Chewy Inc. (NYSE:CHWY) on Wednesday reported better-than-expected earnings for the first quarter.
The company posted adjusted earnings of 35 cents per share, up 12.9% year-over-year, beating the consensus of $34 cents and the management guidance of 30-35 cents.
The retailer of pet supplies reported sales of $3.12 billion, up 8.3% year over year, compared to the consensus of $3.08 billion and the management guidance of $3.06 billion-$3.09 billion.
For fiscal year 2025, the company expects sales of $12.30 billion-$12.45 billion compared to Wall Street estimate of $12.54 billion. The company expects a 2025 adjusted EBITDA margin of 5.4%-5.7%. Chewy's fiscal year 2024 adjusted EBITDA margin was 4.8%.
For the second quarter of 2025, Chewy expects sales of $3.06 billion-$3.09 billion compared to the consensus of $3.03 billion. The company expects second-quarter adjusted earnings of 30-35 cents per share versus a consensus of 31 cents.
Chewy shares gained 2.5% to trade at $41.79 on Thursday.
These analysts made changes to their price targets on Chewy following earnings announcement.
- JP Morgan analyst Doug Anmuth maintained Chewy with an Overweight rating and raised the price target from $36 to $47.
- Mizuho analyst David Bellinger maintained Chewy with a Neutral and lowered the price target from $47 to $44.
- Wedbush analyst Scott Devitt maintained the stock with an Outperform rating and raised the price target from $39 to $45.
- Evercore ISI Group analyst Mark Mahaney maintained Chewy with an Outperform rating and raised the price target from $47 to $52.
- Citigroup analyst Steven Zaccone maintained Chewy with a Buy and raised the price target from $42 to $49.
- Guggenheim analyst Steven Forbes maintained the stock with a Buy and raised the price target from $42 to $45.
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