|Bid||30.70 x 900|
|Ask||30.70 x 900|
|Day's Range||30.25 - 33.82|
|52 Week Range||30.25 - 41.34|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||36.70|
Online pet supply store Chewy Inc (NYSE: CHWY) on Thursday reported its first ever earnings as a public company. Raymond James' Aaron Kessler maintains a Market Perform rating on Chewy's stock. Wedbush's Seth Basham maintains at Neutral, unchanged $30 price target.
On Thursday, pet retailer Chewy (CHWY) reported its first-quarter results after the market closed. The company reported its earnings for the first time.
This most-searched list is a feature included in Benzinga Pro's Newsfeed tool. It highlights stocks frequently searched by Benzinga Pro users on the platform. Midatech Pharma PLC (NASDAQ: MTP ) shares ...
(Bloomberg) -- Chewy Inc.’s better-than-expected forecast drew positive commentary on Wall Street but wasn’t enough to shake concerns about valuation.The online pet store’s first earnings report as a public company showed it is continuing to grow at a robust pace, with sales expectations that topped analyst estimates. At the same time, a 53% run-up since the initial public offering in June has raised questions about the durability of growth and increasing competition from larger retailers.The shares rose as much as 3% in New York on Friday.Here’s what Wall Street is saying:William Blair, Dylan CardenChewy’s forecast for the second quarter and full year support upside to sales and in-line Ebitda margins.“Given the proximity to the company’s recent IPO, it is unsurprising to see performance in line with to slightly better than expectations.”William Blair sees Chewy as “uniquely levered to accelerated channel migration in the pet industry,” and expects improving margins to continue to drive the shares higher.Rates outperformRBC Capital Markets, Mark MahaneyFundamental trends were mixed in the quarter with slowing revenue growth and improving gross margins and Ebitda loss. RBC sees the 45% jump in active customers versus the prior-year period as “robust” and “a key indicator of the overall health of Chewy’s business.”Sector perform, price target $37Morgan Stanley, Brian NowakThe forecast underscores “business momentum and ability to profitably scale.”Equal-weight rating largely reflects valuation and durability of the multiple. Price target raised to $34 from $33.Jefferies, Brent ThillThe second-quarter revenue forecast came in above estimates “but still appears relatively conservative” in terms of sequential growth. The full-year forecast was also above estimates but “still represents a sizable moderation in growth.” Jefferies wouldn’t be surprised if management “is taking a pragmatic approach to guidance” to allow for further earnings upside.While Chewy could deliver more “beat and raises” that cause the shares to outperform in the near term, Jefferies said it’s relatively more excited by other internet stocks due to concerns about competition from larger-scale retailers like Amazon.com Inc. and Walmart Inc., and the lack of owned intellectual property.Hold rating, price target raised to $36 from $35What Bloomberg Intelligence saysChewy’s fiscal 2019 sales guidance assumes robust growth will persist, which we think is likely given the strength of 1Q sales and commentary from Amazon.com about pet supply sales on Prime Day. Loyal customers and private label (5% of sales) fuel confidence in Chewy’s eventual profitability, as they drive incremental margin.-- Seema Shah, retail analyst-- Click here for the research(Updates shares in second and third paragraphs.)To contact the reporter on this story: Catherine Larkin in Chicago at email@example.comTo contact the editors responsible for this story: Courtney Dentch at firstname.lastname@example.org, Steven Fromm, Tatiana DarieFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The news was enough to send the ProShares Pet Care ETF (CBOE: PAWZ), the first exchange traded fund to add shares of Chewy, up nearly 1% on above-average volume. PAWZ, which debuted last November, follows the FactSet Pet Care Index. "The pet care business has seen twice the percentage growth of GDP in the U.S. since 2007, and data like the earnings from Chewy are a strong signal that the accelerating trend will continue,” said Simeon Hyman, global investment strategist at ProShares.
Chewy Inc. shares fell less than 0.1% in the extended session Thursday after the company reported its first earnings since its initial public offering just over a month ago.
