Chewy (NYSE:CHWY) Issues Quarterly Earnings Results, Beats Expectations By $0.15 EPS

Chewy (NYSE:CHWY) announced its quarterly earnings results on Wednesday. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.15, Briefing.com reports. The company had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.86 billion. Chewy had a return on equity of 21.00% and a net margin of 3.20%. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.08) EPS. Chewy updated its Q4 2024 guidance to EPS and its FY 2024 guidance to EPS.

Chewy Price Performance

Chewy stock opened at $31.07 on Friday. The business has a 50 day simple moving average of $30.42 and a 200 day simple moving average of $27.06. Chewy has a one year low of $14.69 and a one year high of $39.10. The company has a market capitalization of $12.99 billion, a PE ratio of 37.88, a price-to-earnings-growth ratio of 3.15 and a beta of 1.12.

Analyst Upgrades and Downgrades

CHWY has been the subject of a number of research analyst reports. Morgan Stanley upped their price target on shares of Chewy from $33.00 to $36.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Bank of America upgraded Chewy from an “underperform” rating to a “buy” rating and lifted their price target for the company from $24.00 to $40.00 in a research report on Wednesday, November 20th. UBS Group lifted their target price on Chewy from $30.00 to $34.00 and gave the stock a “neutral” rating in a report on Tuesday. Raymond James downgraded shares of Chewy from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 21st. Finally, Royal Bank of Canada increased their target price on shares of Chewy from $39.00 to $42.00 and gave the company an “outperform” rating in a research note on Thursday. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $34.15.

Insiders Place Their Bets

In other news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $29.40, for a total transaction of $36,750,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Satish Mehta sold 8,056 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $33.47, for a total value of $269,634.32. Following the completion of the sale, the chief technology officer now owns 585,962 shares of the company’s stock, valued at approximately $19,612,148.14. This trade represents a 1.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,128,804 shares of company stock worth $827,019,626 over the last three months. 2.10% of the stock is currently owned by corporate insiders.

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.