|Bid||27.37 x 800|
|Ask||27.43 x 800|
|Day's Range||27.06 - 27.99|
|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|
The online pet retailer Chewy reported a loss of 10 cents a share, which was one cent more than analysts expected. The company also raised its revenue forecast for the fiscal year. Yahoo Finance's YFi AM discusses.
Chewy posted a wider loss than a year ago, thanks in part to big stock payouts connected to its IPO this year. However, sales beat estimates and Chewy boosted its revenue outlook. Wedbush analyst Seth Basham shared his thoughts about Chewy on The Final Round.
The market has been hit with a wave of highly anticipated IPOs this year, but many have fallen flat in public markets. Yahoo Finance’s Brian Sozzi and Alexis Christoforous discuss with former Cisco CEO, John Chambers, and Sprinklr founder, Ragy Thomas.
BARRONS NEXT HOT STOCKS Shares of (CHWY) rose as an analyst upgraded the online retailer of pet goods, saying the shares’ September slump has left them looking “more attractive, with limited downside.
Chewy's "solid" quarter is highlighted by a 43% increase in revenue and 410 basis point EBITDA margin expansion, Raymond James analyst Aaron Kessler wrote in a note. Other key positive takeaways from the quarter include: a net addition of around 700,000 customers, revenue per customer rose 10% from last year, Autoship revenue rose 49% year-over-year and accounted for 69.3% of total sales, gross margins expanded 300 basis points to 23.6% from improved product margin and supply chain efficiencies and management improved its sales outlook from 32-34% to 35-36%.
(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.
Dow Jones futures: The stock market rally neared highs even as Fed rate-cut odds fell to 50-50. Adobe, FedEx and Chewy fell on weak earnings or outlooks.
The shares of the Dania Beach, Fla., company were trading down 6.8% at $28.19. A number of analysts Wednesday were less than warm and fuzzy in their responses as well. Analysts were expecting a loss of 11 cents on revenue of $1.13 billion, according to FactSet.
Chewy Inc. shares slipped in the extended session Tuesday after the "pet humanization" products seller reported its quarterly results. Chewy shares slipped 4.3% after hours, following a 0.6% decline in the regular session to close at $30.25. Shares went public a $22 a share in June. The company reported a second-quarter loss of $82.9 million, or 21 cents a share, compared with a loss of $63.1 million, or 16 cents a share, in the year-ago period. Revenue rose to $1.15 billion from $805.6 million in the year-ago quarter. Analysts surveyed by FactSet had forecast a loss of 11 cents a share on revenue of $1.13 billion. The company reported an adjusted loss before interest, tax, depreciation and amortization of $29.2 million, while analysts expected $29.8 million. Chewy expects revenue of $1.19 billion to $1.21 billion for the third quarter, and $4.75 billion to $4.8 billion for the year. Analysts had forecast on revenue of $1.16 billion for ther quarter, and $4.73 billion for the year.
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.
