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.
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