Chewy, Inc. CHWY reported better-than-expected earnings and sales results for its fourth quarter. However, the company’s active customers totaled 20.4 million, down 1.2% year over year.
According to Chewy, revenue rose 13.4% year over year to $2.71 billion, beating the median analyst estimate of $2.64 billion. The company reported quarterly earnings of 1 cent per share, slightly beating consensus estimates for a loss of 11 cents per share.
Chewy shares fell 10% to close at $20.99 on Tuesday.
These analysts changed their price targets for Chewy after the results were released.
- Barclays lowering Chewy price target from $35 to $33. Barclays analyst Trevor Young maintained an equal weight rating.
- Deutsche Bank lowered Chewy price target to $35 from $41. Deutsche Bank analyst Lee Horowitz downgraded the stock to hold from buy.
- Needham Analyst Anna Andreeva, meanwhile, confirmed Chewy with a buy and kept a price target of $55.
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