Since the boom in new pet adoptions during the pandemic has calmed, the success of Chewy will hinge on its ability to bring in more new customers. That’s the consensus LikeFolio Founder Landon Swan gives ahead of earnings. He notes that purchase intent mentions were down for Chewy as page views were also down 3% year over year. Analysts are expecting Chewy to report an average earnings per share of $0.04. Meanwhile, Deutsche Bank recently cut Chewy’s price target to $41 from $51 a share and maintained it at a buy rating.
22 Mar 2023