Why Chewy's Stock Remains Range-Bound: A Multi-Analyst Perspective On Future Growth, Margin Expansion, And Customer Behavior
Portfolio Pulse from Shivani Kumaresan
Chewy Inc's Q2 FY23 results beat analyst estimates with sales growth of 14.3% YoY to $2.78 billion and an EPS of $0.15. However, several analysts lowered the price target on the company due to concerns about net add growth and a more price-conscious consumer. The stock is expected to remain range-bound until the investor day later this year. Despite these concerns, the company's Net Sales Per Active Customers (NSPAC) remains a strong growth driver.
August 31, 2023 | 6:41 pm
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Chewy's Q2 FY23 results exceeded expectations, but concerns about net add growth and a more price-conscious consumer led to a reduction in the price target by several analysts. The stock is expected to remain range-bound until the investor day later this year.
Chewy's strong Q2 FY23 results were overshadowed by concerns about net add growth and a more price-conscious consumer. These concerns led several analysts to lower their price target on the company, which could negatively impact the stock price in the short term.
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