Why Chewy Stock Got Chewed Up Today
Online pet food store (NYSE: CHWY) reported earnings this morning, and investors think Chewy is a very bad boy. The stock fell 12.6% through 9:50 a.m. ET despite hitting analyst forecasts for $0.33 per share in adjusted earnings, and beating (barely) the forecast for less than $3.1 billion in Q2 sales.
Chewy's actual sales for the quarter hit $3.1 billion on the nose, a year-over-year increase of nearly 9%. The company earned a 30.4% gross profit margin on these sales, up 90 basis points from a year ago. And yet the news was not all good.
Image source: Getty Images.
Source Fool.com
Chewy Inc Stock
€28.80
2.180%
With 45 Buy predictions and not a single Sell prediction Chewy Inc is an absolute favorite of our community.
As a result the target price of 39 € shows a positive potential of 35.44% compared to the current price of 28.8 € for Chewy Inc.
