Chewy Expected to Deliver Solid Fourth-Quarter Results, TD Cowen Reiterates Buy

TD Cowen reiterated its Buy rating and $39 price target on Chewy Inc. (NYSE: CHWY), expressing confidence ahead of the company’s fourth-quarter 2025 earnings release. The firm said it expected Chewy to report fourth-quarter revenue of $3.27 billion, representing a 0.7% year-over-year increase and aligning with consensus estimates as well as the high end of company guidance. Growth was anticipated to be driven by increases in active customers and net sales per active customer (NSPAC). Gross margin was projec ...