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CHWY Stock Price: Chewy Shares Surge on E-Commerce Growth & Earnings News
Introduction
Chewy (NYSE: CHWY) shares are trading at approximately $24.48 as of February 23, 2026, reflecting a modest intraday dip of about 0.07% citeturn0finance0. This movement follows a series of strong earnings reports and sustained e‑commerce momentum that continue to shape investor sentiment. The latest financial results and strategic developments underscore Chewy’s growing resilience in the competitive pet‑care retail space.
Q3 2025 Earnings Drive Investor Confidence
Chewy’s third quarter of fiscal 2025, ending November 2, 2025, delivered solid results. Net sales rose 8.3% year‑over‑year to $3.12 billion, while gross margin expanded by 50 basis points to 29.8% . Net income reached $59.2 million, a significant improvement from the prior year, and adjusted EBITDA climbed to $180.9 million, up $42.7 million year‑over‑year . Adjusted EBITDA margin also improved by 100 basis points to 5.8% .
These results highlight Chewy’s ability to grow both top‑line revenue and profitability simultaneously. CEO Sumit Singh emphasized that the company “exceeded the high end of our net sales guidance, grew margins, and delivered strong free cash flow generation” .
Q4 2024 & Full-Year Performance: A Strong Foundation
Looking back, Chewy’s fiscal fourth quarter and full-year 2024 results laid a strong foundation for continued growth. Q4 net sales rose 14.9% to $3.25 billion, with adjusted EBITDA increasing to $124.5 million and adjusted EBITDA margin expanding to 3.8% . For the full year, net sales reached $11.86 billion, up 6.4%, and adjusted EBITDA surged to $570.5 million, with margin expanding to 4.8% .
Market reaction was positive. Chewy exceeded consensus expectations, with adjusted EPS of $0.28 beating the FactSet forecast of $0.03 . The company added 431,000 active customers, bringing the total to 20.5 million, while net sales per active customer rose to $578 . These metrics underscore the strength of Chewy’s Autoship loyalty model and customer engagement.
Autoship and Customer Metrics: The Growth Engine
Autoship continues to be a key driver. In Q1 2024, autoship sales accounted for 77.6% of total sales, growing 6.4% year‑over‑year to $2.23 billion . In Q3 2025, autoship sales hit a record $2.56 billion, comprising 82% of net sales and growing 14.8% year‑over‑year . These figures reflect strong customer loyalty and recurring revenue strength.
Active customer trends remain mixed. While Q1 2024 saw a 2.1% decline to 20 million, net sales per customer rose 9.6% to $562 . Q4 2024 added 431,000 new active customers, reaching 20.5 million . In Q3 2025, active customers rose 3.8% year‑over‑year to 20.8 million, with 240,000 added sequentially .
Analyst Sentiment and Market Moves
Analysts have responded positively. Wolfe Research named Chewy a top pick for 2025, citing growth in Chewy Health, private‑label products, ad revenue, and margin expansion . Baird raised its price target to $35, maintaining an Outperform rating, based on customer growth and margin improvement .
In mid‑2025, Chewy’s largest investor, BC Partners, sold $1.25 billion worth of stock, converting Class B shares to Class A and selling to the public at $41.95 per share. Despite the sale, BC Partners retained majority voting control . This transaction, separate from the existing $500 million repurchase program, added liquidity without altering control dynamics .
Stock Performance and Market Context
Chewy’s stock has seen notable swings. In Q1 2024, shares surged over 26% on strong earnings and a new buyback plan . In Q4 2024, the stock gained 120% over 12 months, outperforming the S&P 500’s 11% gain . In mid‑2024, the “Roaring Kitty” effect briefly spiked shares by over 10% when Keith Gill disclosed a 6.6% stake .
More recently, in April 2025, Chewy’s stock rose 6.3% on a surge in trading volume and a reported 20% year‑over‑year revenue increase . As of today, the stock trades near $24.48, reflecting both recent gains and broader market fluctuations citeturn0finance0.
What’s Next for Chewy
Looking ahead, investors will watch several key indicators:
- Q4 2025 earnings: Will Chewy continue to grow sales and margins?
- Autoship performance: Sustained growth here remains critical.
- Customer acquisition: Can Chewy maintain or grow its active customer base?
- Capital allocation: Will buybacks or strategic investments continue?
- New verticals: Expansion in health, vet care, and ads could drive future upside.
Conclusion
Chewy’s current stock price of around $24.48 reflects a company that is steadily strengthening its financial footing through consistent revenue growth, margin expansion, and customer loyalty. Autoship remains a powerful engine, and analyst sentiment is broadly positive. As Chewy continues to execute on its strategic initiatives, the market will closely monitor upcoming earnings and operational metrics to gauge whether this momentum can be sustained.
