Chewy Stock Is Running Thursday: What's Going On?
Portfolio Pulse from Adam Eckert
Chewy Inc (NYSE:CHWY) reported a 14.7% YoY increase in Q1 revenue to $2.78 billion, beating consensus estimates of $2.73 billion. Adjusted quarterly earnings were 20 cents per share, up significantly YoY. Multiple analysts lifted price targets following the results.
June 01, 2023 | 1:06 pm
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POSITIVE IMPACT
Chewy's Q1 revenue and earnings beat estimates, resulting in multiple analysts raising price targets. The stock is up 19% at $35.10.
Chewy's better-than-expected Q1 revenue and earnings have led to positive sentiment among analysts, who have raised their price targets. This has resulted in a 19% increase in the stock price, indicating a short-term positive impact on the stock.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100