Chewy rises after upbeat Q3 sales forecast, robust Q2 earnings
CHWY•Q2 results beat estimates on customer growth
Chewy posted Q2 adjusted EPS of 36 cents and Q2 revenue of $3.33 billion, both beating estimates.
The company said the Q2 results were driven by customer growth.
According to data compiled by LSEG, 22 of 29 brokerages rate the stock "buy" or higher, while seven rate it "hold". The median price target is $31. As of the last close, the stock was down 29.6% year to date.
Shares rise after forecast and earnings beat
Shares of online pet retailer Chewy CHWY.N rose 1.9% to $23.7 in premarket trading after the company posted upbeat quarterly results and gave a sales forecast above estimates.
The company said it expects Q3 net sales in the range of $3.32 billion to $3.36 billion, with the midpoint above analysts' estimates of $3.33 billion, according to data compiled by LSEG.
