Goldman Sachs Rates Chewy (CHWY) buy, $34 Price Target

Goldman Sachs affirms its Buy rating for Chewy, Inc. with a price target of $34, reflecting confidence in the company's growth potential, a 85.49% upside from the current price.

By EarningsIQ Research Desk · Published Jun 12, 2026, 9:10 PM EDT · Updated Jun 18, 2026, 11:01 AM EDT

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Goldman Sachs rated Chewy, Inc. ($CHWY) "buy" with a $34 price target on June 12, 2026.

Since the rating, $CHWY is down 9.3% after 1 week, up 5.2% after 1 month and up 8.6% to date (from the $19.31 close on Jun 12, 2026).

CHWY Chewy, Inc.

$20.97 -37.38% year to date

Daily close · Oct 16, 2026

Key Points

Goldman Sachs maintained a Buy rating on Chewy, Inc. (NYSE: CHWY) with a price target of $34 following its June 12, 2026 update.
Currently, Chewy's shares trade at $18.33, significantly lower than its 52-week high of $40.55, suggesting potential upside.
Analysts have a consensus price target of about $28.82 for Chewy, with 22 opinions, indicating overall positive sentiment in the market.

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Goldman Sachs Maintains Buy Rating for Chewy

Goldman Sachs reiterated its Buy rating on Chewy, Inc. (NYSE: CHWY) on June 12, 2026, setting a price target of $34. The stock is currently trading at $18.33, showing a significant gap between its market price and the target set by Goldman Sachs.

Analysts Set New Price Targets

In comparison to other analysts, Goldman Sachs' price target is on the higher end. Mizuho recently maintained an Outperform rating with a target of $28, while JP Morgan downgraded its rating to Neutral with a target of $24. Morgan Stanley and RBC Capital have also maintained their positive outlooks, with targets set at $36 and $31, respectively. This suggests a range of opinions among analysts, but Goldman Sachs remains optimistic about Chewy's future.

Stock Performance Context

Chewy's current trading price of $18.33 is well below its 52-week high of $40.55 and close to its low of $17.40. This pricing context may indicate a potential for recovery, especially with Goldman Sachs' bullish outlook. The stock has seen fluctuations but is now positioned for potential growth if it can regain investor confidence.

12-month forecast

$CHWY price target

Chewy, Inc. daily closes and this analyst's $34 target. Not advice.

Recent Earnings

Chewy, Inc. reported revenue of approximately $13.07 billion for its last fiscal year, with a revenue growth rate of 7.3%. The company has a net margin of 2.09% and an impressive return on equity (ROE) of 71.99%. Next earnings are scheduled for December 9, 2026, and investors will be closely watching to see if the company can continue its growth trajectory.

What Chewy, Inc. Does

Chewy, Inc. operates in the e-commerce space, focusing on pet products and services in the U.S. With a strong customer base and a unique subscription model, the company has established itself as a leader in the pet retail market. The reaffirmation by Goldman Sachs highlights confidence in Chewy's ability to capitalize on its growth potential.

What to Watch at Chewy, Inc.

Investors should keep an eye on Chewy's upcoming earnings report in December, which will provide further insights into its financial health. With Goldman Sachs' Buy rating and a substantial price target, market participants will be eager to see how the company's performance aligns with analyst expectations.