Several major banks including Citi, Goldman Sachs, TD Cowen, RBC and UBS have reiterated positive views on Chewy following its latest quarterly results, pointing to improving profitability, efficiency gains and multiple growth initiatives across advertising, healthcare and subscriptions. Goldman Sachs highlighted stronger than expected first quarter 2026 EBITDA margins driven by advertising, product mix and AI powered efficiency, though cautious guidance and insider selling temper enthusiasm. Analysts see Chewy’s expansion into pet healthcare and enhanced advertising platform as key levers that could deepen customer relationships and support margins over time. The investment narrative projects $15.9 billion revenue and $622.1 million earnings by 2029, requiring 8.0% yearly revenue growth and an earnings increase of about $399 million from $222.8 million today, with a fair value estimate of $39.85 representing a 120% upside to the current price.
Chewy IncAnalyst upgrades and positive margin outlook from multiple banks following strong Q1 EBITDA.
Citigroup Inc.