Editor's note: InvestorPlace's Earnings Reports to Watch is updated weekly. Please check back next week for our latest earnings picks.Earnings season has ended, and once again, stocks have rallied. One might think that a lighter earnings calendar would be troublesome for stocks, given that news for U.S. corporations remains mostly positive. It hasn't played out that way.Indeed, stocks began to gain in early June once earnings reports had slowed to a trickle. The S&P 500 then turned south in late July -- at the peak of earnings season. Last week, with reports for major companies pretty much complete, U.S. equities again bounced: as of this writing, the S&P 500 is back above 3,000.InvestorPlace - Stock Market News, Stock Advice & Trading TipsIt has been an odd trend, but one that suggests the rally in stocks has at least a month to go. Interestingly, the earnings calendar does give investors a chance to check that thesis next week.There actually are several key companies reporting next week that will give data on key areas of the economy and the market. Darden Restaurants (NYSE:DRI) can give a read on the confidence of the consumers who are supporting the economy. Results from office furniture manufacturers Herman Miller (NASDAQ:MLHR) and Steelcase (NYSE:SCS) should show confidence on the business side. Reaction to the second-quarter report from Chewy (NYSE:CHWY) will highlight investor attitudes toward, and patience with, newer IPO stocks, some of which have struggled. * 10 Recession-Resistant Services Stocks to Buy But three earnings reports next week look even more helpful in trying to judge investor sentiment at the moment. A classic tech growth stock will get another challenge. An economic bellwhether delivers an always-important release. And a consumer leader will update on the progress of its turnaround in an industry that has seen some trouble. For investors trying to figure out if history will repeat itself, these are the three earnings reports to watch now. FedEx (FDX)Source: Mike Mozart via FlickrEarnings Report Date: Tuesday, September 17, after market closeEarnings from FedEx (NYSE:FDX) historically have been seen as a proxy for corporate sentiment. After all, FedEx revenue was pretty much directly linked to U.S. business spending. Strong results from FedEx usually meant confident executives and a positive macroeconomic outlook.FedEx doesn't quite have the status it used to, but its report still matters. FedEx management actually has been bearish in recent quarters, owing in large part to trade war issues. With the domestic economy still strong, management might have different news to deliver this time around. And a bullish stance from FedEx could be enough of a catalyst to give U.S. equities a further boost.Meanwhile, the quarter is a key one for FDX stock itself. FDX shares have been stuck in a range since December. They're down over one-third from early 2018 highs. Investors are worried about pending competition from Amazon (NASDAQ:AMZN) and a potential cyclical turn. For a rally into earnings to hold, FedEx needs to put up a strong quarter and inspire some confidence from investors in itself. Adobe (ADBE)Source: r.classen / Shutterstock.com Earnings Report Date: Tuesday, September 17, after market closeAdobe (NASDAQ:ADBE) seemed to get the benefit of the doubt after its fiscal second-quarter report in June. The combination of soft guidance and a high valuation often sends a stock tumbling, but ADBE actually rose after the report, and kept climbing.In a seeming reversal of the market-wide trend, it's been a lack of news that's been trouble for Adobe stock since. ADBE has pulled back 11% from late July highs, and heads into earnings near a three-month low. * 7 Tech Stocks You Should Avoid Now With that pullback, Adobe stock looks more intriguing at 28x forward earnings. But at that multiple, and with growth likely to slow at some point, ADBE still has valuation concerns. That makes earnings an interesting test. Does a strong earnings report lead Adobe stock to rebound? If the answer is no, that suggests valuation is becoming a more important factor in the cloud space. That would make Adobe earnings an omen for other stocks across tech. General Mills (GIS)Source: Shutterstock Earnings Report Date: Wednesday, September 18, before market openEarnings from General Mills (NYSE:GIS), too, will impact entire sectors. GIS stock was collapsing less than a year ago, but increasing investor optimism toward its turnaround, and its pivot into pet food, has led to strong performance in 2019.It's important to the industry that General Mills keep performing with its fiscal Q1 report on Wednesday morning. After it looked last year like the consumer packaged goods space was in trouble, many stocks have rallied. There's a growing belief that the industry can adapt to competition from smaller, focused brands -- and from private label rivals being backed by supermarket customers.General Mills numbers need to be good enough to keep that confidence intact. This is a stock up 39% so far this year in a sector that, with a few exceptions, generally has rallied. Investors clearly are pricing in better news going forward. If General Mills can't deliver, there's a long way down to go.As of this writing, Vince Martin did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Deeply Discounted Energy Stocks to Buy * 7 Stocks to Buy In a Flat Market * 10 Stocks to Buy to Ride China's Emerging Wealth The post 3 Earnings Reports to Watch Next Week appeared first on InvestorPlace.
