Chewy Inc (NYSE: CHWY) surpassed fourth quarter profit and profit estimates, driven by continued boost in puppy spending, to BofA Securities.
Chewy Analyst: Nat Schindler maintained a buyback score on Chewy with an unchanged value target of $133.
The Chewy Takeaways: Several symptoms point to adequate long-term business growth, with a 35% increase year after year in new puppy profiles by 2020 for puppies and kittens,” indicating increased intake of essential foods, durable goods and fitness care. over time, ” said Schindler in the note.
Chewy reported profits in the fourth quarter of $2. 04 billion, ahead of the $1. 96 billion street forecast, with 1. 4 million additions.
“We believe that the net earnings forecast of $21 from $8. 85 billion to $8. 95 billion is conservative and we believe CHWY’s subscription style supports the increase,” he added.
CHWY Price Share: Chewy shares rose 7. 33% to $86. 27 on last Wednesday.