Chewy Analyst Highlights Website Visits Growth, 'Green Shoots' Across Industry Ahead Of Q2 Earnings
Chewy Analyst Highlights Website Visits Growth, 'Green Shoots' Across Industry Ahead Of Q2 Earnings
Chewy is the largest pure-play online pet retailer in the U.S., he said.JPMorgan analysts remain positive on Chewy Inc (NYSE:CHWY) heading into earnings next week.
摩根大通的分析師對Chewy Inc (紐交所:CHWY) 在下週公佈業績持續看漲。
What To Know: Chewy is due to report second-quarter financial results before the market opens on Aug. 28. Consensus estimates call for earnings of 3 cents per share on revenue of $2.856 billion, per Benzinga Pro.
要知道：Chewy 將於8月28日市場開盤前發佈第二季度財務業績。根據Benzinga Pro的共識預測，預計每股盈利爲3美分，營業收入爲28.56億美元。
In a new note to clients Thursday, JPMorgan analyst Doug Anmuth reiterated an Overweight rating on the stock.
在週四向客戶發佈的新說明中，摩根大通的分析師Doug Anmuth再次給予該股票超重評級。
Chewy is the largest pure-play online pet retailer in the U.S., he said.
他說，Chewy是美國最大的純電商寵物零售商。
"We believe pet is a growing and highly attractive category that is early in the shift online (~36% penetration in FY23), and, in our view, Chewy is well positioned as the leader in online pet with a ~33% market share," Anmuth added,
安茂斯表示：「我們認爲寵物是一個增長迅速且非常具吸引力的領域，早期即轉向在線化（FY23年滲透率約爲36%），在我們看來，Chewy作爲在線寵物領域的領導者處於有利地位，市場佔有率約爲33%。」
Chewy boasts multiple revenue drivers including secular growth, an ongoing shift to e-commerce, a pharmacy business, and international expansion. "We also note that some of the company's fastest growth areas are its highest margin," the analyst added.
Chewy擁有多種營業收入驅動因素，包括長期增長、持續向電子商務的轉變、藥房業務和國際擴張。分析師補充道：「我們還注意到，公司的一些增長最快的領域也是其最高利潤率的領域。」
Anmuth noted that approximately 75% of Chewy's net sales come from autoship subscription program customers, which the analyst sees as a key competitive advantage for the online pet care retailer.
安茂斯指出，Chewy約75%的淨銷售額來自自動配送訂閱計劃的客戶，分析師認爲這是在線寵物護理零售商的關鍵競爭優勢。
Although there are ongoing debates about a softer consumer in the internet sector, the analyst noted that channel checks show Chewy's website visits growth improved in the second quarter and continued to improve into August. Anmuth also believes Chewy's current full-year outlook could prove to be conservative against improving industry trends.
儘管有關互聯網行業消費者疲軟的爭論仍在繼續，分析師指出，渠道檢查顯示Chewy的網站訪問量在第二季度有所改善，並在8月持續改善。安茂斯還認爲，相對於改善的行業趨勢，Chewy當前全年前景可能被證明是保守的。
JPMorgan has a December 2024 price target of $28 on Chewy shares based on 18.5 times 2025 adjusted EBITDA. This represents a premium to other online retail competitors trading at around 16 times on average.
摩根大通對chewy股票的2024年12月目標價爲28美元，基於2025年調整後的18.5倍EBITDA。這個價格高於其他在線零售競爭對手平均16倍的價格。
"We believe a premium vs peers is warranted now (vs. a slight discount previously) due to improving results with green shoots around industry trends and better execution," Anmuth said.
「我們認爲與同行相比，現在（與之前稍微打折的情況相比）應該有價差，因爲業績改善，行業趨勢有所恢復，執行更好，」Anmuth說。
CHWY Price Action: Chewy shares were down 2.69% at $26.37 at the time of publication, according to Benzinga Pro.
據Benzinga Pro報道，chewy股價在發佈時下跌2.69％，爲26.37美元。
Photo: Pexels from Pixabay.
圖片來源：Pixabay的Pexels。
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