Why Investors Punished Chewy Stock on Thursday
(NYSE: CHWY) wasn't much of a treat for shareholders on Thursday. Shares of the pet food and products company sank by nearly 2% as the market reacted to the fiscal third-quarter report that it published after hours on Wednesday. That bucked the trend of the wider market, as the S 500 index rose by 0.8% on the day.
For the quarter, which ended Oct. 29, Chewy's net sales came in at $2.74 billion. This was 8% higher than in the same period of 2022, but didn't quite reach the average analyst estimate of $2.76 billion.
The same applied to Chewy's GAAP (generally accepted accounting principles) net loss, which was nearly $36 million ($0.08 per share), compared to a profit of $2.3 million in the prior-year period. Prognosticators following the stock had been collectively modeling for a narrower loss of $0.06 per share.
Source Fool.com
Chewy Inc Stock
The stock is one of the favorites of our community with 38 Buy predictions and 3 Sell predictions.
With a target price of 28 € there is a positive potential of 22.03% for Chewy Inc compared to the current price of 22.95 €.
