Chewy (NYSE:CHWY) Stock Price Expected to Rise, Piper Sandler Analyst Says

Chewy (NYSE:CHWY) had its price target increased by analysts at Piper Sandler from $35.00 to $40.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s target price indicates a potential upside of 18.10% from the stock’s current price.

CHWY has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Chewy from $24.00 to $28.00 and gave the stock a “hold” rating in a research note on Friday, November 22nd. Morgan Stanley lifted their target price on shares of Chewy from $33.00 to $36.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Barclays increased their price target on shares of Chewy from $34.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Royal Bank of Canada lifted their price objective on Chewy from $24.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Finally, Bank of America raised Chewy from an “underperform” rating to a “buy” rating and increased their target price for the stock from $24.00 to $40.00 in a report on Wednesday, November 20th. Eight investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $32.60.

Chewy Stock Performance

Shares of CHWY opened at $33.87 on Monday. The company has a 50-day simple moving average of $30.16 and a 200-day simple moving average of $26.75. Chewy has a 52 week low of $14.69 and a 52 week high of $39.10. The firm has a market capitalization of $14.16 billion, a P/E ratio of 41.30, a P/E/G ratio of 3.13 and a beta of 1.06.

Insider Activity at Chewy

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $29.40, for a total transaction of $36,750,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CHWY. California State Teachers Retirement System raised its position in shares of Chewy by 2.2% in the 1st quarter. California State Teachers Retirement System now owns 108,448 shares of the company’s stock valued at $1,725,000 after acquiring an additional 2,321 shares during the period. Swedbank AB bought a new position in shares of Chewy during the first quarter worth $416,000. Cetera Advisors LLC bought a new stake in shares of Chewy in the 1st quarter valued at $334,000. SG Americas Securities LLC increased its position in shares of Chewy by 125.6% in the 2nd quarter. SG Americas Securities LLC now owns 94,838 shares of the company’s stock valued at $2,583,000 after buying an additional 52,809 shares in the last quarter. Finally, Coastline Trust Co bought a new position in Chewy during the second quarter worth about $295,000. 93.09% of the stock is currently owned by institutional investors.

Chewy Company Profile

Chewy, Inc, together with its subsidiaries, engages in the pure play e-commerce business in the United States. It provides pet food and treats, pet supplies and pet medications, and other pet-health products, as well as pet services for dogs, cats, fish, birds, small pets, horses, and reptiles through its retail websites and mobile applications.