Robert W. Baird Issues Pessimistic Forecast for Chewy (NYSE:CHWY) Stock Price

Chewy (NYSE:CHWY) had its price objective reduced by stock analysts at Robert W. Baird from $30.00 to $28.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price target would indicate a potential upside of 36.35% from the stock’s previous close.

Several other research firms have also issued reports on CHWY. Jefferies Financial Group reiterated a “hold” rating and issued a $23.00 target price on shares of Chewy in a research note on Thursday, June 11th. Rosenblatt Securities cut their price target on shares of Chewy from $25.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday. Royal Bank Of Canada reiterated an “outperform” rating and issued a $34.00 price objective on shares of Chewy in a research note on Wednesday, August 26th. Piper Sandler reissued an “overweight” rating on shares of Chewy in a research report on Friday, August 21st. Finally, UBS Group downgraded Chewy from a “neutral” rating to a “hold” rating and set a $28.00 target price on the stock. in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $31.32.

Chewy Stock Performance

Shares of CHWY opened at $20.54 on Thursday. The firm has a market capitalization of $8.41 billion, a P/E ratio of 34.23, a P/E/G ratio of 0.93 and a beta of 1.42. Chewy has a 52 week low of $17.40 and a 52 week high of $40.55. The stock has a 50 day moving average price of $22.44 and a two-hundred day moving average price of $23.13.

Chewy (NYSE:CHWY) last announced its earnings results on Wednesday, September 9th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.18. Chewy had a return on equity of 60.02% and a net margin of 1.99%.The company had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.32 billion. During the same quarter in the previous year, the firm earned $0.33 earnings per share. Chewy’s quarterly revenue was up 7.3% on a year-over-year basis. On average, equities analysts forecast that Chewy will post 0.8 earnings per share for the current year.

Insider Activity at Chewy

In related news, General Counsel Da-Wai Hu sold 4,203 shares of the stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $19.49, for a total transaction of $81,916.47. Following the sale, the general counsel owned 4,103 shares of the company’s stock, valued at approximately $79,967.47. This represents a 50.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.34% of the stock is owned by insiders.

Institutional Investors Weigh In On Chewy

A number of institutional investors and hedge funds have recently modified their holdings of the company. National Bank of Canada FI increased its holdings in Chewy by 12.5% during the 3rd quarter. National Bank of Canada FI now owns 2,910 shares of the company’s stock worth $118,000 after acquiring an additional 324 shares during the period. Dynasty Wealth Management LLC boosted its stake in Chewy by 6.6% during the fourth quarter. Dynasty Wealth Management LLC now owns 6,321 shares of the company’s stock valued at $209,000 after buying an additional 394 shares during the period. Harbour Investments Inc. boosted its stake in Chewy by 81.4% during the fourth quarter. Harbour Investments Inc. now owns 907 shares of the company’s stock valued at $30,000 after buying an additional 407 shares during the period. Utah Retirement Systems grew its position in Chewy by 4.4% during the fourth quarter. Utah Retirement Systems now owns 11,586 shares of the company’s stock worth $383,000 after buying an additional 485 shares in the last quarter. Finally, Rafferty Asset Management LLC increased its stake in Chewy by 3.6% in the 4th quarter. Rafferty Asset Management LLC now owns 14,108 shares of the company’s stock worth $466,000 after acquiring an additional 489 shares during the last quarter. 93.09% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Chewy

Here are the key news stories impacting Chewy this week:

• Positive Sentiment: Chewy reported second-quarter revenue of $3.33 billion, up 7.3% year over year and slightly ahead of the $3.32 billion consensus estimate. Adjusted EPS of $0.36 also exceeded the cited $0.18 consensus, while net income rose to $80.5 million from $62 million a year earlier. Chewy Announces Second Quarter 2026 Financial Results
• Positive Sentiment: Management raised its full-year outlook, projecting fiscal 2026 revenue of $13.5 billion to $13.6 billion versus consensus of $12.8 billion. Third-quarter revenue guidance of $3.3 billion to $3.4 billion was broadly in line with expectations. Adjusted EBITDA margin reached 6.8%.
• Positive Sentiment: Autoship sales increased to approximately $2.8 billion, representing 84.6% of quarterly revenue, and active customers rose 3.8% to 21.7 million. Management also highlighted AI-related efficiency initiatives and growth in higher-margin services. Chewy Q2 2026 Earnings Call Transcript
• Neutral Sentiment: TD Cowen and Bank of America reaffirmed Buy ratings, but reduced their price targets to $32 and $27, respectively, reflecting disciplined investment, margin considerations and a shift toward services. Chewy analyst rating update
• Negative Sentiment: The main catalyst for the selloff was a free-cash-flow shortfall, compounded by concerns about lower liquidity following acquisition-related cash usage. Gross margin remained flat at 30.4%, while consumers continued to limit discretionary spending on pet treats and other products. Chewy free cash flow report
• Negative Sentiment: Investors viewed the earnings beat as largely in line rather than a major upside surprise, and recent disclosures show open-market insider activity consisting of sales rather than purchases.

About Chewy

Chewy, Inc (NYSE: CHWY) is a leading e-commerce retailer specializing in pet food, supplies and services. The company offers a comprehensive assortment of products for dogs, cats, fish, birds and other small animals, including prescription medications, veterinary health products, grooming essentials and toys. Through its online platform and mobile app, Chewy provides an intuitive shopping experience with features such as Autoship, ensuring regular deliveries of pet essentials at schedule intervals.

Founded in 2011 by Ryan Cohen and Michael Day, Chewy initially operated under the name Mr.