Chewy Shares Drop 7% Following Q4 Earnings Announcement 
<p><a href='https://financialmodelingprep.com/financial-summary/CHWY'>Chewy (NYSE:CHWY)</a> shares plunged more than 7% today after the company reported its Q4 results, with EPS and revenue beat but user declines. Pricing was the main upside driver across the P&L. Q4 EPS was $0.16, beating the Street estimate of ($0.11). Revenue came in at $2.71 billion, better than the Street estimate of $2.64 billion.</p>
<p>Following the results announcement, Deutsche Bank downgraded the stock to Hold from Buy and lowered its price target to $35.00 from $41.00, noting that the user outlook for 2023 indicates that although there will be a shift towards positivity among users this year, the level of growth in users is expected to be modest at most.</p>
<p>While the analysts appreciate that the macro environment remains an overhang to user growth, they believe investors need confidence in the user growth trajectory in order to confidently underwrite upside to either estimates or valuation and this is something that is in short supply for the company at the moment.</p>

NYSE:CHWY