Reported 2 days ago
Chewy stock experienced a significant drop of nearly 15% this week following its quarterly earnings report, which, despite exceeding analyst expectations for revenue and profitability, failed to impress investors. The company's net sales grew by over 8% year-over-year to $3.1 billion and its adjusted net income reached just under $149 million. However, given its high valuation and thin profit margins, many investors remain cautious, as reflected by analysts adjusting their price targets downward.
Source: YAHOO