THE INFORMATION CONTAINED HEREIN IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO AUSTRALIA, CANADA, ITALY, DENMARK, JAPAN, THE UNITED STATES, OR TO ANY NATIONAL OF SUCH JURISDICTIONS NBPE Announces September Monthly NAV Estimate St Peter Port, Guernsey 21 October 2025 NB Private Equity Partners (NBPE), the $1.3bn1, FTSE 250, listed private equity investment company managed by Neuberger Berman, today announces its 30 September 2025 monthly NAV estimate. NAV Highlights (30 September 2025) NAV per ...

Pet e-tail stock Chewy Inc (NYSE:CHWY) is 0.2% higher to trade at $37.50 last glance, while sporting a 29.2% year-over-year lead. The $36 level emerged as a floor for CHWY after a pullback from an early September rally to its highest level since late June. Now, a longer-term trendline that coincides with that level of support indicates the shares have more room to run.Per Schaeffer's Senior Quantitative Analyst Rocky White, the equity is within 0.75 of the 260-day moving average's 20-day average true range ...

Core Viewpoint - JD.com, Inc. is currently viewed as a better value opportunity compared to Chewy based on various valuation metrics and earnings outlook [1][7]. Valuation Metrics - JD.com has a forward P/E ratio of 11.75, significantly lower than Chewy's forward P/E of 30.17, indicating that JD is potentially undervalued [5]. - The PEG ratio for JD is 3.02, while Chewy's PEG ratio is 3.89, suggesting that JD may offer better value relative to its expected earnings growth [5]. - JD's P/B ratio stands at 1.1, in stark contrast to Chewy's P/B ratio of 40.73, further highlighting JD's undervaluation [6]. Earnings Outlook - JD.com has a Zacks Rank of 2 (Buy), indicating an improving earnings outlook, while Chewy holds a Zacks Rank of 3 (Hold) [3][7]. - The positive revisions to JD's earnings estimates contribute to its favorable position in the Zacks Rank model [3].

Group 1 - Chewy is disrupting traditional brick-and-mortar pet stores by offering pet food online, leveraging lower pricing through warehouse deliveries [1] - The company competes with physical stores by providing better pricing options, which is a common strategy among online retailers [1] Group 2 - The article is authored by a freelance business writer with a focus on long-term investment opportunities in sectors like restaurants, retailers, and food manufacturers [1]

Key Takeaways Chewy's Hardgoods revenues climbed more than 15% in Q2, outpacing overall sales growth of 8.6%.New brand additions, fresher inventory and faster fulfillment drove stronger customer engagement.Chewy raised FY25 net sales guidance to $12.5-$12.6B as Hardgoods becomes a key growth driver.Chewy, Inc.’s (CHWY) Hardgoods segment showed exceptional strength in the second quarter of fiscal 2025, highlighting its expanding role in diversifying sales beyond consumables. Hardgoods revenues grew more than ...

Market Environment - The current stock market is characterized by stretched valuations and a heightened sensitivity among investors to negative headlines [1] - There is a recommendation to shift investments from large-cap tech stocks to small- and mid-cap stocks [1] Analyst Background - Gary Alexander has extensive experience in covering technology companies on Wall Street and has worked in Silicon Valley [1] - He has been an outside adviser to several seed-round startups and has contributed to Seeking Alpha since 2017 [1] - His insights are frequently quoted in various web publications and his articles are syndicated to popular trading apps like Robinhood [1]

Market Environment - The current stock market is characterized by stretched valuations and a heightened sensitivity among investors to negative headlines [1] - There is a recommendation to shift investment focus from large-cap tech stocks to small- and mid-cap companies [1] Analyst Background - Gary Alexander has extensive experience in covering technology companies on Wall Street and has worked in Silicon Valley [1] - He has been an outside adviser to several seed-round startups, providing insights into industry trends [1] - Alexander has been a contributor to Seeking Alpha since 2017 and has been quoted in various web publications [1]

