Analysts Boosts Chewy's Price Forecast But Say Valuation Is Bit Stretched

On Wednesday, Chewy Inc. CHWY reported better-than-expected second-quarter 2024 results and reaffirmed annual guidance. The company reported sales of $2.86 billion, up 2.6% year over year, almost in line with the consensus of $2.86 billion and the management guidance of $2.84 billion—$2.86 billion. The retailer of pet supplies reported adjusted EPS of $0.24 compared to the consensus of $0.02 and $0.15 a year ago. JP Morgan analyst writes, "We're encouraged that Chewy's Active Customers returned to growth fo ...