Chewy's NYSE: CHWY stock price has struggled since the peaks set in 2020 because it could not sustain the wicked-hot growth pace driven by pandemic spending and stimulus measures. Today's takeaway is that the market for Chewy stock has normalized, and its business turned a corner in the first half of the year, setting it up to complete a technical reversal that will lead to a sustained rally.
While the top- and bottom-line numbers for Chewy (CHWY) give a sense of how the business performed in the quarter ended July 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Chewy stock appears ready for a pandemic-like rally as sales per customer continue to grow. Has the company finally unlocked its operating leverage?
Chewy (CHWY) shares surged Wednesday as the online pet supplies retailer posted a much better-than-expected profit as it set a record for customer spending.
Chewy (CHWY) came out with quarterly earnings of $0.24 per share, beating the Zacks Consensus Estimate of $0.22 per share. This compares to earnings of $0.15 per share a year ago.
The online seller of pet goods saw the value of sales per customer rise.
Chewy offers investors numerous higher-margin growth opportunities. Anna Andreeva with Piper Sandler believes these revenue streams could continue boosting profitability.
On Friday, analysts at Piper Sandler's upgraded Chewy (NYSE: CHWY) to an Overweight rating with a raised price target of $35, up from $22, in a strong vote of confidence in the online pet retailer's prospects. This 31% potential upside reflects the firm's belief that Chewy is at a critical inflection point in its profitability.
Recently, Zacks.com users have been paying close attention to Chewy (CHWY). This makes it worthwhile to examine what the stock has in store.
One of our top stock picks for 2024 , Chewy Inc (NYSE:CHWY) is set to report earnings before the open on Wednesday, Aug. 28.
Chewy's (CHWY) strategic focus on expanding its product offerings and enhancing customer experience is likely to have favorably impacted second-quarter earnings.
Chewy (CHWY) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.