Chewy price target lowered to $40 from $52 at Evercore ISI

Evercore ISI lowered the firm’s price target on Chewy (CHWY) to $40 from $52 and keeps an Outperform rating on the shares following what the firm calls “a solid In Line & Raise quarter.” Revenue of $3.26B and EBITDA of $162M largely met expectations, while 172,000 active customer net adds came in slightly better than the Street view, the analyst says. Q1 guidance bracketed the Street, while FY26 guidance came in “cleanly above,” adds the the analyst.