2019 has been a big year for initial public offerings. The year saw the arrival of some of the most anticipated IPO stocks in years, among them Uber (NYSE:UBER) stock.Indeed, it's possible that 2019 will set a record for the most capital raised, topping the $97 billion raised in 2000. WeWork and Peloton are among the well-known companies likely to go public before year-end.That said, post-IPO performance has been mixed. UBER stock, most notably, has been a flop. On the other side of the coin, a food-tech play has been one the best performers of all time, at least in the early going.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 10 Battered Tech Stocks to Buy Now What matters at this point, of course, is not how these IPO stocks have traded so far -- but how they'll trade going forward. In some cases, big gains should continue. In others, early stumbles might look like a buying opportunity -- or a worrisome omen. After all, in many ways the IPO is the easy part. It's keeping investor attention after the offering that can be much more difficult. IPO Stocks: Uber (UBER)Source: NYCStock / Shutterstock.com Uber's IPO got off to a rocky start: Its $45 IPO price gave way almost instantly.UBER stock managed to grind back to those levels on a few occasions. But a disappointing second quarter earnings report last month sent shares tumbling. Uber stock neared $30 late last month before a recent bounce.The performance might be even worse than a 29% decline from the IPO price suggests. Uber executives reportedly wanted a $120 billion valuation ahead of the offering. The company's current market capitalization is less than half that.As I wrote last month, whether UBER stock can rebound likely comes down to one key factor: investor trust in the business model. It might seem stunning given the $58.6 billion valuation, but many investors still believe that the Uber business model will never be consistently profitable.The argument is that Uber simply has bought its growth through driver and rider incentives. To become profitable, those incentives will have to go away. But if and when those incentives go away, Uber's driver and rider pools both shrink.From that standpoint, the cheaper Uber stock price doesn't change the case all that much. If the model works -- if Uber can truly revolutionize not only the taxi industry, but food delivery and even freight -- UBER stock probably rises. If it doesn't, the stock would plunge.It's hard to know for certain which scenario plays out -- but one can at least reasonably assume that Uber stock is going to make a big move going forward. Lyft (LYFT)Source: Tero Vesalainen / Shutterstock.com For Uber's ride-hailing rival, Lyft (NASDAQ:LYFT), post-IPO trading hasn't been much better. LYFT, too, quickly dipped below its IPO price of $72. Like UBER stock, it touched an all-time low last month. And at least relative to its initial price, LYFT has underperformed, declining 38% against Uber's 29%.The broad question about the viability of the ride-hailing model obviously applies to Lyft as well. But there are two key differences in the stories.First, Lyft remains much smaller. Its revenue in the June quarter was less than one-third that of Uber. Of course, that may not necessarily be a bad thing. Lyft clearly has gained market share over the past few years, helped in part by the scandals at Uber. Continued share gains give Lyft a path to better growth going forward than Uber -- and potentially quicker profitability. * 10 Stocks to Sell in Market-Cursed September Second, Lyft doesn't have a delivery business, as Uber does with UberEats. And that might be a weakness, given investor hopes for UberEats rivals like DoorDash and GrubHub (NYSE:GRUB).Meanwhile, LYFT stock still trades at a premium to UBER stock on a price-to-revenue basis. That seems a bit surprising. Investors right now are pricing in further market share gains for Lyft, no matter how the actual market plays out. If Lyft disappoints on that front, the declines could continue. Chewy (CHWY)Source: designs by Jack / Shutterstock.com To some investors, online pet food retailer Chewy (NYSE:CHWY) looks a lot like UBER stock. Yes, growth has been impressive: 2018 revenue was eight times that generated just three years earlier.But, like Uber, bears argue that Chewy simply is creating unprofitable revenue. Indeed, well-known investor David Einhorn compared CHWY stock to that of Pets.com, one of the most infamous of the dot-com bubble stocks.That comparison seems