On June 18, Chewy declined 5.01% in regular trading, trading at $17.925/share, with turnover of $143 million. The stock has been under sustained selling pressure since its Q1 earnings release, as a downward revision to full-year sales guidance and multiple analyst target price cuts weigh heavily on sentiment.

While Chewy reported Q1 adjusted EPS of $0.43, beating consensus of $0.39 by over 10%, and revenue of $3.357 billion also topped expectations, the company simultaneously lowered its fiscal 2026 sales guidance to $13.40–$13.55 billion from a prior range of $13.60–$13.75 billion, citing softer consumer spending trends. UBS noted the company is prioritizing profitability over growth by cutting lower-return promotions, while acknowledging its model is not fully immune from macro headwinds. RBC Capital Markets highlighted that a muted growth outlook limits near-term catalysts.

Post-earnings, several investment banks cut their price targets. Piper Sandler slashed its target from $48 to $30, a 37.5% reduction, while maintaining an outperform rating. UBS maintained its neutral stance with a reduced target. The stock has retreated significantly from its pre-earnings levels as selling pressure persists.

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