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.
週三，紐交所（NYSE:CHWY）的Chewy Inc.報告了超出預期的2024年第二季度業績，並重新確認了年度指導。
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.
該公司報告的銷售額爲28.6億美元，同比增長2.6%，幾乎與市場預期的28.6億美元和管理層的28.4億—28.6億美元保持一致。
The retailer of pet supplies reported adjusted EPS of $0.24 compared to the consensus of $0.02 and $0.15 a year ago.
這家寵物用品零售商報告調整後的每股收益爲0.24美元，與0.02美元的共識相比，去年同期爲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."
摩根大通分析師寫道：「我們對Chewy的活躍客戶數量首次自2023財年第一季度以來實現增長感到鼓舞，進一步強化了1QFY所見的行業復甦跡象。」
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.
儘管Chewy保持了2024財年銷售目標，但摩根大通指出一些投資者希望有適度的提升。該分析師對增長的活躍客戶趨勢、重要的調整後息稅前利潤（EBITDA）上限和顯著的資本回報感到鼓舞。
RBC Capital Markets writes, "visibility back to +high-single-digits net sales growth remains low."
RBC Capital Markets表示：「對於+高個位數的淨銷售增長，能見度仍然較低。」
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).
該分析師維持超額評級，並將目標價從24美元提高至32美元，基於修訂後2025財年調整後的EBITDA估值約爲6,700萬美元。
"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分析師寫道：「雖然承認估值開始有些過高，但看漲者將會注意到類別穩定、利潤改善以及回購活動的持續證據。看跌者將對估值提出異議。」
Price Action: CHWY stock is up 1.71% at $29.21 at the last check on Thursday.
CHWY股票的價格行情在週四的最後一次檢查中上漲了1.71%，達到29.21美元。
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圖片來自shutterstock。
