Baird Reiterates Outperform Rating on Chewy Inc. (CHWY) Into Q2 Results

Baird analyst Justin Kleber reiterated an Outperform rating and $105.00 price target on Chewy Inc. (NYSE: CHWY) into Q2 results.

The analyst commented, "Despite concerns across the broader ecommerce landscape (tough comps, reopening-related headwinds), the pet sector is thriving following the pandemic-driven surge in new pet households. As such, we remain comfortable with our 2Q sales/adjusted EBITDA estimates of $2.17B/$38.5M (vs. the Street's ~$2.17B/~$36M). While the pace of net customer adds remains a key focal point, we believe embedded growth from existing cohort maturation is meaningful/supportive of FY21 revenue upside. When combined with several initiatives to expand TAM and drive higher customer LTV, we reiterate our Outperform rating/$105 price target."

For an analyst ratings summary and ratings history on Chewy Inc. click here. For more ratings news on Chewy Inc. click here.

Shares of Chewy Inc. closed at $90.10 yesterday.

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