Chewy (CHWY) Earnings Preview

Wedbush has an outperform rating and $55 price target on Chewy (CHWY). Seth Basham says the firm sees consumers shifting pet purchases online and the company's margins climbing higher. CFRA has a hold rating and $45 price target, with analyst Arun Sundaram positing that Chewy might have easier year-over-year comps this quarter due to out-of-stock issues during the omicron COVID surge. He thinks Chewy moving into services and ads is the company's main growth story. Headwinds include big competitors like Amazon (AMZN), lack of subscriber model, and higher promotions.