(Bloomberg) -- Chewy Inc., in its first-ever results since the online pet supply retailer’s initial public offering in June, forecast sales for the current quarter and the year that topped analysts’ estimates. The shares climbed in late trading.PetSmart Inc.-controlled Chewy said net sales in the second quarter will be $1.12 billion to $1.14 billion, while full-year sales will be $4.675 billion to $4.75 billion. Both outlooks exceeded analysts’ projections.Key InsightsSince Chewy gave preliminary first-quarter results before the IPO, investors were hoping to get some guidance from the company looking forward. The company set a high bar with its $1.02 billion IPO last month as well as in its trading debut, where the shares closed 59% above their $22 offer price.Investors have been betting that pet owners will increasingly shop online, though looming large is e-commerce giant Amazon.com Inc. Chewy reiterated it had 11.3 million active members last quarter, but didn’t give any forecast for the current period.The early success of Chewy going to the public market worked out well for PetSmart debt holders, with the IPO bringing bonds due 2023 almost back to par from 56 cents on the dollar in December. Now, they’re up around 94 cents on the dollar, another sign that investors remain upbeat about the company.Market ReactionShares of Dania Beach, Florida-based Chewy rose as much as 4.9% in after-hours trading. While they’ve come off their highs since the company went public, the shares are still up 49%, far outpacing the gain in the S&P 500 Index.Get MoreFor more financial details, click here.For company statement, click here.(Adds bullet about debt trading for PetSmart.)\--With assistance from Katherine Doherty.To contact the reporter on this story: Olivia Rockeman in New York at email@example.comTo contact the editors responsible for this story: Anne Riley Moffat at firstname.lastname@example.org, Lisa Wolfson, Jonathan RoederFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Online pet-food provider Chewy reported fiscal first-quarter results Thursday, the first Chewy earnings report since it held its initial public offering last month. Revenue climbed 45%.
Chewy, Inc. (CHWY) (“Chewy”), a trusted online destination for pet parents, has released its financial results for the first quarter of fiscal year 2019 ended May 5, 2019, and posted a letter to its shareholders on its investor relations website at https://investor.chewy.com. “We are pleased to report strong first quarter 2019 results as a newly public company with net sales growing 45 percent year-over-year, and gross margin increasing 330 basis points year-over-year,” said Sumit Singh, Chief Executive Officer of Chewy. Chewy intends to make future announcements of material financial and other information through its investor relations website.
Thursday, tech giant Microsoft and online pet-products retailer Chewy will deliver financial results after the market close.
Vacasa named former CFO of online pet retailer Chewy to its top financial job and former Mozilla security director to the newly created chief information security officer role.
The New England region grabbed 8.9 percent of second quarter deal count and 8.9 percent of second quarter deal value, according to a new report.
About a dozen Wall Street analysts initiated coverage on Chewy, the online retailer of pet food and supplies that began trading last month, with Chewy stock popping 59% on its first day.
Online pet products retailer Chewy, Inc. (NYSE: CHWY ) began trading in mid-June and the analyst IPO quiet period has lifted. Is the stock is man's best friend or a pest? The Analysts Wells Fargo's Brian ...
(CHWY) stock dipped as a number of analysts began coverage of the online retailer of pet-care goods. A week after the IPO, the shares were struggling to make more headway (although the stock still has plenty of willing buyers on the Street). While none drew direct parallels to Pets.com, the late-90s flop, more are willing to sit on the sidelines than chase the stock.
(Bloomberg) -- Chewy Inc.’s successful, up-sized initial public offering June 14 may deter underwriters from starting coverage with “buy” ratings as the pet supply e-tailer now garners a market capitalization of nearly $14 billion.Chewy shares rose as much as 88% from the offering price of $22 per share in its debut last month. The shares ended their first day at $34.99, giving the company a market value of about $13.95 billion. The stock most recently traded at about $34.Wall Street initiations are likely to start arriving on Tuesday, when a 25-day quiet period expires for analysts at the banks that underwrote Chewy’s IPO. That includes analysts at Morgan Stanley, JPMorgan and Allen & Company, which acted as joint lead bookrunning managers for the offering. BofA Merrill Lynch, Barclays Capital, BC Partners, Jefferies, RBC Capital Markets, UBS and Wells Fargo were also joint bookrunning managers. Nomura Securities International, Raymond James and William Blair & Co. acted as co-managers.The stock’s surge has already prompted one Wall Street analyst to limit his initial rating on the stock to neutral. Seth Basham, an analyst at Wedbush, which did not participate in the IPO, told clients in June that while he liked the company’s long-term growth outlook, the stock had already surged above his $30 price target. He added that the company is seeing “rapid growth” in a “relatively stable sector that is quickly shifting online,” but “we are cognizant of Amazon’s ability to fight back.”Meanwhile, downside options were active, led by the July $30 puts. Data tracked by analytics firm TradeAlert shows 75% changing hands on the offer side and total options volume jumping to over 4 times the 20-day average.The anticipated coverage initiations will come ahead of the company’s quarterly earnings report on July 18.\--With assistance from Gregory Calderone.To contact the reporter on this story: Janet Freund in New York at email@example.comTo contact the editors responsible for this story: Catherine Larkin at firstname.lastname@example.org, Morwenna ConiamFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Dynatrace Holdings LLC, a Waltham-based maker of a software intelligence platform for enterprise cloud, could become the first Massachusetts technology IPO of the year.