Analysts Boosts Chewy's Price Forecast But Say Valuation Is Bit Stretched
Analysts Boosts Chewy's Price Forecast But Say Valuation Is Bit Stretched
On Wednesday, Chewy Inc. (NYSE:CHWY) reported better-than-expected second-quarter 2024 results and reaffirmed annual guidance.
周三，纽交所（NYSE:CHWY）的Chewy Inc.报告了超出预期的2024年第二季度业绩，并重新确认了年度指导。
The company reported sales of $2.86 billion, up 2.6% year over year, almost in line with the consensus of $2.86 billion and the management guidance of $2.84 billion—$2.86 billion.
该公司报告的销售额为28.6亿美元，同比增长2.6%，几乎与市场预期的28.6亿美元和管理层的28.4亿—28.6亿美元保持一致。
The retailer of pet supplies reported adjusted EPS of $0.24 compared to the consensus of $0.02 and $0.15 a year ago.
这家宠物用品零售商报告调整后的每股收益为0.24美元，与0.02美元的共识相比，去年同期为0.15美元。
JP Morgan analyst writes, "We're encouraged that Chewy's Active Customers returned to growth for the first time since 1QFY23, building on potential industry greenshoots seen at 1QFY."
摩根大通分析师写道：“我们对Chewy的活跃客户数量首次自2023财年第一季度以来实现增长感到鼓舞，进一步强化了1QFY所见的行业复苏迹象。”
Though Chewy maintained its fiscal year 2024 sales guidance, JP Morgan notes that some investors expected a modest raise. The analyst is encouraged by improving Active Customer trends, meaningful Adjusted EBITDA upside, and significant capital returns.
尽管Chewy保持了2024财年销售目标，但摩根大通指出一些投资者希望有适度的提升。该分析师对增长的活跃客户趋势、重要的调整后息税前利润（EBITDA）上限和显著的资本回报感到鼓舞。
RBC Capital Markets writes, "visibility back to +high-single-digits net sales growth remains low."
RBC Capital Markets表示：“对于+高个位数的净销售增长，能见度仍然较低。”
The analyst maintains the Outperform rating and raises the price target from $24 to $32 based on ~20x revised FY 2025 adjusted EBITDA estimate ($670 million).
该分析师维持超额评级，并将目标价从24美元提高至32美元，基于修订后2025财年调整后的EBITDA估值约为6,700万美元。
"Though admit that valuation is beginning to feel a bit stretched...but, bulls will latch on to continued evidence of category stabilization, improved profit flow-through and share repurchase activity. Bears will push back on valuation," RBC Analyst writes.
RBC分析师写道：“虽然承认估值开始有些过高，但看涨者将会注意到类别稳定、利润改善以及回购活动的持续证据。看跌者将对估值提出异议。”
Price Action: CHWY stock is up 1.71% at $29.21 at the last check on Thursday.
CHWY股票的价格行情在周四的最后一次检查中上涨了1.71%，达到29.21美元。
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