Wedbush Boosts Chewy's Q3 2026 Earnings Per Share Estimate

Summary

Wedbush analysts have raised their Q3 2026 earnings per share (EPS) estimate for Chewy from $0.11 to $0.12, maintaining an ‘Outperform’ rating with a price target of $45.00. Chewy’s stock opened at $34.72, with a market cap of $14.42 billion. The company reported $0.14 EPS for the last quarter, missing estimates but showing an 8.6% revenue increase year-over-year.Market Beat

Impact Analysis

So basically, Wedbush’s upward revision of Chewy’s EPS for Q3 2026 from $0.11 to $0.12, while maintaining an ‘Outperform’ rating, signals a positive outlook despite Chewy’s recent earnings miss. The interesting part isn’t just the EPS adjustment, but the confidence it reflects in Chewy’s ability to navigate its current challenges and capitalize on revenue growth, which was up 8.6% year-over-year last quarter. The market might be underestimating Chewy’s potential to rebound and meet or exceed future earnings expectations, especially with a price target set at $45.00, significantly above the current stock price of $34.72. This could present a buying opportunity if the market hasn’t fully priced in this optimism. However, execution risk remains if Chewy can’t translate revenue growth into stronger earnings consistently.Market Beat