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

Chewy Inc. [NYSE: CHWY] closed the trading session at $41.20 on 12/21/22. The day’s price range saw the stock hit a low of $39.465, while the highest price level was $42.03. The company report on December 8, 2022 that Chewy Announces Third Quarter 2022 Financial Results.


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Chewy, Inc. (NYSE: CHWY) (“Chewy”), a trusted destination for pet parents and partners everywhere, has released its financial results for the third quarter of fiscal year 2022 ended October 30, 2022, and posted a letter to its shareholders on its investor relations website at https://investor.chewy.com.

The stocks have a year to date performance of -30.13 percent and weekly performance of -3.85 percent. The stock has been moved at 12.41 percent over the last six months. The stock has performed -0.46 percent around the most recent 30 days and changed 30.38 percent over the most recent 3-months.

If compared to the average trading volume of 3.94M shares, CHWY reached to a volume of 2628902 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 $47.74 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 2.30. 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.

Wolfe Research have made an estimate for Chewy Inc. shares, keeping their opinion on the stock as Peer Perform, with their previous recommendation back on December 07, 2022. While these analysts kept the previous recommendation, MoffettNathanson raised their target price to Market Perform. The new note on the price target was released on November 15, 2022, representing the official price target for Chewy Inc. stock. Previously, the target price had yet another raise to $42, while Oppenheimer analysts kept a Outperform rating on CHWY stock.

The Average True Range (ATR) for Chewy Inc. is set at 2.64, with the Price to Sales ratio for CHWY stock in the period of the last 12 months amounting to 1.72. The Price to Book ratio for the last quarter was 105.64, with the Price to Cash per share for the same quarter was set at 1.65.

CHWY stock trade performance evaluation

Chewy Inc. [CHWY] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.85. With this latest performance, CHWY shares dropped by -0.46% in over the last four-week period, additionally plugging by 12.41% over the last 6 months – not to mention a drop of -25.39% 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 49.61, with the RSI for the last a single of trading hit 47.39, and the three-weeks RSI is set at 50.99 for Chewy Inc. [CHWY]. The present Moving Average for the last 50 days of trading for this stock 39.65, while it was recorded at 40.94 for the last single week of trading, and 37.42 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 -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 0.50 and a Current Ratio set at 0.90.

Chewy Inc. [CHWY]: Insider Ownership positions

There are presently around $17,257 million, or 99.60% 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% of the company’s market cap and around 2.30% of the total institutional ownership; MORGAN STANLEY, holding 20,546,861 shares of the stock with an approximate value of $846.53 million in CHWY stocks shares; and BAILLIE GIFFORD & CO, currently with $684.85 million in CHWY stock with ownership of nearly 0.54% of the company’s market capitalization.

Positions in Chewy Inc. stocks held by institutional investors increased at the end of December and at the time of the December reporting period, where 178 institutional holders increased their position in Chewy Inc. [NYSE:CHWY] by around 10,245,296 shares. Additionally, 166 investors decreased positions by around 9,095,968 shares, while 69 investors held positions by with 399,511,294 shares. The mentioned changes placed institutional holdings at 418,852,558 shares, according to the latest SEC report filing. CHWY stock had 51 new institutional investments in for a total of 2,268,360 shares, while 52 institutional investors sold positions of 3,504,159 shares during the same period.

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