thursday,Benzinga reports. Rosenblatt Securities currently has a neutral rating on the stock.

A number of other analysts have also recently weighed in on the stock. Moffett Nathanson set a $28.00 price objective on shares of Chewy in a research note on Thursday, June 11th. Citizens Jmp lowered their target price on shares of Chewy from $45.00 to $28.00 and set a “market outperform” rating on the stock in a research note on Thursday, June 11th. Raymond James Financial lifted their target price on shares of Chewy from $25.00 to $28.00 and gave the stock an “outperform” rating in a report on Friday, September 4th. Zacks Research upgraded shares of Chewy from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $34.00 target price on shares of Chewy in a research report on Wednesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.64.

Chewy Stock Down 3.5%

CHWY opened at $20.33 on Thursday. The business has a 50 day moving average price of $22.43 and a 200 day moving average price of $23.07. Chewy has a twelve month low of $17.40 and a twelve month high of $40.55. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.35 and a current ratio of 0.84. The firm has a market cap of $8.32 billion, a P/E ratio of 30.81, a price-to-earnings-growth ratio of 0.81 and a beta of 1.42.

Chewy (NYSE:CHWY) last announced its earnings results on Wednesday, September 9th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.18. Chewy had a return on equity of 60.88% and a net margin of 2.09%.The firm had revenue of $3.33 billion during the quarter, compared to analysts’ expectations of $3.32 billion. During the same quarter in the prior year, the business earned $0.33 earnings per share. The company’s revenue was up 7.3% on a year-over-year basis. Research analysts forecast that Chewy will post 0.8 EPS for the current year.

Insider Activity at Chewy

In other news, General Counsel Da-Wai Hu sold 4,203 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $19.49, for a total transaction of $81,916.47. Following the completion of the transaction, the general counsel directly owned 4,103 shares in the company, valued at $79,967.47. The trade was a 50.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.34% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Chewy

Several hedge funds and other institutional investors have recently modified their holdings of CHWY. Wellington Management Group LLP increased its position in Chewy by 295.9% during the third quarter. Wellington Management Group LLP now owns 17,622,768 shares of the company’s stock worth $712,841,000 after acquiring an additional 13,171,325 shares during the period. Viking Global Investors LP boosted its holdings in Chewy by 146.9% in the 4th quarter. Viking Global Investors LP now owns 13,536,645 shares of the company’s stock valued at $447,386,000 after purchasing an additional 8,052,955 shares during the period. AQR Capital Management LLC boosted its holdings in Chewy by 10.0% in the 4th quarter. AQR Capital Management LLC now owns 11,218,840 shares of the company’s stock valued at $370,558,000 after purchasing an additional 1,022,694 shares during the period. Morgan Stanley grew its position in Chewy by 33.8% in the 4th quarter. Morgan Stanley now owns 7,660,258 shares of the company’s stock worth $253,172,000 after purchasing an additional 1,937,014 shares during the last quarter. Finally, State Street Corp grew its position in Chewy by 3.0% in the 4th quarter. State Street Corp now owns 6,655,547 shares of the company’s stock worth $219,966,000 after purchasing an additional 193,947 shares during the last quarter. Institutional investors and hedge funds own 93.09% of the company’s stock.

Chewy News Roundup

Here are the key news stories impacting Chewy this week:

• Positive Sentiment: Chewy reported second-quarter revenue of $3.33 billion, up approximately 7.3% year over year, while adjusted earnings of $0.36 per share exceeded the consensus estimate of $0.18. Management also raised its fiscal 2026 outlook. CHWY Q2 Earnings Meet Estimates, Sales Beat on Customer Growth
• Positive Sentiment: Autoship sales reached about $2.8 billion, supported by customer growth and stable demand for essential pet products. Cost discipline and AI-related efficiencies are also helping profitability. Chewy Q2 Earnings Call Highlights Stable Demand and Higher Outlook
• Positive Sentiment: Chewy’s Autoship subscription model and expansion into veterinary care, including its health-platform strategy, could create more recurring revenue and diversify the company beyond pet food and supplies. Chewy Is Building a Recurring Revenue Moat

About Chewy

Chewy, Inc is an e-commerce company focused on pet products and services. Through its website and mobile applications, the company sells pet food, treats, supplies, toys, bedding, medications, and other products for dogs, cats, fish, birds, reptiles, and small pets.

Chewy supports recurring purchases through its Autoship program and provides access to prescription and over-the-counter pet medications through Chewy Pharmacy. The company also offers pet health-related services, including veterinary consultations in certain markets, and sells products under a range of national and private-label brands.