Piper Sandler Issues Positive Forecast for Chewy (NYSE:CHWY) Stock Price

Chewy (NYSE:CHWY) had its target price raised by Piper Sandler from $35.00 to $40.00 in a research report released on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts have also issued reports on the company. Barclays raised their price target on Chewy from $34.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Needham & Company LLC reaffirmed a “hold” rating on shares of Chewy in a research note on Wednesday, October 23rd. TD Cowen assumed coverage on shares of Chewy in a research note on Wednesday, October 9th. They set a “buy” rating and a $38.00 price objective on the stock. JPMorgan Chase & Co. upped their target price on shares of Chewy from $28.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Finally, Wedbush reissued an “outperform” rating and set a $35.00 price target on shares of Chewy in a research report on Thursday, August 29th. Eight research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Chewy presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.60.

Chewy Price Performance

Shares of NYSE:CHWY opened at $33.63 on Monday. The stock has a market cap of $14.06 billion, a price-to-earnings ratio of 41.04, a P/E/G ratio of 3.13 and a beta of 1.06. The company has a 50 day moving average of $30.16 and a 200-day moving average of $26.75. Chewy has a one year low of $14.69 and a one year high of $39.10.

Insider Buying and Selling

In other news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $29.40, for a total transaction of $36,750,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Chewy

Hedge funds and other institutional investors have recently bought and sold shares of the business. 1620 Investment Advisors Inc. acquired a new stake in shares of Chewy during the 2nd quarter worth about $33,000. Blue Trust Inc. lifted its position in Chewy by 183.6% during the third quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock worth $38,000 after acquiring an additional 905 shares during the last quarter. Industrial Alliance Investment Management Inc. bought a new stake in shares of Chewy during the second quarter worth approximately $44,000. First Horizon Advisors Inc. acquired a new position in shares of Chewy in the second quarter valued at approximately $48,000. Finally, Skylands Capital LLC bought a new position in shares of Chewy during the second quarter worth approximately $52,000. Institutional investors own 93.09% of the company’s stock.

About Chewy

Chewy, Inc, together with its subsidiaries, engages in the pure play e-commerce business in the United States. It provides pet food and treats, pet supplies and pet medications, and other pet-health products, as well as pet services for dogs, cats, fish, birds, small pets, horses, and reptiles through its retail websites and mobile applications.