Chewy Tops Q4 Estimates But Weak Outlook Hits Stock

Chewy reported better-than-expected Q4 results, but issued weak Q1 revenue guidance and a flat 2024 customer outlook which disappointed investors
Q4 revenue rose 4.2% to $2.83B, exceeding estimates; EPS also beat forecasts
Q1 revenue forecast of $2.84B-$2.86B missed projections; 2024 revenue outlook of $11.6B-$11.8B also fell short
Goldman analyst reiterated Buy rating but cut price target to $32 from $36, still sees 80% upside potential
Chewy has a Moderate Buy consensus based on mostly positive analyst ratings