Chewy saw its 2Q revenues soar 47% to $1.70 billion year-over-year, as the pet product retailer managed to attract demand during the pandemic. The company’s quarterly sales surpassed analysts’ expectations of $1.64 billion.
See CHWY stock analysis on TipRanks).” data-reactid=”13″>Despite upbeat 2Q performance, shares of Chewy fell 2.7% in the extended trading session on Thursday. According to a CNBC report, investors were unimpressed with the company’s lower-than-expected net sales per active customer data. Net sales per active customer amounted to $356 in the reported quarter while analysts were expecting $365. (See CHWY stock analysis on TipRanks).
CHWY) posted an adjusted EPS of $0.01, which compared favorably with the year-ago quarter’s loss of $0.10 as well as the Street consensus of a loss of $0.15.” data-reactid=”14″>Chewy (CHWY) posted an adjusted EPS of $0.01, which compared favorably with the year-ago quarter’s loss of $0.10 as well as the Street consensus of a loss of $0.15.
Furthermore, the company raised its full-year 2020 revenue guidance range to $6.775-$6.825 billion from the earlier projection of $6.55-$6.65 billion. For 3Q, the pet product retailer anticipates revenues between $1.70 billion and $1.72 billion.
Deepak Mathivanan raised the stock’s price target on September 8 to $55 (7.9% downside potential) and reiterated a Hold rating. Citing continued strength in online spending on pet products, Mathivanan had expected the company would surpass its 2Q guidance.” data-reactid=”20″>Ahead of the earnings, Barclays analyst Deepak Mathivanan raised the stock’s price target on September 8 to $55 (7.9% downside potential) and reiterated a Hold rating. Citing continued strength in online spending on pet products, Mathivanan had expected the company would surpass its 2Q guidance.
price target of $60.88 implies modest upside potential of about 2% to current levels.” data-reactid=”21″>Currently, the Street has a cautiously optimistic outlook on the stock. The Moderate Buy analyst consensus is based on 7 Buys and 3 Holds. With shares up nearly 106% year-to-date, the average price target of $60.88 implies modest upside potential of about 2% to current levels.
RH Soars 17% As 2Q Profit Surprises
GameStop Sinks 15% In Pre-Market On 2Q Miss
Goldman Upgrades Sanderson To Buy, Lifts PT On Valuation” data-reactid=”30″>Related News:
RH Soars 17% As 2Q Profit Surprises
GameStop Sinks 15% In Pre-Market On 2Q Miss
Goldman Upgrades Sanderson To Buy, Lifts PT On Valuation
More recent articles from Smarter Analyst:
