Market Analysts see Chewy Inc. [CHWY] gaining to $44. Time to buy?

Chewy Inc. [NYSE: CHWY] loss -2.45% or -1.01 points to close at $40.25 with a heavy trading volume of 2987384 shares. The company report on August 9, 2022 that Chewy Announces Fiscal Second Quarter 2022 Financial Results Conference Call.


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Chewy, Inc. (NYSE: CHWY) (“Chewy”), a trusted destination for pet parents and partners everywhere, today announced it will report fiscal second quarter 2022 financial results after the market close on Tuesday, August 30, 2022. Management will host a conference call and webcast to discuss the company’s financial results at 5:00 pm ET.

Chewy Fiscal Second Quarter 2022 Financial Results Conference CallWhen: Tuesday, August 30, 2022Time: 5:00 pm ETConference ID: 768411Live Call: 1-844-200-6205 (US Toll-Free), 1-646-904-5544 (US Local), or +1-929-526-1599 (International)Replay: 1-866-813-9403 (US Toll-Free), 1-929-458-6194 (US Local)Replay Access Code: 501079(The replay will be available approximately two hours after the completion of the live call until 11:59 pm ET on September 6, 2022)Webcast: https://investor.chewy.com.

It opened the trading session at $41.29, the shares rose to $41.79 and dropped to $40.21, the range by which the price of stock traded the whole day. The daily chart for CHWY points out that the company has recorded 4.71% gains over the past six months. However, it is still -81.14% lower than its most recent low trading price.

If we look at the average trading volume of 5.91M shares, CHWY reached to a volume of 2987384 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $44.83 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 2.20. 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.

Wedbush have made an estimate for Chewy Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on July 26, 2022. The new note on the price target was released on June 27, 2022, representing the official price target for Chewy Inc. stock. Previously, the target price had yet another raise from $30 to $35, while Wedbush kept a Outperform rating on CHWY stock.

The Average True Range (ATR) for Chewy Inc. is set at 2.76, with the Price to Sales ratio for CHWY stock in the period of the last 12 months amounting to 1.98. The Price to Book ratio for the last quarter was 287.50, with the Price to Cash per share for the same quarter was set at 1.34.

Trading performance analysis for CHWY stock

Chewy Inc. [CHWY] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -16.58. With this latest performance, CHWY shares gained by 4.82% in over the last four-week period, additionally plugging by 4.71% over the last 6 months – not to mention a drop of -56.30% 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 41.55, with the RSI for the last a single of trading hit 33.06, and the three-weeks RSI is set at 46.44 for Chewy Inc. [CHWY]. The present Moving Average for the last 50 days of trading for this stock 40.77, while it was recorded at 42.29 for the last single week of trading, and 44.39 for the last 200 days.

Chewy Inc. [CHWY]: A deeper dive into fundamental analysis

Chewy Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.50 and a Current Ratio set at 0.80.

An analysis of insider ownership at Chewy Inc. [CHWY]

There are presently around $16,831 million, in the hands of institutional investors. The top three institutional holders of CHWY stocks are: BC PARTNERS ADVISORS L.P. with ownership of 311,852,395, which is approximately 0.205% of the company’s market cap and around 3.20% of the total institutional ownership; MORGAN STANLEY, holding 20,967,633 shares of the stock with an approximate value of $843.95 million in CHWY stocks shares; and BAILLIE GIFFORD & CO, currently with $665.46 million in CHWY stock with ownership of nearly 30.508% of the company’s market capitalization.

Positions in Chewy Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 195 institutional holders increased their position in Chewy Inc. [NYSE:CHWY] by around 20,622,429 shares. Additionally, 191 investors decreased positions by around 18,391,303 shares, while 65 investors held positions by with 379,137,563 shares. The mentioned changes placed institutional holdings at 418,151,295 shares, according to the latest SEC report filing. CHWY stock had 65 new institutional investments in for a total of 6,588,112 shares, while 82 institutional investors sold positions of 4,434,776 shares during the same period.

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