Goldman Sachs analyst Eric Sheridan lowered the firm's price target on Chewy to $34 from $46 and keeps a Buy rating on the shares. Chewy reported Q1 results highlighting softer macro-driven revenue expectations and a reduced FY26 outlook for growth initiatives, but stronger-than-expected EBITDA margins driven by ads, mix, and efficiency gains, alongside continued investment in healthcare and loyalty programs, accelerating AI-driven cost savings, and ongoing capital returns through share repurchases and new financing capacity, the analyst tells investors in a research note.
