Chewy Posts In-Line Q2 Earnings: Pet Parents Cut Treats, Not Necessities
Chewy Q2 sales rose 7.3% to $3.33B; guidance raised. Analysts cited weak discretionary demand and a mixed outlook.
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Morgan Stanley Maintains Overweight on Chewy, Lowers Price Target to $36
Morgan Stanley analyst Lauren Schenk maintains Chewy (NYSE:CHWY) with a Overweight and lowers the price target from $37 to $36.
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Is Chewy a Buy After Its Latest Earnings Report?
Chewy stock fell 11% despite meeting Q2 earnings expectations and raising full-year guidance, as management signaled weak consumer demand for premium pet products and add-on purchases. The company's growth has slowed significantly from its pandemic-era boom, and it now resembles a mature consumer staples business rather than a high-growth disruptor. The analyst recommends avoiding the stock until it demonstrates faster organic growth.
RBC Capital Maintains Outperform on Chewy, Lowers Price Target to $31
RBC Capital analyst Steven Shemesh maintains Chewy (NYSE:CHWY) with a Outperform and lowers the price target from $34 to $31.