|Bid||0.00 x 900|
|Ask||0.00 x 800|
|Day's Range||26.29 - 27.81|
|52 Week Range||26.29 - 41.34|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Earnings Date||Sep 17, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||36.40|
(Bloomberg) -- Chewy Inc. fell as some investors wanted to see a bigger sales beat and higher forecast boost from the online pet retailer.“We think the market is still trying to determine Chewy’s ‘true’ earnings potential, as initial expectations may have been for more pronounced upside,” Jefferies analyst Brent Thill wrote in a note.Analysts were generally bullish on Chewy’s fundamentals following the earnings release, which was just the second quarterly financial update since the company’s initial public offering in June. However, with the stock up 38% since its debut, opinions are mixed on its valuation.Chewy shares tumbled as much as 8.1% Wednesday to $27.79, the lowest the stock has touched since shares were priced at $22 on June 13.Here’s what analysts had to say after the report:Wells Fargo, Brian FitzgeraldFitzgerald continues to view Chewy as a “premium e-commerce asset deserving of a premium valuation.”Key positives from the quarter included: autoship customer sales growth of nearly 49%; gross margin improvements, driven by better product margin, supply chain efficiencies, and new higher-margin products; and the data management platform launch.Ebitda margin performance was the key negative in the quarter. “Despite noted gross margin tailwinds and an increase in full-year revenue guidance, Ebitda margin outlook remained largely unchanged.”Maintains outperform, price target $40.Jefferies, Brent Thill“All signs point to continued beat and raise quarters.”Gross margin, which was about 100 basis points above analyst estimates, was “a bright spot.” Thill said progression here “could indicate a shorter than expected pathway to profitability.”That said, Thill remains “mindful of operating losses and presence of larger-scale competitors,” including Amazon.com, Walmart Inc., and Target Corp. Valuation is also keeping him back from becoming “more constructive” on the name. He has a hold rating and cut his price target to $34 from $36 due to lower valuation across peers.What Bloomberg Intelligence says:“Despite heightened competition in 2Q from Amazon Prime Day and other holidays, Chewy remains able to grow, with Autoship sales accelerating faster than the total and now at 69% penetration. Chewy will likely exceed its full-year sales-growth outlook of 35-36%, in our view.”--Seema Shah, senior consumer discretionary analyst\--Click here to see the researchMorgan Stanley, Brian NowakChewy’s revised revenue and adjusted Ebitda forecasts are 1% and 12% above Nowak’s previous estimates at the top end, which “highlight why we like its position as the online leader in the staple-like pet space.”“The one point to pick at” was SG&A, which was $14 million higher than expected due to a fulfillment center launch and higher public company costs, the analyst said. “Given the size of this line item (17% of revenue) it will be important to monitor this.”Nowak maintains his equal-weight rating given valuation. He believes Chewy will have to accelerate net buyer additions and/or show that some of its “blue sky opportunities (healthcare, services, etc) are starting to meaningfully contribute in order to sustain” the current multiple. His price target remains $34.RBC, Mark Mahaney“Fundamental trends were largely neutral, with revenue growth decelerating 2 points to 43% y/y, gross margins solidly expanding 301 basis points y/y and Ebitda loss improving $24 million y/y but worsening $13 million q/q.”Rates sector perform(Updates with regular session stock activity in the fourth graph)To contact the reporter on this story: Janet Freund in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Catherine Larkin at email@example.com, Morwenna ConiamFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Chewy, Inc. (NYSE: CHWY) (“Chewy”), a trusted online destination for pet parents, has released its financial results for the second quarter of fiscal year 2019 ended August 4, 2019, and posted a letter to its shareholders on its investor relations website at https://investor.chewy.com. “We are pleased to report strong second quarter 2019 results with net sales growing 43 percent year-over-year, and gross margin increasing 300 basis points over the same time horizon,” said Sumit Singh, Chief Executive Officer of Chewy. Management will host a conference call and webcast to discuss Chewy's financial results today at 5:00 pm ET.
NEW YORK, NY / ACCESSWIRE / September 17, 2019 / Chewy Inc - Ordinary Shares - Class A (NYSE: CHWY ) will be discussing their earnings results in their 2019 Second Quarter Earnings to be held on September ...
Investors will turn their attention to Washington this week, as the Federal Open Market Committee gears up for its two-day meeting and representatives from big tech companies head to Capitol Hill to testify.
Chewy, Inc. (NYSE: CHWY), a trusted online destination for pets and pet parents, announced today the appointment of Brian McAndrews and David Leland to the company’s board of directors. McAndrews and Leland bring deep expertise to the board’s existing nine members including extensive leadership in the retail, e-commerce and financial sectors. Brian McAndrews is a board member and advisor to several category leaders, including his current roles as chairman for GrubHub, Amplero, PicMonkey, and United Way of King County.
Chewy, Inc. , a trusted online destination for pets and pet parents, today announced it will report fiscal second quarter 2019 financial results after the market close on Tuesday, September 17, 2019.
Ryan Cohen, founder and former CEO of Chewy, argues that any comparison of his company to Pets.com, the poster-child of the dot-com bubble, is "crazy."
Chewy's commitment to delighting its customers makes this pet e-tailer a rare breed and gives it a competitive advantage.
On Thursday, pet retailer Chewy (CHWY) reported its first-quarter results after the market closed. The company reported its earnings for the first time.
U.S. stocks turned positive in afternoon trading on Thursday as corporate earnings continue to roll in, with trade and growth concerns lingering in the background.