UPDATE: Baird Starts Chewy Inc. (CHWY) at Outperform

July 27, 2021 4:12 PM EDT
Get Alerts CHWY Hot Sheet
Price: $73.57 -0.37%

Rating Summary:
    16 Buy, 6 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 16 | Down: 13 | New: 52
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(Updated - July 27, 2021 4:13 PM EDT)

Baird analyst Justin E. Kleber initiates coverage on Chewy Inc. (NYSE: CHWY) with a Outperform rating and a price target of $105.00.

The analyst comments "CHWY is the online leader in an attractive, defensive growth sector, with favorable customer unit economics and a large sticky base of recurring revenue. While concerns over the pace of net customer adds could linger, we believe embedded growth from existing cohort maturation is meaningful/supportive of FY21 revenue upside. Further, with several early-stage initiatives to expand TAM and drive higher customer LTV, CHWY's positive profit trajectory should persist. With the stock nearly 30% below recent highs, we like the risk/reward profile."

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 $86.35 yesterday.

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