Stock Market News

Chewy Stumbles Following Wedbush Downgrade

2022.07.26 22:54

Chewy Stumbles Following Wedbush Downgrade
Chewy (CHWY) Stumbles Following Wedbush Downgrade

By Michael Elkins

A Wedbush analyst downgraded Chewy Inc. (NYSE:CHWY) from Outperform to Neutral, sending the shares down over 8% near end of trading Tuesday. The analyst believes that, while CHWY’s current valuation is slightly less than a turn below its historical median, Wedbush sees more downside risk to shares after the latest run.

In a previous report, Wedbush highlighted a modest risk to consensus net customer additions. However, they believed that the risk was offset by potential for net spending per average customer. But the analyst says that this risk is growing and forecasts just 2% active customer growth for FY22 (vs. consensus’ +4%).

Wedbush increased CHWY’s price target to $44.00 (from $35.00) to reflect CHWY’s elevated valuation but sees limited upside from here.

Shares of Chewy Inc. closed at $41.75 yesterday.

Source

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 69,368.59 1.13%
ethereum
Ethereum (ETH) $ 2,485.81 1.55%
tether
Tether (USDT) $ 0.99979 0.03%
bnb
BNB (BNB) $ 567.12 1.65%
solana
Solana (SOL) $ 163.97 1.28%
usd-coin
USDC (USDC) $ 1.00 0.01%
xrp
XRP (XRP) $ 0.510369 1.74%
staked-ether
Lido Staked Ether (STETH) $ 2,484.05 1.54%
dogecoin
Dogecoin (DOGE) $ 0.157528 2.67%
tron
TRON (TRX) $ 0.166213 0.36%
cardano
Cardano (ADA) $ 0.35281 1.06%
the-open-network
Toncoin (TON) $ 4.88 1.06%
wrapped-steth
Wrapped stETH (WSTETH) $ 2,942.39 1.52%
shiba-inu
Shiba Inu (SHIB) $ 0.000017 1.61%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 69,297.57 1.33%
avalanche-2
Avalanche (AVAX) $ 24.23 3.41%
weth
WETH (WETH) $ 2,484.31 1.49%
chainlink
Chainlink (LINK) $ 11.17 2.68%
bitcoin-cash
Bitcoin Cash (BCH) $ 343.98 1.95%
usds
USDS (USDS) $ 1.00 0.62%
leo-token
LEO Token (LEO) $ 6.08 0.17%
polkadot
Polkadot (DOT) $ 3.86 1.76%
sui
Sui (SUI) $ 1.91 3.49%
litecoin
Litecoin (LTC) $ 69.58 1.11%
near
NEAR Protocol (NEAR) $ 3.88 3.31%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,613.62 1.50%
aptos
Aptos (APT) $ 8.62 3.01%
uniswap
Uniswap (UNI) $ 7.33 6.46%
pepe
Pepe (PEPE) $ 0.000009 3.76%
internet-computer
Internet Computer (ICP) $ 7.63 3.39%
dai
Dai (DAI) $ 1.00 0.09%
bittensor
Bittensor (TAO) $ 433.99 6.87%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.18 6.21%
monero
Monero (XMR) $ 154.55 0.14%
kaspa
Kaspa (KAS) $ 0.112562 4.06%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.07%
stellar
Stellar (XLM) $ 0.091933 1.23%
whitebit
WhiteBIT Coin (WBT) $ 18.92 0.94%
ethereum-classic
Ethereum Classic (ETC) $ 18.06 3.24%
first-digital-usd
First Digital USD (FDUSD) $ 0.998843 0.56%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.313724 1.70%
blockstack
Stacks (STX) $ 1.57 2.57%
okb
OKB (OKB) $ 37.82 1.65%
dogwifcoin
dogwifhat (WIF) $ 2.15 6.66%
aave
Aave (AAVE) $ 137.76 3.88%
filecoin
Filecoin (FIL) $ 3.42 1.96%
arbitrum
Arbitrum (ARB) $ 0.509342 3.87%
crypto-com-chain
Cronos (CRO) $ 0.072241 0.77%
mantle
Mantle (MNT) $ 0.570783 1.49%
celestia
Celestia (TIA) $ 4.64 0.16%