Chewy Inc. [CHWY] stock Initiated by Cleveland Research analyst, price target now $60

Chewy Inc. [NYSE: CHWY] surged by $4.35 during the normal trading session on Monday and reaching a high of $57.49 during the day while it closed the day at $56.84. The company report on June 18, 2020 that Chewy to Virtually Present at the Jefferies Consumer Conference.

Chewy, Inc. (NYSE: CHWY) (“Chewy”), a trusted online destination for pet parents, today announced that Sumit Singh, Chief Executive Officer, and Director, and Mario Marte, Chief Financial Officer, will virtually present at the Jefferies Consumer Conference on Tuesday, June 23, 2020 at 11:00 a.m. ET.

The presentation will be available via live audio webcast and archived replay on Chewy’s investor relations website at https://investor.chewy.com/.

Chewy Inc. stock has also gained 21.63% of its value over the past 7 days. However, CHWY stock has inclined by 44.85% in the 3 months of the year. Over the past six months meanwhile, it has gained 101.56% and gained 96.00% year-on date.

The market cap for CHWY stock reached $21.32 billion, with 401.41 million shares outstanding and 59.88 million shares in the current float. Compared to the average trading volume of 4.48M shares, CHWY reached a trading volume of 6796669 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Chewy Inc. [CHWY]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CHWY shares is $52.70 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CHWY stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Cleveland Research have made an estimate for Chewy Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 15, 2020. While these analysts kept the previous recommendation, Morgan Stanley raised their target price from $41 to $45. The new note on the price target was released on June 22, 2020, representing the official price target for Chewy Inc. stock. Previously, the target price had yet another raise from $53 to $55, while Wedbush kept a Outperform rating on CHWY stock. On June 10, 2020, analysts increased their price target for CHWY shares from 45 to 49.

The Average True Range (ATR) for Chewy Inc. is set at 2.58, with the Price to Sales ratio for CHWY stock in the period of the last 12 months amounting to 3.98.

CHWY stock trade performance evaluation

Chewy Inc. [CHWY] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 21.63. With this latest performance, CHWY shares gained by 20.73% in over the last four-week period, additionally plugging by 101.56% over the last 6 months – not to mention a rise of 74.52% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CHWY stock in for the last two-week period is set at 69.27, with the RSI for the last a single of trading hit 77.09, and the three-weeks RSI is set at 65.58 for Chewy Inc. [CHWY]. The present Moving Average for the last 50 days of trading for this stock 47.87, while it was recorded at 50.45 for the last single week of trading, and 35.09 for the last 200 days.

Chewy Inc. [CHWY]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Chewy Inc. [CHWY] shares currently have an operating margin of -5.21 and a Gross Margin at +22.60. Chewy Inc.’s Net Margin is presently recorded at -5.21.

Reflecting on the efficiency of the workforce at the company, Chewy Inc. [CHWY] managed to generate an average of -$21,031 per employee. Receivables Turnover for the company is 46.48 with a Total Asset Turnover recorded at a value of 6.58.Chewy Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.30 and a Current Ratio set at 0.60.

Earnings per share (EPS) analysis for Chewy Inc. [CHWY] stock

With the latest financial reports released by the company, Chewy Inc. posted -0.21/share EPS, while the average EPS was predicted by analysts to be reported at -0.11/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -90.90%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CHWY.

Chewy Inc. [CHWY]: Insider Ownership positions

There are presently around $22,712 million, or 81.70% of CHWY stock, in the hands of institutional investors. The top three institutional holders of CHWY stocks are: BC PARTNERS ADVISORS L.P. with ownership of 334,922,454, which is approximately -1.136% of the company’s market cap and around 7.90% of the total institutional ownership; MORGAN STANLEY, holding 13,004,412 shares of the stock with an approximate value of $739.17 million in CHWY stocks shares; and BAILLIE GIFFORD & CO, currently with $294.42 million in CHWY stock with ownership of nearly -0.936% of the company’s market capitalization.

Positions in Chewy Inc. stocks held by institutional investors increased at the end of June and at the time of the June reporting period, where 164 institutional holders increased their position in Chewy Inc. [NYSE:CHWY] by around 18,501,170 shares. Additionally, 99 investors decreased positions by around 24,535,310 shares, while 35 investors held positions by with 356,546,581 shares. The mentioned changes placed institutional holdings at 399,583,061 shares, according to the latest SEC report filing. CHWY stock had 94 new institutional investments in for a total of 10,013,263 shares, while 43 institutional investors sold positions of 10,481,081 shares during the same period.

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