Why Chewy Stock Is Trading Lower

Chewy Inc CHWY is trading lower Wednesday after the company reported worse-than-expected top-line financial results. 

Chewy said fourth-quarter revenue increased 17% year-over-year to $2.39 billion, which came in below the $2.42 billion estimate. The company reported a quarterly net loss of $63.6 million.

Analyst Assessment: Several analyst firms lowered price targets on the stock following Chewy's quarterly results.

• RBC Capital analyst Steven Shemesh maintained Chewy with an Outperform rating and lowered the price target from $77 to $73.
• Barclays analyst Trevor Young maintained Chewy with an Equal-Weight rating and lowered the price target from $43 to $41.
• Citigroup analyst Steven Zaccone maintained Chewy with a Neutral rating and lowered the price target from $48 to $45.
• Morgan Stanley maintained Chewy with an Equal-Weight rating and lowered the price target from $68 to $62.
• Wedbush analyst Seth Basham maintained Chewy with a Neutral rating and lowered the price target from $55 to $45.
• Jefferies analyst Stephanie Wissink maintained Chewy with a Buy rating and lowered the price target from $90 to $60.

CHWY 52-Week Range: $35.59 - $97.74

The stock was down 14.1% at $43.82 at time of publication, according to data from Benzinga Pro.

Photo: mattycoulton from Pixabay.