Chewy (NYSE:CHWY) Given New $40.00 Price Target at Citigroup

28 Mar 2026, 09:58 by Tristan Rich · The Markets Daily

Chewy (NYSE:CHWY – Free Report) had its target price lowered by Citigroup from $42.00 to $40.00 in a report issued on Friday,Benzinga reports. Citigroup currently has a buy rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Citizens Jmp dropped their price target on shares of Chewy from $48.00 to $45.00 and set a “market outperform” rating on the stock in a research report on Thursday. Needham & Company LLC restated a “hold” rating on shares of Chewy in a research report on Thursday, December 11th. Raymond James Financial raised shares of Chewy from a “market perform” rating to an “outperform” rating and set a $28.00 price objective on the stock in a research note on Thursday, February 19th. Guggenheim reiterated a “buy” rating and issued a $45.00 target price on shares of Chewy in a report on Thursday. Finally, Wall Street Zen raised shares of Chewy from a “hold” rating to a “buy” rating in a research note on Saturday, February 14th. Seventeen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $43.81.

Check Out Our Latest Report on Chewy

Chewy Stock Performance

CHWY opened at $26.19 on Friday. The company has a market capitalization of $10.87 billion, a PE ratio of 50.36, a P/E/G ratio of 1.83 and a beta of 1.60. The stock’s fifty day moving average is $26.92 and its 200-day moving average is $32.20. Chewy has a one year low of $22.74 and a one year high of $48.62.

Chewy (NYSE:CHWY – Get Free Report) last announced its earnings results on Wednesday, March 25th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.19). Chewy had a net margin of 1.77% and a return on equity of 53.48%. The firm had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.26 billion. During the same period in the prior year, the business earned $0.28 EPS. The company’s quarterly revenue was up .5% compared to the same quarter last year. On average, equities research analysts forecast that Chewy will post 0.24 EPS for the current fiscal year.

Insider Activity

In other news, CTO Satish Mehta sold 13,013 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $28.99, for a total value of $377,246.87. Following the completion of the sale, the chief technology officer owned 273,835 shares in the company, valued at $7,938,476.65. This represents a 4.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.43% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CHWY. Wellington Management Group LLP boosted its position in Chewy by 295.9% during the 3rd quarter. Wellington Management Group LLP now owns 17,622,768 shares of the company’s stock worth $712,841,000 after acquiring an additional 13,171,325 shares during the period. Viking Global Investors LP increased its holdings in shares of Chewy by 146.9% in the 4th quarter. Viking Global Investors LP now owns 13,536,645 shares of the company’s stock valued at $447,386,000 after purchasing an additional 8,052,955 shares during the period. AQR Capital Management LLC increased its holdings in shares of Chewy by 120.2% in the 3rd quarter. AQR Capital Management LLC now owns 10,196,146 shares of the company’s stock valued at $407,948,000 after purchasing an additional 5,564,803 shares during the period. Norges Bank purchased a new stake in shares of Chewy in the fourth quarter worth approximately $154,647,000. Finally, State Street Corp lifted its position in shares of Chewy by 75.5% in the second quarter. State Street Corp now owns 6,170,197 shares of the company’s stock worth $262,974,000 after purchasing an additional 2,654,496 shares in the last quarter. Hedge funds and other institutional investors own 93.09% of the company’s stock.

Key Stories Impacting Chewy

Here are the key news stories impacting Chewy this week:

Positive Sentiment: Management issued optimistic FY guidance and highlighted margin/FCF gains and revenue resilience — the earnings call and company presentation emphasized autoship strength, adjusted EBITDA growth and a constructive earnings outlook that drove buying interest. Chewy, Inc. Q4 2026 Earnings Call Summary
Positive Sentiment: Autoship and customer metrics look sticky — autoship accounts for the bulk of net sales and Chewy reported active‑customer growth and higher sales per active user, which supports recurring revenue visibility and justify premium multiple expansion if execution continues. Chewy Gobbles up Market Share in 2026: Poised to Advance in Q2
Positive Sentiment: AI-driven efficiency and Chewy Vet Care expansion are framed as near‑term margin levers — analysts and coverage pieces call out expected cost savings from AI initiatives and revenue/margin upside from the company’s vet services push. Chewy Posts Solid Q4, Indicates AI-Related Efficiency Benefits Ahead
Neutral Sentiment: Analysts remain constructive but have trimmed price targets — several banks reaffirmed buy/overweight ratings while cutting targets after Q4, leaving a mixed consensus (many still show significant upside from current levels). These Analysts Cut Their Forecasts On Chewy Following Q4 Results
Negative Sentiment: Institutional ownership and sentiment pose downside risk — MarketBeat flags that institutions own a very large share and were sellers earlier in the quarter; continued selling could cap near‑term upside despite positive fundamentals. Chewy Gobbles up Market Share in 2026: Poised to Advance in Q2
Negative Sentiment: Some headlines noted mixed earnings details — while revenue and cash‑flow beats and guidance impressed, EPS and certain adjusted metrics produced mixed comparisons to Street expectations, which leaves execution risk if margins or growth slow. CHWY Stock Up 13% Following Solid Q4 Performance Despite Earnings Miss

Chewy Company Profile

(Get Free Report)

Chewy, Inc (NYSE: CHWY) is a leading e-commerce retailer specializing in pet food, supplies and services. The company offers a comprehensive assortment of products for dogs, cats, fish, birds and other small animals, including prescription medications, veterinary health products, grooming essentials and toys. Through its online platform and mobile app, Chewy provides an intuitive shopping experience with features such as Autoship, ensuring regular deliveries of pet essentials at schedule intervals.