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Investing.com - Citizens JMP has reiterated its Market Outperform rating and $48.00 price target on Chewy Inc . (NYSE:CHWY), which currently trades near its 52-week high of $48.62, ahead of the company’s fiscal second-quarter 2026 results. The $16.84 billion market cap company has attracted positive attention from analysts, with 10 analysts recently revising their earnings estimates upward according to InvestingPro data.
The firm expects Chewy to report better-than-expected results for the quarter, citing the ramp-up of new veterinary clinics, continued growth in advertising, and an apparently healthy U.S. consumer environment.
Citizens JMP anticipates that Chewy will raise its forward estimates, noting that current estimates for the second half of fiscal 2026 appear reasonable and the competitive environment is favorable while rival Petco works through operational improvements.
The research firm highlighted several growth drivers for Chewy, including stabilizing pet household formation post-COVID, early-stage pharmacy and health services, and advertising that now falls under Chewy’s direct control.
Citizens JMP believes these factors provide both near-term catalysts for the quarter and medium-term growth potential, supporting its view that Chewy’s EBITDA can continue to compound.
In other recent news, Chewy has been the focus of several analyst assessments and consumer surveys. RBC Capital Markets released a survey indicating that Chewy’s popularity among pet owners has increased, with 48% of pet owners shopping at Chewy in the past year. Barclays (LON:BARC) has maintained its Overweight rating on Chewy, despite a recent 14% decline in stock value, attributing the decline to a ~$1 billion sale from BC Partners. BofA Securities reiterated a Buy rating with a $49 price target, highlighting Chewy’s growth potential in the $40 billion veterinary care and pharmaceuticals market. JMP Securities raised its price target on Chewy to $48 from $39, citing the $152 billion U.S. pet spending market and the trend of pet humanization as growth catalysts. Citizens JMP also assumed coverage of Chewy with a Market Outperform rating and increased the price target to $48, noting the strength of Chewy’s core business and its autoship feature, which enhances revenue visibility. These developments reflect a mix of positive analyst sentiment and consumer interest in Chewy’s offerings.
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