JPMorgan Chase & Co. Reiterates Neutral Rating for Chewy (NYSE:CHWY)

Chewy (NYSE:CHWY)‘s stock had its “neutral” rating restated by research analysts at JPMorgan Chase & Co. in a research note issued to investors on Friday, Benzinga reports. They currently have a $24.00 target price on the stock, down from their prior target price of $29.00. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 13.66% from the stock’s current price.

Several other research analysts have also commented on the stock. Zacks Research upgraded shares of Chewy from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Citizens Jmp reaffirmed a “market outperform” rating and issued a $28.00 price target on shares of Chewy in a research note on Thursday. Robert W. Baird decreased their target price on shares of Chewy from $30.00 to $28.00 and set an “outperform” rating for the company in a research note on Thursday. Mizuho lowered their price target on Chewy from $40.00 to $32.00 and set an “outperform” rating for the company in a research report on Friday, September 4th. Finally, Rosenblatt Securities lowered their price objective on Chewy from $25.00 to $24.00 and set a “neutral” rating on the stock in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.82.

Chewy Trading Up 1.8%

Shares of CHWY opened at $21.11 on Friday. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.84 and a quick ratio of 0.35. The firm’s 50 day simple moving average is $22.44 and its 200 day simple moving average is $23.09. Chewy has a 1-year low of $17.40 and a 1-year high of $40.55. The company has a market capitalization of $8.64 billion, a P/E ratio of 31.99, a P/E/G ratio of 0.83 and a beta of 1.42.

Chewy (NYSE:CHWY) last posted its quarterly earnings results on Wednesday, September 9th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.18. The business had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.32 billion. Chewy had a net margin of 2.09% and a return on equity of 60.88%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.33 earnings per share. Sell-side analysts forecast that Chewy will post 0.8 earnings per share for the current fiscal year.

Insider Buying and Selling at Chewy

In related news, General Counsel Da-Wai Hu sold 4,203 shares of Chewy stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $19.49, for a total value of $81,916.47. Following the completion of the transaction, the general counsel owned 4,103 shares in the company, valued at approximately $79,967.47. This trade represents a 50.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.34% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Chewy

Institutional investors and hedge funds have recently modified their holdings of the stock. Harbour Investments Inc. increased its holdings in Chewy by 81.4% during the 4th quarter. Harbour Investments Inc. now owns 907 shares of the company’s stock worth $30,000 after purchasing an additional 407 shares during the period. Osterweis Capital Management Inc. acquired a new stake in Chewy in the second quarter valued at approximately $30,000. Los Angeles Capital Management LLC purchased a new position in Chewy in the fourth quarter worth $31,000. Modus Advisors LLC purchased a new position in Chewy in the fourth quarter worth $34,000. Finally, Parallel Advisors LLC increased its position in shares of Chewy by 106.8% during the first quarter. Parallel Advisors LLC now owns 1,584 shares of the company’s stock worth $43,000 after purchasing an additional 818 shares in the last quarter. Hedge funds and other institutional investors own 93.09% of the company’s stock.

Key Chewy News

Here are the key news stories impacting Chewy this week:

• Positive Sentiment: Chewy reported revenue of $3.33 billion, up 7.3% year over year and slightly above estimates, while adjusted EPS of $0.36 was in line with or above consensus depending on the measure used. Active customers increased 3.8% to 21.7 million, and Autoship sales reached $2.82 billion, or 84.6% of revenue. Chewy Q2 Revenue Rises 7.3% to $3.33 Billion
• Positive Sentiment: Management raised its fiscal 2026 revenue outlook to $13.5 billion-$13.6 billion and increased its profitability outlook. Stable demand for essential pet products, market-share gains, Autoship growth and AI-related cost savings support the improved forecast. Chewy Q2 Earnings Call Highlights Stable Demand and Higher Outlook
• Positive Sentiment: Some analysts remain constructive: Citizens JMP reaffirmed an outperform rating with a $28 target, while TD Cowen and Bank of America maintained Buy ratings despite trimming their targets. Analysts also cited Chewy’s potential expansion into higher-margin services, including veterinary care. Chewy Buy Rating Reaffirmed
• Neutral Sentiment: The quarter was broadly solid but not a major upside surprise: gross margin was flat at 30.4%, and analysts described the near-term catalyst path as limited because pet-category growth remains modest.
• Negative Sentiment: Free cash flow missed expectations, while acquisition-related spending and lower liquidity raised balance-sheet concerns. Investors also questioned whether reported profit benefited from temporary factors rather than durable operating improvement. Chewy Free Cash Flow Miss Overshadows Raised Outlook
• Negative Sentiment: Consumers are reducing discretionary purchases such as pet treats, and Evercore ISI downgraded the stock, citing slowing organic growth and few catalysts. Rosenblatt also cut its target to $24 and adopted a Neutral rating. Analyst Downgrade on Limited Catalysts

About Chewy

Chewy, Inc is an e-commerce company focused on pet products and services. Through its website and mobile applications, the company sells pet food, treats, supplies, toys, bedding, medications, and other products for dogs, cats, fish, birds, reptiles, and small pets.

Chewy supports recurring purchases through its Autoship program and provides access to prescription and over-the-counter pet medications through Chewy Pharmacy. The company also offers pet health-related services, including veterinary consultations in certain markets, and sells products under a range of national and private-label brands.