Chewy Shares Are Sliding Thursday: What's Going On?
Portfolio Pulse from Adam Eckert
Chewy Inc's shares are trading lower after the company reported Q2 financial results that beat estimates. However, multiple analysts cut price targets on the stock. The company's Q2 revenue was $2.78 billion, beating estimates of $2.76 billion, and Q2 EPS was 15 cents, beating estimates for a loss of 5 cents. Despite the positive results, analysts from Barclays, Evercore ISI Group, Needham, and Oppenheimer lowered their price targets.
August 31, 2023 | 1:03 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Chewy Inc's shares are trading lower despite beating Q2 estimates. Analysts from Barclays, Evercore ISI Group, Needham, and Oppenheimer have lowered their price targets.
Chewy Inc reported better than expected Q2 results. However, the stock is trading lower as multiple analysts have cut their price targets. This indicates a negative sentiment towards the stock in the short term, which is likely to put downward pressure on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100