unfair, however. Pets.com generated less than $6 million in revenue in 1999, and was bankrupt just a few months later. Chewy is on track to bring in almost $5 billion in revenue this year, has plenty of cash on the balance sheet and is tracking toward EBITDA profitability.A valuation of $13 billion-plus admittedly is concerning, particularly given that PetSmart paid one-quarter as much to acquire Chewy a little over two years ago. But as a satisfied Chewy customer, I see growth continuing and profitability arriving. If that's the case, CHWY's post-IPO sideways trading should turn into upside soon enough. Levi Strauss (LEVI)Source: Davdeka / Shutterstock.com Denim manufacturer Levi Strauss (NYSE:LEVI) returned to the public markets this year for the first time since 1985. But, at least so far, early returns have been disappointing.LEVI stock got off to a nice start, gaining 32% in its first day of trading in March. But a disappointing fiscal Q2 report undercut the stock. Friday's close of $17.08 leaves LEVI almost exactly even against its IPO price of $17.Near the lows, there's admittedly an intriguing case for LEVI stock. A forward price-to-earnings ratio of just 15.9 leaves valuation reasonable. Growth has been impressive in recent years. Denim demand seems to be holding up well, given results from the likes of American Eagle Outfitters (NYSE:AEO) and Wrangler owner Kontoor Brands (NYSE:KTB), a spinoff of V.F. Corporation (NYSE:VFC). * 7 Stocks to Buy In a Flat Market The worry, however, is that Levi's strong results heading into the IPO aren't sustainable, as a turnaround effort largely is complete. The company still has a big retail business at a time when investors want no part of retail. LEVI looks intriguing here -- but it's tough to argue that it looks compelling. CrowdStrike (CRWD)Source: Piotr Swat / Shutterstock.com Shares of cybersecurity company CrowdStrike (NASDAQ:CRWD) are heading in the wrong direction. Like so many tech IPO stocks in recent years, CRWD got off to a hot start, peaking at just shy of triple its IPO price of $34.The stock now has given back about a quarter of its value, however. Earnings and guidance both looked strong in last week's fiscal Q2 report, but the stock slid anyway.It's likely valuation is a factor. After all, this is a stock trading at roughly 40x this year's revenue guidance, even backing out cash. That's one of the highest figures in all of tech (though not, as we shall see, the highest).That said, investors have been rewarded in this market for focusing on growth over valuation. And CRWD now is back toward levels seen before its first-quarter report. In that report, too, CrowdStrike beat estimates and gave above-consensus guidance. CRWD stock jumped 15% on that release. Why sentiment has reversed isn't necessarily clear -- but if and when it turns back, CrowdStrike stock will be one of the better growth stocks out there. Zoom Video Communications (ZM)Source: Michael Vi / Shutterstock.com The story at video communications provider Zoom Video Communications (NASDAQ:ZM) sounds awfully like that of CrowdStrike.Zoom went public two months earlier, and its shares, too, initially soared. In fact, just like CrowdStrike, its stock stopped just pennies shy of tripling. CRWD since has fallen 25% from its highs; ZM stock has dropped 20%.Like CrowdStrike, strong fiscal Q2 earnings from Zoom Video last week were met by investor selling. ZM stock fell 8% on Friday, the day after its earnings release. And like CrowdStrike, the stock still looks dearly valued. ZM trades at an almost unfathomable 45x the FY20 consensus revenue estimate. * 7 Best Tech Stocks to Buy Right Now Where does Zoom go from here? It seems likely that, at least in the near term, it's going to be market factors that answer that question. As I wrote in April, ZM truly is the perfect stock for this tech market. Growth is enormously impressive, the opportunity is huge, and yet the valuation seems to incorporate all of the good news. As long as investors will keep paying up for growth, ZM stock can rebound. If and when valuation concerns arrive, however, ZM is one of the stocks most likely to crash. Luckin Coffee (LK)Source: Keitma / Shutterstock.com China's Luckin Coffee (NASDAQ:LK) has been one of the more middling IPO stocks so far this year. The IPO priced at $17, and closed its initial day of trading at $20.38. Since then, however, LK stock has gained just 1%.That said, for a Chinese consumer play, even flattish performance doesn't seem that bad. Trade