Chewy Down 40% YTD as Wall Street Slashes Targets Ahead of Earnings
Chewy (CHWY) reports Q1 FY2026 results before the open on June 10, with the stock near two-year lows. Analysts have cut price targets across the board, though the average rating across roughly 25 analysts remains a Buy.
TL;DR
Pet e-commerce platform Chewy (CHWY) reports Q1 FY2026 earnings before the open on June 10. The stock is near a two-year low and has shed roughly 40% YTD, multiple banks have trimmed their price targets, and options markets are pricing in a post-earnings move of about ±11%.
- Earnings date: June 10, pre-market; conference call at 8:00 a.m. ET
- Consensus: revenue ~$3.35B (+7.6% YoY); EPS ~$0.24
- Pre-earnings stock price ~$20.10, near the bottom of its 52-week range ($19.30–$46.35)
- Down ~40% YTD; down ~56.8% over the past year
- Raymond James, Morgan Stanley, and Barclays recently cut targets to $25, $43, and $40, respectively
Chewy (CHWY) is set to report Q1 FY2026 results before the open on June 10 (ET), with a conference call at 8:00 a.m.[Yahoo Finance] The print arrives with the stock sitting near its lowest level in nearly two years — which puts added weight on both the numbers and any forward guidance.
Consensus Estimates
Wall Street is looking for revenue of roughly $3.35 billion, up about 7.6% YoY — broadly in line with the 8.3% growth posted in the year-ago quarter. The consensus EPS estimate stands at $0.24.[TradingView] As always, these are estimates; the actual figures are Chewy's to report.
Stock Performance Into Earnings
The price action heading into this report is hard to ignore:
- On June 9 — the last trading day before the print — Chewy closed around $20.10, hugging the lower end of its 52-week range of $19.30–$46.35, according to Benzinga.[Benzinga]
- The stock is down roughly 40% year-to-date and about 56.8% over the trailing twelve months.
- Options markets are implying a single-day post-earnings move of approximately ±11%, according to Investing.com.[Investing.com]
Analyst Target Cuts
Several banks trimmed their price targets ahead of the report. Per Benzinga, Raymond James cut its target to $25, Morgan Stanley to $43, and Barclays to $40.[Benzinga] That said, among the roughly 25 analysts covering the stock, the average rating reportedly remains a Buy — meaning the target cuts haven't translated into a broader bearish turn on the name.
What the Market Will Be Watching
Given how the business is structured, a few metrics will dominate post-earnings attention: whether revenue growth holds in the mid-single digits or slows further versus last year; trends in active customers and net sales per active customer (NSPAC) as proxies for demand and retention; profitability and free cash flow; and full-year guidance. With the stock already deep in the hole and implied vol elevated, any meaningful beat or miss against these benchmarks could move the stock sharply. This piece is a pre-earnings preview only and does not represent a view on results or price direction.
Sources
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