Oppenheimer slashes price target on Chewy Inc. [CHWY] – find out why.

Chewy Inc. [NYSE: CHWY] gained 0.55% or 0.22 points to close at $40.01 with a heavy trading volume of 3083860 shares. The company report on October 20, 2022 that Chewy Expands CarePlus with New Lemonade Pet Partnership.


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Chewy, Inc. (“Chewy”) (NYSE: CHWY), a trusted destination for pet parents and partners everywhere, is expanding CarePlus, its exclusive suite of insurance and wellness offerings, with new plans provided by Lemonade Pet, Lemonade’s (NYSE: LMND) highly-rated pet health insurance product.

It opened the trading session at $39.06, the shares rose to $41.84 and dropped to $38.82, the range by which the price of stock traded the whole day. The daily chart for CHWY points out that the company has recorded 29.82% gains over the past six months. However, it is still -80.06% lower than its most recent low trading price.

If we look at the average trading volume of 4.39M shares, CHWY reached to a volume of 3083860 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 $45.27 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.

Oppenheimer have made an estimate for Chewy Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on October 07, 2022. The new note on the price target was released on July 26, 2022, representing the official price target for Chewy Inc. stock. Previously, the target price had yet another raise to $55, while Needham analysts kept a Buy rating on CHWY stock. On June 21, 2022, analysts increased their price target for CHWY shares from 30 to 35.

The Average True Range (ATR) for Chewy Inc. is set at 2.56, with the Price to Sales ratio for CHWY stock in the period of the last 12 months amounting to 1.67. The Price to Book ratio for the last quarter was 142.89, with the Price to Cash per share for the same quarter was set at 1.54.

Trading performance analysis for CHWY stock

Chewy Inc. [CHWY] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 14.84. With this latest performance, CHWY shares gained by 22.39% in over the last four-week period, additionally plugging by 29.82% over the last 6 months – not to mention a drop of -41.15% 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 61.58, with the RSI for the last a single of trading hit 67.29, and the three-weeks RSI is set at 57.73 for Chewy Inc. [CHWY]. The present Moving Average for the last 50 days of trading for this stock 36.07, while it was recorded at 38.04 for the last single week of trading, and 38.39 for the last 200 days.

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

Operating Margin for any stock indicates how profitable investing would be, and Chewy Inc. [CHWY] shares currently have an operating margin of -0.81 and a Gross Margin at +26.08. Chewy Inc.’s Net Margin is presently recorded at -0.83.

Return on Equity for this stock declined to -1,159.55, with Return on Assets sitting at -3.70.

Chewy Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.40 and a Current Ratio set at 0.80.

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

There are presently around $16,731 million, or 99.80% 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 311,852,395, which is approximately 0.205% of the company’s market cap and around 2.90% of the total institutional ownership; MORGAN STANLEY, holding 20,967,633 shares of the stock with an approximate value of $838.91 million in CHWY stocks shares; and BAILLIE GIFFORD & CO, currently with $661.5 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 201 institutional holders increased their position in Chewy Inc. [NYSE:CHWY] by around 20,780,042 shares. Additionally, 168 investors decreased positions by around 18,083,783 shares, while 64 investors held positions by with 379,295,121 shares. The mentioned changes placed institutional holdings at 418,158,946 shares, according to the latest SEC report filing. CHWY stock had 64 new institutional investments in for a total of 6,516,744 shares, while 68 institutional investors sold positions of 4,311,857 shares during the same period.

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