Core Insights - Chewy Inc. (CHWY) is a leading online pet retailer with a trailing 12-month price-to-sales (P/S) multiple of 1.33X, significantly lower than the industry average of 2.69X, raising questions about its investment potential [1] - The company has seen an 8.9% increase in stock price over the past month, outperforming the industry decline of 2.4% [2] - Chewy's Q2 net sales reached $3.1 billion, an 8.6% year-over-year growth, driven by strong performance in its Autoship program [7][8] Valuation and Performance - CHWY's trailing 12-month P/S ratio is favorable compared to competitors like Central Garden & Pet Company (0.61), Petco Health and Wellness Company (0.18), and BARK, Inc. (0.28) [1] - The company has outperformed its competitors, with Central Garden and BARK shares declining by 15.9% and 9.3%, respectively, while Petco Health gained 4.7% [3] Sales and Growth Drivers - Autoship sales hit a record $2.58 billion, accounting for 83% of total quarterly revenues, with a year-over-year growth of 14.9% [9] - The active customer base grew to 20.9 million, a 4.5% increase year-over-year, with net sales per active customer rising by 4.6% [10] - Chewy's gross margin improved by 90 basis points to 30.4%, and adjusted EBITDA grew by 34.8%, indicating effective cost management [10] Strategic Initiatives - The Chewy Vet Care network plans to open 8-10 practices in fiscal 2025, enhancing service offerings [11] - The Chewy+ membership program is contributing approximately 3% of monthly sales, indicating higher customer engagement [11] - The launch of the new private brand of fresh dog food, Get Real, has received positive customer feedback [12] Future Outlook - For fiscal 2025, Chewy raised its net sales outlook to $12.5-$12.6 billion, reflecting a 7-8% adjusted year-over-year growth [13] - The company anticipates a 5.4-5.7% adjusted EBITDA margin for the full year, with expected margin improvements driven by gross margin gains [14] - Chewy maintains a strong balance sheet and a debt-free position, positioning itself for sustainable long-term value [15] Earnings Estimates - The Zacks Consensus Estimate for EPS has seen upward revisions, with current estimates for the fiscal year increasing to $1.27 and $1.53 for the next fiscal year [17] Challenges and Competitive Landscape - Management expects margin expansion to moderate in the latter half of fiscal 2025 due to reinvestments in strategic programs [19] - Rising operating costs and fulfillment inefficiencies have constrained Chewy's leverage potential, with SG&A expenses rising to 19.1% of net sales [20] - Competitive intensity remains high, prompting Chewy to sustain advertising and marketing spend at $200.6 million, or 6.5% of sales [22]

Core Insights - Chewy, Inc. (CHWY) stock has shown recovery from a recent low, with analysts projecting significantly higher price targets based on strong free cash flow (FCF) and consumer spending on pets [1][2][5] - Current stock price is $37.00, up from a low of $35.11, but below the peak of $42.33 [2][4] - Analysts suggest a potential value increase of 16% to nearly $43 based on FCF projections [2][4] Financial Performance - Chewy reported Q2 revenue growth of 8.6% and net income growth of 34.8% [5] - FCF margin improved from 3.20% to 3.41%, with expectations of at least a 3.75% margin in the coming year [5] - Projected sales for the next year are approximately $13.6 billion, leading to an estimated FCF of $510 million [5] Market Valuation - Using a 2.857% FCF margin and a 35x multiple, Chewy's market value could rise to $17.85 billion, representing a 16% increase from its current market value of $15.42 billion [5] - Current price target based on analysis is $42.83, with other analysts projecting targets as high as $48.20 [5][6] Investment Strategy - Suggested investment strategy includes buying in-the-money (ITM) calls with longer expiry periods and shorting out-of-the-money (OTM) puts to finance the investment [6][7] - Example strategy involves selling short Nov. 7 puts at a $34.00 strike price, yielding an immediate return of 1.735% [8]

Core Insights - Chewy Inc.'s Autoship subscription program is a key driver of growth and customer loyalty, with Q2 fiscal 2025 Autoship sales reaching $2.58 billion, a year-over-year increase of 14.9%, representing 83% of total net sales [1][10] - The growth in Autoship is attributed to higher enrollment and improved retention, supported by a wide product assortment and a seamless digital shopping experience [2] - Chewy's active customer base grew to 20.9 million, a 4.5% increase year over year, with net sales per active customer rising 4.6% [3] Sales Performance - Chewy's net sales growth outperformed competitors like Central Garden & Pet Company and Petco Health and Wellness [6] - Central Garden & Pet reported a 4% decline in Q3 fiscal 2025 net sales to $961 million, while Petco's Q2 fiscal 2025 net sales decreased by 2.3% to $1.49 billion [7][8] Future Outlook - Chewy projects full-year 2025 net sales between $12.5 billion and $12.6 billion, indicating a year-over-year growth of approximately 7% to 8%, with Autoship playing a crucial role in this growth [5][10] - The company trades at a forward price-to-sales ratio of 1.18X, below the industry average of 2.23X, suggesting potential valuation upside [11] Earnings Estimates - The Zacks Consensus Estimate for Chewy's fiscal 2025 and 2026 earnings indicates year-over-year growth of 22.1% and 20.4%, respectively, with recent upward revisions in earnings estimates [12]