Chewy Shares Are Getting Chewed Up And Spit Out Thursday: What's Going On?

Chewy Inc CHWY shares are trading lower Thursday after the company reported fourth-quarter financial results. Multiple analysts lowered price targets on the stock following the print.

• Q4 Revenue: $2.71 billion beat estimates of $2.64 billion
• Q4 EPS: 1 cent beat estimates for a loss of 11 cents

Fourth-quarter revenue increased 13.4% year-over-year, while gross margins grew to 28.1%. 

"Against the backdrop of a rapidly changing operating and economic environment, Chewy produced record-high revenue, profitability, and free cash flow," said Sumit Singh, CEO of Chewy.

"Chewy's disciplined execution and dedication to serving pet parents and partners with a widening ecosystem of offerings led to another year of market share gains in the pet category, which continues to demonstrate its resilience in the present environment."

Analyst Changes:

• Barclays analyst Trevor Young maintained Chewy with an Equal-Weight and lowered the price target from $35 to $33.
• Needham analyst Anna Andreeva reiterated Chewy with a Buy and a $55 price target.
• Deutsche Bank analyst Lee Horowitz downgraded Chewy from Buy to Hold and lowered the price target from $41 to $35.

Related Link: Chewy Gets Price Targets Cuts By Analysts After Q4 Results

CHWY Price Action: Chewy has a 52-week high of $52.88 and a 52-week low of $22.23.

The stock was down 6.22% at $35.38 at the time of writing, according to Benzinga Pro.

Photo: Radovan Zierik from Pixabay.