war worries have led to selling pressure on a number of Chinese stocks, but LK stock has managed to hold up and keep an aggressive valuation of about 6x revenue.Even management from Starbucks (NASDAQ:SBUX), which is aggressively targeting the Chinese market, admitted at a recent conference that Luckin's growth was impressive. But Starbucks CFO Patrick Grismer also noted that Luckin's revenue growth has come from "extreme marketing and very aggressive discounts."Between valuation and what may be marketing-fueled hypergrowth, LK clearly is a high-risk play. For investors who see the selloff in Chinese stocks as overdone, however, Luckin Coffee stock could be worth that risk. Pinterest (PINS)Source: Nopparat Khokthong / Shutterstock.com Since its April IPO, Pinterest (NYSE:PINS) has performed reasonably well. The stock is up 60% from its IPO price of $19, albeit with some volatility along the way.But PINS stock has weakened of late, dropping 18% from August highs following a strong Q2 report. As with other IPO stocks, valuation concerns may be a factor. PINS still trades at about 15x 2019 revenue estimates.With year-over-year revenue growth likely near 50%, however, that valuation doesn't seem all that extreme, at least in this market. Pinterest clearly has a solid niche, though InvestorPlace's Josh Enomoto worried that its demographics might be too narrow. That proved to be a significant issue for Snap (NYSE:SNAP), which still trades below its 2017 IPO price amid concerns that its potential beyond younger customers is limited. * The 8 Worst Stocks to Buy Before the Trade Turmoil Cools Off With PINS heading toward levels seen before Q2 earnings, there may be a near-term trading opportunity. Longer term, the performance of PINS likely boils down to whether the company can convince investors its torrid revenue growth can continue for years to come. Slack (WORK)Source: Shutterstock Slack (NYSE:WORK), too, was a victim of a tough week for IPO stocks. WORK stock dropped as much as 16% following second-quarter results due to weak guidance. Shares recovered most of those losses -- but then fell almost 7% on Friday.To be fair, WORK isn't necessarily an IPO stock. Like Spotify (NYSE:SPOT), the company went public via a direct listing, not an actual IPO. Ignoring that distinction, however, WORK clearly has been one of 2019's worst new issues.After Friday's losses, WORK is almost back to its initial price of $26. Guidance is concerning. Competition, most notably from Microsoft (NASDAQ:MSFT), remains intense. And it's not as if the decline makes WORK cheap. The stock still trades at 25x FY2020 revenue estimates and profitability remains a long ways off.Right now, WORK looks like a falling knife. And with at least two-plus months until the next earnings report, patience is required. Beyond Meat (BYND)Source: Sundry Photography / Shutterstock.com Beyond Meat (NASDAQ:BYND) has been the best of 2019's IPO stocks. Even with a pullback from late July highs, the stock is up over 500% from its IPO price of $25.Those gains have drawn quite a bit of scrutiny. More than a few investors have called BYND a bubble. While the opportunity for plant-based "meat" seems large, Beyond Meat doesn't have that opportunity to itself. Impossible Foods, Nestle (OTCMKTS:NSRGY) and Tyson Foods (NYSE:TSN) are among those targeting the market.All that said, there is real value here -- and a real company. Growth has been explosive. Distribution continues to expand. And Beyond Meat is not a play for vegans or for health-conscious customers, but rather traditional meat eaters looking to minimize their environmental footprint or simply replace meat once or twice a week.Beyond Meat is likely to grow for years to come -- the question, at above $150, is whether it can grow fast enough to support an enormously hefty valuation.As of this writing, Vince Martin has no positions in any securities mentioned. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Battered Tech Stocks to Buy Now * 7 Strong-Buy Stocks Hedge Funds Are Buying Now * The 7 Best Penny Stocks to Buy The post 10 Big IPO Stocks From 2019 to Watch appeared first on InvestorPlace.
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.
Brian McAndrews, the former CEO of internet radio station company Pandora Media, has joined Chewy's newly expanded board of directors. The Dania Beach-based e-commerce company (NYSE: CHWY) also added to the board David LeLand, managing director of BC Partners, according to a recent filing with the U.