Chewy Inc (CHWY) Receives a New Rating from a Top Analyst

By Ryan Adsit

Wells Fargo analyst Brian Fitzgerald initiated coverage with a Buy rating on Chewy Inc (CHWYResearch Report) today and set a price target of $40. The company’s shares opened today at $33.92.

Fitzgerald commented:

“We see significant runway for continued online penetration (~15% now; 25% by ’22E).”

According to, Fitzgerald is ranked #12 out of 5237 analysts.

Currently, the analyst consensus on Chewy Inc is a Moderate Buy with an average price target of $36.56, a 7.8% upside from current levels. In a report released today, UBS also initiated coverage with a Buy rating on the stock with a $42 price target.

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Based on Chewy Inc’s latest earnings release for the quarter ending January 31, the company reported a quarterly GAAP net loss of $66.34 million. In comparison, last year the company had a GAAP net loss of $59.82 million.

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Chewy, Inc. operates as a web-based, pet supplies e-tailer. The company is an online source for a wide variety of pet products, supplies and prescriptions for dogs, cats, fish, birds, small pets, horses, and reptiles. It serves its customers through its retail website,, and its mobile applications.