Chewy (NYSE:CHWY) Price Target Cut to $16.00 by Analysts at Piper Sandler

Chewy (NYSE:CHWY) had its price target cut by Piper Sandler from $19.00 to $16.00 in a research note released on Tuesday, Benzinga reports. They currently have a neutral rating on the stock.

Several other research analysts have also recently weighed in on CHWY. Mizuho initiated coverage on shares of Chewy in a research report on Tuesday, March 19th. They issued a neutral rating and a $18.00 price objective on the stock. Bank of America decreased their price objective on shares of Chewy from $17.00 to $16.50 and set an underperform rating on the stock in a research report on Thursday, March 21st. Jefferies Financial Group decreased their price objective on shares of Chewy from $27.00 to $25.00 and set a buy rating on the stock in a research report on Thursday, March 21st. Royal Bank of Canada reduced their price target on shares of Chewy from $35.00 to $22.00 and set an outperform rating on the stock in a research report on Friday, March 22nd. Finally, JPMorgan Chase & Co. reduced their price target on shares of Chewy from $25.00 to $22.00 and set an overweight rating on the stock in a research report on Thursday, March 21st. One analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $27.50.

Chewy Stock Performance

Shares of NYSE:CHWY opened at $15.60 on Tuesday. Chewy has a fifty-two week low of $15.08 and a fifty-two week high of $40.78. The company has a market capitalization of $6.78 billion, a P/E ratio of 195.02, a price-to-earnings-growth ratio of 8.41 and a beta of 0.91. The company’s 50-day moving average is $16.81 and its 200 day moving average is $18.65.

Chewy (NYSE:CHWY) last announced its quarterly earnings results on Wednesday, March 20th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.09. Chewy had a net margin of 0.33% and a return on equity of 11.69%. The firm had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.79 billion. As a group, research analysts predict that Chewy will post 0.08 earnings per share for the current year.

Insider Transactions at Chewy

In related news, CEO Sumit Singh sold 6,728 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $15.53, for a total value of $104,485.84. Following the completion of the sale, the chief executive officer now owns 129,991 shares of the company’s stock, valued at $2,018,760.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CTO Satish Mehta sold 40,523 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $17.70, for a total value of $717,257.10. Following the completion of the sale, the chief technology officer now owns 557,058 shares of the company’s stock, valued at $9,859,926.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sumit Singh sold 6,728 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $15.53, for a total value of $104,485.84. Following the completion of the sale, the chief executive officer now directly owns 129,991 shares of the company’s stock, valued at approximately $2,018,760.23. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 250,169 shares of company stock worth $4,396,079. Insiders own 2.10% of the company’s stock.

Institutional Trading of Chewy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. CenterBook Partners LP purchased a new position in Chewy during the third quarter valued at $573,000. Rafferty Asset Management LLC lifted its position in Chewy by 29.9% during the third quarter. Rafferty Asset Management LLC now owns 19,677 shares of the company’s stock valued at $359,000 after buying an additional 4,524 shares during the period. Platinum Investment Management Ltd. purchased a new position in Chewy during the third quarter valued at $1,230,000. Victory Capital Management Inc. lifted its position in Chewy by 364.2% during the third quarter. Victory Capital Management Inc. now owns 57,662 shares of the company’s stock valued at $1,053,000 after buying an additional 45,240 shares during the period. Finally, Marathon Trading Investment Management LLC purchased a new position in Chewy during the third quarter valued at $1,076,000. Hedge funds and other institutional investors own 93.09% of the company’s stock.

Chewy Company Profile

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.