Chewy Analysts Slash Their Forecasts Following Q2 Results

Author: Avi Kapoor | September 11, 2025 01:52pm

Chewy Inc. (NYSE:CHWY) on Wednesday reported better-than-expected earnings for the second quarter.

The company posted second-quarter 2025 adjusted earnings of 33 cents per share, beating the consensus of 14 cents and the management guidance of 30-35 cents. The retailer of pet supplies reported sales of $3.10 billion, up 8.6% year over year, compared to the consensus of $3.08 billion and the management guidance of $3.06 billion-$3.09 billion.

"Q2 net sales exceeded the high end of our guidance range…," said Sumit Singh, CEO of Chewy. "Chewy's differentiated value proposition was once again on display, with both active customers and share of wallet (NSPAC) growing 4.5% year over year to reach nearly 21 million customers and $591, respectively."

Chewy expects third-quarter adjusted earnings of 28-33 cents per share versus the consensus of 23 cents. The pet product retailer forecasts third-quarter sales of $3.07 billion-$3.1 billion compared to the consensus of $3.05 billion.

Chewy raised fiscal 2025 sales guidance from $12.3 billion-$12.45 billion to $12.5 billion-$12.6 billion compared to the consensus of $12.58 billion, with adjusted EBITDA margin expected to be 5.4%-5.7%.

Chewy shares gained 2.7% to $36.06 on Thursday.

These analysts made changes to their price targets on Chewy following earnings announcement.

• Barclays analyst Trevor Young maintained Chewy with an Overweight rating and lowered the price target from $50 to $47.
• Baird analyst Justin Kleber maintained Chewy with an Outperform rating and lowered the price target from $52 to $48.
• RBC Capital analyst Steven Shemesh maintained the stock with an Outperform rating and lowered the price target from $44 to $43.
• Morgan Stanley analyst Lauren Schenk maintained Chewy with an Overweight rating and cut the price target from $50 to $48.
• TD Cowen analyst Bill Kerr maintained the stock with a Buy and lowered the price target from $50 to $48.
• JP Morgan analyst Doug Anmuth maintained Chewy with an Overweight rating and lowered the price target from $47 to $45.
• Citigroup analyst Steven Zaccone maintained the stock with a Buy and lowered the price target from $49 to $48.
• UBS analyst Michael Lasser maintained Chewy with a Neutral and lowered the price target from $46 to $43.

Considering buying CHWY stock? Here’s what analysts think:

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Posted In: CHWY