On May 29, Chewy rose 5.1% in regular trading, trading at $22.505 per share, with trading volume of $46.16 million.

On the news front, Morgan Stanley recently issued a report lowering its price target on Chewy from $49 to $43 while maintaining its Overweight rating. The firm noted that the stock's sharp prior decline has already reflected many of the company's challenges and that investor expectations now appear too pessimistic given long-term prospects. The report cited near-term pressure from a weakening pet-care market and softer alternative data trends, with fiscal organic revenue growth guidance of 7.3% to 8.5% potentially tracking closer to mid-7%. Rising fuel costs and lower operating leverage may also weigh on margins. Q1 results are due June 10.

On fundamentals, Chewy is the largest pure-play online pet retailer in the U.S., with over 21 million active customers, 85% of revenue from autoship subscribers, projected net sales of approximately $13.7 billion, and free cash flow of roughly $750 million. Analysts polled by FactSet assign a mean price target of $40.10.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)